Insect Growth Regulators Market to Grow with a CAGR of 5.88% through 2028
Rising prevalence of insect-borne diseases is expected
to drive the Global Insect Growth Regulators Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Insect
Growth Regulators Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Insect
Growth Regulators Market stood at USD 729.46 million in 2022 and is anticipated
to grow with a CAGR of 5.88% in the forecast period, 2024-2028. The Global
Insect Growth Regulators (IGRs) have emerged as a revolutionary solution in
pest control and agriculture due to their unique ability to disrupt the growth
and development of insect pests while minimizing environmental impact and
promoting sustainable practices.
One
of the primary drivers of the Global IGRs Market is the increasing demand for
sustainable pest control solutions. As the global population continues to rise,
so does the need for enhanced food production. Farmers are confronted with the challenge
of increasing crop yields while minimizing the use of harmful chemical
pesticides. IGRs provide a viable solution by specifically targeting insect
pests, sparing beneficial organisms, and reducing the overall environmental
footprint of agriculture.
In recent years, there has been a heightened awareness
of the adverse environmental and health impacts associated with traditional
chemical pesticides. Regulatory bodies across the globe have introduced
stringent regulations and restrictions on the use of conventional pesticides,
prompting a shift towards more environmentally friendly alternatives like IGRs.
These regulations have created a conducive environment for the growth of the
IGRs Market, as they align with the broader trend towards sustainability and
responsible pest management. The Global IGRs Market benefits from a diverse
range of products, each with its unique mode of action and target pests.
Juvenile hormone analogs, chitin synthesis inhibitors, and ecdysone agonists
are among the various types of IGRs available. This diversity allows the market
to cater to a wide range of pest control needs, from agriculture and
horticulture to public health and veterinary care. The versatility of IGRs
makes them an attractive choice for a broad spectrum of applications, further
driving market growth.
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Insect resistance to traditional pesticides has become
a significant concern for farmers worldwide. IGRs offer an alternative approach
to pest control that minimizes the risk of resistance development. Farmers and
pest control professionals are increasingly turning to IGRs as part of
integrated pest management (IPM) strategies to combat resistance issues,
further fueling the growth of the IGRs Market.
The Global Insect Growth Regulators Market is
segmented into Product, Application, Regional Distribution, And Company.
Based on the Product, Chitin Synthesis
Inhibitors emerged as the dominant segment in the global market for Global
Insect Growth Regulators Market in 2022. Chitin Synthesis Inhibitors have shown
a lower likelihood of resistance development compared to some other IGR
classes. This characteristic is highly desirable for sustainable pest
management because it reduces the risk of pests evolving resistance to the
treatment over time. Farmers and pest control professionals prefer products
that can be used consistently without rapidly losing efficacy. Chitin Synthesis
Inhibitors often exhibit longer-lasting effects on target pests due to their
impact on the insects' ability to molt and grow. This longevity can reduce the
frequency of applications, resulting in cost savings for growers. Chitin
Synthesis Inhibitors can be integrated into broader pest management strategies,
including biological control and cultural practices. This compatibility allows
for comprehensive Integrated Pest Management (IPM) approaches that combine
multiple tactics to control pest populations effectively.
Chitin Synthesis Inhibitors typically
have a favorable safety profile for humans, non-target organisms, and the
environment. Their mode of action is highly specific to insects, minimizing the
risk of harm to beneficial insects, animals, or humans. Chitin Synthesis
Inhibitors have been available in the market for a longer time compared to some
other IGR classes. Their commercial availability, along with a history of
successful use, has contributed to their widespread adoption.
Based on the Application, the Agriculture segment
emerged as the dominant player in the global market for Global Insect Growth
Regulators Market in 2022. There is a
growing global emphasis on sustainable farming practices that prioritize
reduced chemical use, minimal environmental impact, and the preservation of
biodiversity. IGRs align with these principles as they are highly selective and
target-specific, sparing beneficial insects and minimizing harm to non-target
organisms. This eco-friendly approach is well-suited to modern agriculture's
sustainability goals. Agriculture faces the ongoing challenge of pest
resistance to chemical pesticides. IGRs offer a valuable tool in resistance
management strategies. They have a lower likelihood of resistance development
compared to some traditional pesticides, allowing farmers to maintain their
effectiveness over time. Agriculture is the sector where pest control is of
paramount importance. Insects can cause significant damage to crops, leading to
reduced yields and economic losses. IGRs provide an effective means of
controlling a wide range of agricultural pests while minimizing the use of
traditional chemical pesticides that can have adverse environmental and health
impacts.
Integrated Pest Management is a holistic approach to
pest control that combines multiple tactics, including biological control,
cultural practices, monitoring, and chemical control when necessary. IGRs fit
seamlessly into IPM programs, complementing other control measures and reducing
the reliance on broad-spectrum chemical pesticides.
Asia-pacific emerged as the dominant
player in the global Insect Growth Regulators Market in 2022, holding the
largest market share.
There is a growing awareness of sustainability and environmental responsibility
in North America, both among consumers and within the agriculture industry.
Consumers are increasingly seeking sustainably produced food, which has
prompted growers to adopt eco-friendly pest control practices. IGRs align well
with this trend as they are considered a sustainable and safe option for pest
management. North America boasts an advanced and highly productive agriculture
industry. The region is known for its large-scale commercial farming operations
and a diverse range of crops, including cereals, fruits, vegetables, and more.
To protect these valuable crops from insect pests, North American growers have
turned to IGRs as a safe and effective pest control solution.
North American growers are facing
challenges related to pest resistance to chemical pesticides. IGRs offer a
valuable solution as they have a lower likelihood of resistance development,
allowing for more effective and long-term pest control. This has made IGRs an
attractive choice for integrated pest management (IPM) strategies in the
region.
Major companies operating in Global Insect Growth
Regulators Market are:
- Bayer AG
- Central Life Sciences
- OHP, Inc.
- Syngenta AG
- Dow AgroSciences LLC
- HELM AGRO US, Inc.
- Nufarm Limited
- Russell IPM
- Valent U.S.A LLC
- McLaughlin Gormley King Company
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“The Global
Insect Growth Regulators (IGRs) Market is poised for significant growth in the
coming years. Several key factors are driving this anticipated expansion. there
is a growing global awareness of the adverse effects of traditional chemical
pesticides on the environment and human health. As a result, the demand for
safer and more sustainable pest control solutions, such as IGRs, is on the
rise. stringent regulatory measures in various regions are encouraging the
adoption of IGRs as compliant alternatives to chemical pesticides. the
agriculture industry, which represents the largest share of IGR usage,
continues to seek effective pest management strategies to ensure food security
and meet the demands of a growing global population. Moreover, ongoing research
and development efforts are leading to the introduction of innovative IGR
formulations and products, further enhancing their efficacy and applicability.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Insect Growth Regulators Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented Product
(Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, Ecdysone
Antagonists, Ecdysone Agonists), By Application (Agriculture, Residential,
Commercial) Region and Competition”, has evaluated the future growth potential of Global
Insect Growth Regulators Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Insect
Growth Regulators Market.
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