According to the latest report by IMARC Group, titled "Insect Growth Regulators Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," the global insect growth regulators market reached a value of US$ 921 Million in 2021. Insect growth regulators or pest birth control are substances that inhibit insect growth and development. It is utilized to break the life cycle of pests by limiting them from reaching the maturity stage and further restricting them from reproducing. Farmers widely prefer insect growth regulators as an alternative to pesticides. These regulators are more selective and less destructive to the environment. They are non-toxic to humans and the beneficial microbes in the soil. As a result, they are widely utilized in residential, industrial, and agricultural applications.
Global Insect Growth Regulators Market Trends:
The global market is majorly driven by the increasing demand for environment-friendly crop production products. In line with this, the widespread prominence of integrated pest management and organic farming practices among farmers are significantly contributing to the market across the globe. Furthermore, the growing awareness regarding professional pest control services is positively influencing the market. Moreover, the increasing concerns regarding food quality among the masses are catalyzing the product demand. Besides, the growing concerns over environmental toxicity and mammalian safety accelerate the demand for biodegradable product variants, thus propelling the market growth. Additionally, multiple market players are focusing on developing organic and sustainable insect growth regulators, thereby providing a boost to the market. On account of the factors above, the market is anticipated to reach a value of US$ 1,314 Million by 2027, exhibiting a CAGR of 6.41% during 2022-2027.
- Based on the product, the market has been segmented into chitin synthesis inhibitors, juvenile hormone analogs and mimics, ecdysone antagonists, and ecdysone agonists.
- Based on the form, the market has been categorized into an aerosol, liquid, and bait.
- Based on the application, the market has been classified into agriculture, residential, and commercial.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include BASF SE, Central Life Science (Central Garden & Pet Company), Control Solutions Inc (China National Chemical Corporation), Dow Inc, Nufarm Limited, OHP Inc. (AMVAC Chemical Corporation), Russell IPM Ltd, Sumitomo Chemical Co. Ltd. and Syngenta AG.
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