Press release
Insect Growth Regulator Market to Thrive with Sustainable Solutions, Market Share Insights, and Strong Demand Forecasts Driving Growth
Insect Growth Regulator Market
Insect Growth Regulator Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.36 billion In 2028 At A CAGR Of 7.7% :
The insect growth regulator market size has grown strongly in recent years. It will grow from $0.94 billion in 2023 to $1.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growing pest problems, environmental concerns, regulatory support, advancements in formulations.
The insect growth regulator market size is expected to see strong growth in the next few years. It will grow to $1.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing agricultural practices, increased pest resistance, expanded application areas, consumer preferences, global climate change. Major trends in the forecast period include technological advancements, expanding application across industries, advancements in formulations, increasing focus on non-target species, technological advancements, market consolidation.
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Insect Growth Regulator Market Major Segments
The insect growth regulator market covered in this report is segmented -
1) By Type: Chitin Synthesis Inhibitors, Juvenile Hormone Analogs And Mimics, Anti-Juvenile Hormone Agents
2) By Foam: Bait, Liquid, Aerosols
3) By Application: Agricultural, Livestock Pests, Commercial Pest Control
Key Driver - Environment-Friendly Solutions Fuel The Insect Growth Regulators Market
The growing usage of environment-friendly pesticides is significantly contributing to the growth of the insect growth regulators market. Pesticides are chemical elements that are supposed to kill pests such as a virus, bacterium, antimicrobial, or disinfectant that deters, incapacitates, and kills, pests. Environment-friendly crop protection products are being used in organic farming which rapidly degrades and has a minimal environmental impact as these products are derived from natural sources. In addition, it also minimizes the potential risk of chronic poisoning caused by chemical insecticides among its applicants. For instance, in June 2021, according to a report shared by MDPI, a Switzerland-based organization for deposit and exchange of molecular and biomolecular samples, currently on the market, Bacillus thuringiensis, also known as Bt, is the source of about 90% of the microbial biopesticides. There are more than 200 items accessible on the US market, compared to only 60 comparable products on the EU market. Globally, the usage of biopesticides is rising by about 10% annually. Therefore, increasing demand for the growing usage of environment friendly pesticides contributes to the growth of the insect growth regulators market.
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Prominent Trend - Modern Innovations Powering The Insect Growth Regulators Market
The high adoption of modern technologies is a key trend gaining popularity in the insect growth regulators market. Various technologies are used for crop protection and were established to prevent and reduce the loss of crops due to pests in the field and during storage. Crop protection includes products, tools, and practices which can be used by farmers to protect their harvest against insects, disease, and weeds. The advancement and adoption of novel technologies in pesticides increase crop productivity in a naturally sustainable approach. For instance, in November 2021, Syngenta Crop Protection announced PLINAZOLIN technology a novel active ingredient with a new mode of action for insect control. In addition, in August 2021, USDA's Agricultural Research Service (ARS) scientists have developed a new technology of pest control called receptor interference (RECEPTOR-i), which disrupt the physiological processes of fire ants which are essential for staying alive, resulting in a natural biological control strategy.
Insect Growth Regulator Market Players
Major companies operating in the insect growth regulator market report are Bayer CropScience LLC, Syngenta AG, Valent U. S. A Corporation, Russell IPM Ltd., Nufarm Limited, ADAMA Agricultural Solutions Ltd., OHP Inc., McLaughlin Gormley King Company, Dow Inc., Sumitomo Chemical Company Limited, Corteva Agriscience Inc., BASF SE, Element Solutions Inc., Central Garden & Pet Company, Helm Agro US Inc., Control Solutions Inc., Central Life Sciences LLC, Zoecon Professional Products, Panpan Industry Group Co. Ltd., Averstar Industrial Co. Ltd., Algenex S. L., Ÿnsect SAS, Oxitec Ltd., Protix Biosystems, MealFood Europe S. L., Smart Resilin Ltd., Hexafly, Norbite, Koppert Biological Systems, Biobest Group NV, Suterra LLC
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the regulator market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the insect growth regulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Insect Growth Regulator Market Report Structure
3. Insect Growth Regulator Market Trends And Strategies
4. Insect Growth Regulator Market - Macro Economic Scenario
5. Insect Growth Regulator Market Size And Growth
…..
27. Insect Growth Regulator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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