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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