The global insect growth regulators (IGRs) market is expected to reach USD 1.23 billion by 2025, according to a new report by Grand View Research, Inc. Globally increasing consumption of environment friendly pesticides has been a major factor driving market growth. In addition, growing adoption of organic farming techniques has led to the increased utilization of insect growth regulators.
IGRs are considered as a safer alternative to insecticides. These are non-toxic in nature and degrade rapidly. They also do not contaminate the groundwater and soil. The application of IGRs does not lead to harmful effects on advantageous soil microbes, animals, and humans. Numerous advantages of IGRs, such as lesser harmful impact on the environment and enhanced compatibility with pest management practices, make them attractive alternatives to several insecticides.
Juvenile hormone analogs and mimics were the fastest growing product category in 2016 and is expected to maintain a substantial growth rate over the forecast period. Chitin synthesis inhibitors was the major IGR consumed with a share of over 42% in 2016.
Commercial applications are expected to observe the fastest growth over the next eight years with an estimated CAGR of around 6.7% from 2016 to 2025. Commercial applications of IGRs include government pest control programs at public places, commercial office buildings, schools, hospitals, and aircrafts. Agriculture applications dominated the overall market in 2016. Farmers are adopting safer alternatives of harmful insecticides for application in farmlands and livestock. Moreover, increasing prevalence of organic farming and integrated pest management are posing huge demand towards demand of IGRs insect growth regulators in the global market.
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Further key findings from the report suggest:
The global insect growth regulators revenue generated USD 723.3 million in 2016 and is expected to grow at a CAGR of 6.2% from 2017 to 2025
Chitin synthesis inhibitors emerged as the largest product segment in 2016
Global IGRs revenue from agriculture application is anticipated to witness staggered growth over the next eight years
The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies, especially in the agricultural industry.
Key players including Bayer AG, Central Life Science, OHP, Inc., Syngenta AG, Dow AgroSciences LLC, Helm Agro US, Inc., Nufarm Limited, Russell IPM, Valent USA LLC
Grand View Research has segmented the global insect growth regulators market on the basis of product, form, application and region:
Insect Growth Regulators Product Outlook (Revenue, USD Million, 2014 - 2025)
Chitin synthesis inhibitors
Juvenile hormone analogs and mimics
Insect Growth Regulators Form Outlook (Revenue, USD Million, 2014 - 2025)
Insect Growth Regulators Application Outlook (Revenue, USD Million, 2014 - 2025)
Insect Growth Regulators Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
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