Global Insect Growth Regulator Market- WishTree Insight

Global Insect Growth Regulator Market by Type (Chitin Synthesis Inhibitors, Juvenile Hormone Analogs & Mimics), Form (Liquid, Aerosol, and Bait), Application (Agriculture Application, Livestock Pest, Commercial Pest Control), and Regions, (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Insect Growth Regulator market size was valued at USD 0.92 billion in 2022 and is expected to surpass USD 1.5 billion by 2032, expanding at a CAGR of 6.45 % during the forecast period, 2022–2032. The market's growth is attributed to the rising demand for eco-friendly and safe alternatives to inhibit insect growth.

INTRODUCTION

The insect growth regulator market refers to the market for products that control insect pests by disrupting their average growth and development. Insect growth regulators (IGRs) are chemicals that mimic or interfere with insect hormones, preventing the insects from completing their life cycle or reproducing.

The global insect growth regulator market is expected to experience significant growth in the coming years due to increasing demand for safe pest control solutions for humans and the environment. The market is driven by the increasing awareness of the harmful effects of synthetic pesticides and the growing demand for sustainable pest management practices.

These companies are investing heavily in research and development to improve the effectiveness and safety of their insect growth regulator products.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing usage of environment-friendly insecticides for crop production is driving the insect growth regulator market.
• Rising demand for organic food products is a key factor driving the market.
• The growth and expansion of the metals industry in developing economies and the surge in the number of local parks globally are propelling the market growth.
• Increasing pest population market is expected to boost the market.
• Growing concerns over environmental toxicity and mammalian safety are anticipated to propel the demand for the insect growth regulator market.

Scope of the Report

Market Segment Insights

The chitin synthesis inhibitors segment is projected to register a considerable CAGR

Based on type, the insect growth regulator market is divided into chitin synthesis inhibitors, juvenile hormone analogs & mimics. The chitin inhibitors segment is expected to expand rapidly during the forecast period owing to their ability to restrict early growth among insects by inactivating chitin synthesis.

The liquid segment is expected to expand at a rapid pace

Based on form, the insect growth regulator market is divided into liquid, aerosol, and bait. The liquid segment is expected to expand rapidly during the forecast period due to these forms of concentrates having a longer shelf life.

The agriculture application segment is projected to register a considerable CAGR

On the basis of application, the insect growth regulator market is segregated into agriculture application, livestock pest, and commercial pest control. The agriculture application segment is projected to register a considerable CAGR during the forecast period owing to a paradigm shift due to rising awareness among consumers is boosting the demand for the segment.

North America dominates the market

In terms of regions, the insect growth regulator market is classified as APAC, Europe, North America, and LAMEA. The market of North America dominates the market and is expected to constitute a key share of the market during the projected period. The growth is attributed to the increasing demand for organic food in the region. However, the market of the Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to the growing demand for sustainable pest management solutions and the increasing adoption of IGRs in agriculture.

Competitive Landscape

Key players competing in the Insect Growth Regulator market are Valent USA Corporation; Bayer Crop Science AG; Nufarm Ltd.; Central Garden & Pet Co.; Syngenta AG.

FAQs

How much is the market worth?

The Insect Growth Regulator market size was valued at USD 0.92 billion in 2022 and is expected to surpass USD 1.5 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 6.45%.

What are the key drivers of the market?

The market's growth is attributed to the rising demand for eco-friendly and safe alternatives to inhibit insect growth.

What segments are covered in the Insect Growth Regulator report?

The segments covered in the report are type (chitin synthesis inhibitors, juvenile hormone analogs & mimics), form (liquid, aerosol, and bait), and application (agriculture application, livestock pest, commercial pest control).

Mention which region is expected to hold the highest share of the Insect Growth Regulator market.

The North American region is expected to hold the highest share of the Insect Growth Regulator market.

Which segment holds the largest market share in the Insect Growth Regulator by 2032?

The agriculture segment holds the largest market share in the Insect Growth Regulator by 2032.

Mention the key players in the market.

Key players competing in the Insect Growth Regulator market are Valent USA Corporation; Bayer Crop Science AG; Nufarm Ltd.; Central Garden & Pet Co.; Syngenta AG.