Insect Growth Regulator (IGR) Market - Global Industry Analysis

Insect Growth Regulator (IGR) Market

Insect Growth Regulator (IGR) Market Size, Share, Analysis and Forecasts 2028

Category: Pharmaceutical Report Format : PDF Pages: 180 Report Code: ZMR-2665 Published Date: May-2022 Status : Published

Insect Growth Regulator (IGR) Market

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Methodology

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Growth inhibitors or insect growth regulators are products or materials that interrupt or inhibit the life cycle of a pest.  Many people loosely use the terms birth control for roaches or birth control for fleas.  If an animal cannot reach adulthood, it is not capable of reproducing.  By inhibiting the maturity of an insect, one can keep it from reaching the critical adult stage, thus stopping the life cycle and infestation. The global demand has seen a paradigm shift due to raising awareness among consumers. Agriculture emerged as the largest application segment and accounted for over 35% of the total market revenue in 2017. The rise in integrated pest management and organic farming practices in emerging economies have played a major role in augmenting the demand in the last few years. This trend is expected to continue over the forecast period.

The key factors that drive the growth of insect growth regulator market include the adoption of environmentally safe crop protection products and wider applicability of insect growth regulators in commercial pest control usage. The restraining factors are that insect growth regulator products are effective only in the initial stages of pest and insect growth and are less effective when they are used as a stand-alone control method. They have a low knockdown effect when used as a stand-alone product as they only control the growth stages among insects and pests; do not kill them directly.

 

Based on product type the market is segmented into chitin synthesis inhibitors, juvenile hormone analogs and mimics inhibitors and anti-juvenile hormone agents. On the basis of the type of form, the market is segmented into bait, liquid, and aerosol. Based on the application the market is segmented into agricultural, residential, commercial and others category.  

North America dominates the overall market followed by Europe. The demand in North America is majorly contributed by high concerns towards health leading to the higher adoption of safer alternatives to pesticides which are eco-friendly. Moreover, innovative packaging, as well as product innovations coupled with high standards of living, is also supplementing the product demand. The Asia Pacific is anticipated to witness the fastest growth over the forecast period. Rising awareness regarding professional pest control services, improving the standard of living, expanding middle-income class population, and rising health awareness are contributing towards demand. Several research and development activities conducted in the region will contribute to growing interest for IGRs in the farming community and result in improving demand for the global market.

Some of the key players in insect growth regulator market includes ADAMA Agricultural Solutions Ltd., Bayer Crop Science AG, Dow Chemical Company, Syngenta AG, Nufarm Ltd., Platform Specialty Products Corporation, Sumitomo Chemical Company Ltd., Central Garden & Pet Co., and Russell IPM Ltd. Currently, the market’s growth rate is very high, which has encouraged the leading players to focus on consolidation through product licensing and long-term partnerships in order to gain maximum share in the market.

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