Insect Growth Regulators Market
Report ID: SQMIG15C2069
Report ID:
SQMIG15C2069 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
68
Insect Growth Regulators Market size was valued at USD 936.54 million in 2021 and is poised to grow from USD 994.05 million in 2022 to USD 1601.18 million by 2030, growing at a CAGR of 6.14% in the forecast period (2023-2030).
The insect growth regulators (IGRs) market is a dynamic segment of the agrochemical industry that focuses on managing insect populations through targeted disruption of their growth and development processes. IGRs are synthetic chemicals that mimic or interfere with the hormones responsible for insect growth and metamorphosis. They offer a more environmentally friendly and selective approach to pest control compared to traditional insecticides. The market's growth is primarily driven by several factors. Firstly, increasing concerns over the environmental and human health impacts of conventional pesticides have led to a growing demand for safer and more sustainable pest control solutions. IGRs provide a way to manage pest populations without causing harm to beneficial organisms or posing risks to human health. Secondly, the rising global population and the subsequent need to enhance agricultural productivity have fueled the adoption of IGRs. These regulators help safeguard crop yields by curbing insect damage and reducing the development of resistance in pest populations, thus ensuring more efficient and consistent crop production.
Additionally, the growing awareness and adherence to integrated pest management (IPM) practices have further propelled the use of IGRs. Integrated pest management emphasizes a holistic approach to pest control, incorporating various strategies to minimize the reliance on chemical pesticides while maintaining effective pest management.
US Insect Growth Regulators Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global insect growth regulators market is segmented on the basis of Product, Form, Application, and region. By Product, the market is segmented into Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, Ecdysone Antagonists, Ecdysone Agonists. By Form, the market is segmented into Aerosol, Liquid, Bait. By Application, the market is segmented into Agriculture, Residential, Commercial. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Insect Growth Regulators Market Analysis By Product
In the insect growth regulators market, Chitin Synthesis Inhibitors hold a dominant position in the market due to their widespread use in pest control. CSIs disrupt the formation of chitin, a vital component of insect exoskeletons, leading to molting failures and inhibiting insect growth. They are effective against various pests and are utilized in agricultural, urban, and veterinary settings, driving their market dominance.
On the other hand, Juvenile Hormone Analogues, as the fastest-growing segment, mimic the effects of juvenile hormones, which play a crucial role in insect development. JHAs regulate metamorphosis and reproduction, making them valuable tools for insect population control. Their targeted action and environmentally friendly nature contribute to their rapid growth, particularly in integrated pest management strategies and organic farming practices.
Insect Growth Regulators Market Analysis By Form
In the Insect Growth Regulators (IGRs) Market, the liquid form is currently the dominant segment. Liquid formulations of IGRs are widely used in agricultural and urban pest control applications due to their ease of application, effective coverage, and compatibility with various spraying equipment. They offer targeted control of insect pests by disrupting their growth and development.
On the other hand, the fastest-growing segment in the Insect Growth Regulators Market is the aerosol form. Aerosol formulations of IGRs are gaining traction due to their convenience, ready-to-use nature, and ability to reach hard-to-reach areas. They are particularly popular for indoor pest control in residential and commercial settings, where precise application and minimal residue are desired. The aerosol form's rapid growth is driven by increased consumer awareness of environmentally friendly pest management solutions and the need for efficient insect control methods in indoor spaces. As a result, the aerosol segment is expected to exhibit substantial expansion in the coming years.
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The global insect growth regulators market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the insect growth regulators (IGRs) market, North America stands as the dominant region. The region's robust agricultural sector, stringent regulations on pesticide use, and increasing adoption of integrated pest management practices have contributed to the significant demand for IGRs. The United States and Canada are key contributors to this dominance.
As for the fastest growing segment, Asia-Pacific showcases remarkable growth. The region's expanding population, rising disposable income, and increasing awareness of sustainable farming practices are driving the demand for IGRs. Countries like China, India, and Southeast Asian nations are witnessing rapid adoption of IGRs in agricultural and urban pest control, owing to their efficacy and environmental friendliness. The need to enhance crop yields while minimizing environmental impact fuels the growth of the IGRs market in Asia-Pacific.
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Insect Growth Regulators Market Drivers
Environmental Concerns and Regulatory Support:
Integrated Pest Management (IPM) Practices:
Insect Growth Regulators Market Restraints
Limited Spectrum of Activity:
Development of Resistance:
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The global insect growth regulators (IGRs) market exhibits a competitive landscape with several key players vying for market share. Companies such as Bayer AG, Syngenta AG, Dow Chemical Company, and Sumitomo Chemical Co., Ltd. are prominent participants, offering a range of IGR products for pest control in agriculture and urban settings. These industry leaders emphasize research and development to introduce novel formulations and expand their product portfolios. Collaborations, mergers, and acquisitions are common strategies employed to enhance market presence and capitalize on emerging opportunities. Additionally, regional and local players contribute to the competition by catering to specific market segments and addressing regional pest challenges. The market's competitive dynamics are characterized by innovation, product differentiation, and a focus on sustainable pest management solutions.
Insect Growth Regulators Market Top Player’s Company Profile
Insect Growth Regulators Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global insect growth regulators market analysis, the market is witnessing substantial growth driven by the increasing demand for effective and environmentally friendly pest control solutions. IGRs are synthetic compounds that disrupt the development and reproduction of insects, offering a targeted approach that minimizes harm to non-target organisms and reduces the need for traditional chemical pesticides. The growing awareness of the detrimental effects of conventional pesticides on ecosystems and human health is propelling the adoption of IGRs in agriculture, urban pest management, and livestock protection. Their ability to inhibit molting, egg development, and metamorphosis provides a sustainable means of pest control and resistance management.
Despite their benefits, challenges such as varying effectiveness across different insect species and regulatory hurdles exist. As the demand for safer and more sustainable pest management practices continues to rise, the Insect Growth Regulators Market is expected to expand, driven by innovation, research, and increasing adoption in integrated pest management strategies.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 936.54 million |
Market size value in 2031 | USD 1601.18 million |
Growth Rate | 6.14% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Insect Growth Regulators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Insect Growth Regulators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIG15C2069
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