The Insect Growth Regulator (IGR) Market was worth around USD 872.1 million in 2021 and is estimated to grow to about USD 1,230.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period.
Industry Prospective:
The Insect Growth Regulator (IGR) Market was worth around USD 872.1 million in 2021 and is estimated to grow to about USD 1,230.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the Insect Growth Regulator (IGR) Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Insect Growth Regulator (IGR) Market
Insect Growth Regulator (IGR) Market: Overview
IGRs are man-made compounds that disrupt the insect's reproductive cycle and eventually kill it. They imitate the hormones found within the insect's body and hinder its growth during the molting stage. The rising global usage of environmentally-friendly pesticides is predicted to be a major driver of market expansion. IGRs are materials that have a high degree of efficiency. As a result, demand from a variety of industries, including agriculture, residential, and commercial, has increased. In recent years, the development in integrated pest control and organic farming methods in rising nations such as India and China has played a significant influence in increasing demand. This pattern is predicted to continue throughout the projected period. Due to the growing popularity of organic farming, IGRs are in high demand. Crop protection compounds used in organic farming break down quickly and have a little environmental impact because they are primarily derived from natural sources. Thus driving the growth of the market. Furthermore, growing worries about environmental toxicity and human safety drive the need for biodegradable insect growth regulators. Other factors likely to boost the growth of the worldwide Insect Growth Regulators Market include increased awareness of the adverse effects of insecticides on the environment and increased acceptance of ecologically safe crop protection products.
Covid-19 Impact
Over the pandemic period, almost every industry in the world has suffered a setback. This is due to major disruptions in their separate manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other limitations imposed by governing bodies around the world. The same is true for the global market for Insect Growth Regulator (IGR). Furthermore, consumer demand has subsequently decreased as people are now more focused on decreasing non-essential expenses from their separate budgets as the general economic condition of most people has been badly impacted by this outbreak. These factors are projected to weigh on the revenue trajectory of the global Insect Growth Regulator (IGR) market throughout the forecast period. However, when individual governing bodies begin to relax these imposed restrictions, the global Insect Growth Regulator (IGR) market is likely to rebound.
Insect Growth Regulator (IGR) Market: Driver
In recent years, there has been an increasing desire for safer insecticides and pesticide products to lessen the adverse impacts of regularly used pesticide products. These insecticides or pesticides are hazardous to both human health and the environment. This is a significant component of the rising need for insect growth regulators in emerging economies. Insect growth regulators are widely employed in the agriculture industry and commercial pest management systems to suppress the normal growth of pests and insects at many stages, including embryonic and post-embryonic development, behaviour, and reproduction. The rising demand for environmentally friendly crop protection products is driving the growth of the insect growth regulator market. Various continuous research and development activities in developing a new variety of safe and environmentally acceptable solutions aid in the exponential expansion of the insect growth regulator market.
Insect Growth Regulator (IGR) Market: Restraint
The main limitations are that insect growth regulator chemicals are only effective in the early phases of pest and insect growth and are less efficient when used as a stand-alone control technique. When used as a stand-alone treatment, they have a modest knockdown effect since they only affect the growth stages of insects and pests rather than killing them directly. In addition, a lack of understanding of insect growth regulators, as well as the present use of traditional pesticides, may serve as limitations on the growth of the insect growth regulators market over the aforementioned period.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Insect Growth Regulator (IGR) Market: Segmentation
The Insect Growth Regulator (IGR) Market is segregated based on Product, Form, and Application.
By Product, the market is classified into Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, Ecdysone Antagonists, and Ecdysone Agonists. In the forecast period, the chitin synthesis inhibitors category accounted for the highest percentage of all insect growth regulators. This sector is dominated by their capacity to limit early growth in insects by inhibiting chitin production, which is crucial for exoskeleton development. Chitin synthesis inhibitors prevent the creation of new chitin by inhibiting the enzyme that catalyzes this reaction, resulting in insect mortality or slowed growth.
By Form, the market is classified into Aerosol, Liquid, and Bait. In the forecast period, the liquid was anticipated to be the largest market. They are in the form of a liquid concentrate and must be diluted before application. In severe infestations, liquid IGRs can also be utilized as a stand-alone product. Despite the fact that these are staining and leave an odor after application. They are widely utilized because of their low cost and great efficacy against severe infestations. Aerosol is expected to grow the fastest during the projected period. Aerosol insect growth regulators are more convenient to utilize than other types such as liquid or bait. They come in compact canister form for simpler applications.
By Application, the market is classified into Agriculture, Residential, and Commercial. Agricultural applications will account for the majority of the market share during the projection period. The elements that can be linked to a paradigm change as a result of increased consumer awareness are boosting demand for this market. Insect growth regulator (IGR) products are widely used in agriculture for crops such as cereals, oilseeds and pulses, fruits and vegetables, and others.
Regional Landscape
North America leads the global market in the forecast period. The demand in North America is mostly driven by health concerns, which have resulted in greater adoption of safer, eco-friendly alternatives to pesticides. Furthermore, new packaging, as well as product developments along with high living standards, are complementing product demand.
Over the predicted period, Asia Pacific is expected to grow the fastest. Rising demand is being driven by increased awareness of professional pest control services, an improving standard of life, an expanding middle-income class population, and increased health awareness. Several research and development efforts carried out in the region would contribute to a growing interest in IGRs among farmers, resulting in increased demand for the worldwide market.
Competitive Landscape
Some of the main competitors dominating the Insect Growth Regulator (IGR) Market include - 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, Sumitomo Chemical Company Limited, Control Solutions Inc.
Insect Growth Regulator (IGR) Market is segmented as follows:
By Product
By Form
By Application
By Region
This report is based on in-depth qualitative and quantitative analyses of the global Insect Growth Regulator (IGR) market. Zion Market Research has collected and analyzed key data belong to the global Insect Growth Regulator (IGR) market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Insect Growth Regulator (IGR) across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Insect Growth Regulator (IGR) industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Insect Growth Regulator (IGR) market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
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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The rising global usage of environmentally-friendly pesticides is predicted to be a major driver of market expansion. IGRs are materials that have a high degree of efficiency. As a result, demand from a variety of industries, including agriculture, residential, and commercial, has increased. In recent years, the development in integrated pest control and organic farming methods in rising nations such as India and China has played a significant influence in increasing demand. This pattern is predicted to continue throughout the projected period.
According to the Market Research report, the Insect Growth Regulator (IGR) Market was worth about 872.1 (USD million) in 2021 and is predicted to grow to around 1,230.1 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 5.9 percent.
North America leads the global market in the forecast period. The demand in North America is mostly driven by health concerns, which have resulted in greater adoption of safer, eco-friendly alternatives to pesticides. Furthermore, new packaging, as well as product developments along with high living standards, are complementing product demand.
Some of the main competitors dominating the Insect Growth Regulator (IGR) Market include - 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, Sumitomo Chemical Company Limited, Control Solutions Inc.
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