Insect Growth Regulator (IGR) Market Is Likely To Grow At A CAGR Value Of Around 5.9% By 2028

Insect Growth Regulator (IGR) Market - Global Growth, Share, Trends, Demand and Analysis Report Forecast 2028

SUITE N202, NEW YORK, UNITED STATES, January 20, 2023 /EINPresswire.com/ -- 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) Markets.

Insect regulators are compounds that impede insect growth and development and are used to control pest birth. They're frequently used in residential, industrial, and agricultural applications, and farmers prefer insect regulators to broad-spectrum pesticides. The growing pest population is one of the primary factors projected to boost the global Insect Growth Regulators Market. In addition, the growing use of environmentally friendly pesticides, rising consumption of environmentally friendly pesticides, rising adoption of organic farming techniques, and rising adoption of environmentally safe crop protection products are some of the factors that may support the growth of the insect growth regulators market during the forecast period. The rise and expansion of the metals sector, particularly in developing nations, and an increase in the number of local parks worldwide are some other reasons driving the growth of the insect growth regulators market. The expanding research and development initiatives to improve the potency of insect growth regulators may generate new chances for the insect growth regulators market within the above-mentioned amount. Moreover, the growing preference of farmers for organic farming as a result of rising demand for organic food, less stringent laws for insect growth regulators, and a growing off-patent crop protection chemicals market provide favorable growth opportunities. 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.

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The Insect Growth Regulator (IGR) Market

The Insect Growth Regulator (IGR) Market is segregated based on Product, Form, and Application. Based on Product, the global market is distinguished into Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, Ecdysone Antagonists, and Ecdysone Agonists. Based on Form, the global market is distinguished into Aerosol, Liquid, and Bait. Based on Application, the global market is distinguished into Agriculture, Residential, and Commercial.

The insect growth regulators market is expected to be dominated by North America. The region's high adoption of newer, less hazardous pest management solutions for a variety of applications is projected to contribute to the market's growth. Significant advancements in advanced insect growth regulator formulations are fueling the regional market. This sector is also being boosted by the presence of a number of well-known enterprises in the area. During the projection period, the Asia-Pacific area is expected to develop rapidly. Demand is being driven by rising knowledge of professional pest control services, and expanding middle-income class population, rising living standards, and greater health consciousness. Several R&D efforts conducted in the region, as well as significant governmental initiatives and current projects, would enhance the APAC market. The region's demand for meat and poultry products is being driven by a rise in population and income levels, as well as changing dietary trends. As a result, the demand for insect growth regulators to control numerous pests that target these crops and animals is predicted to rise.

Key players functioning in 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.

Recent developments:

In 2021, In a dedicated research and development (R&D) pipeline update for the Crop Science business, Bayer reported pipeline project advancements and newly unveiled research. In 2020, Bayer's pipeline marketed ten crop protection formulations and advanced three significant biotech products for launch, while also supplying farmers worldwide with over 430 newly commercialized hybrids and varieties of maize, soybeans, cotton, and vegetables.

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Insect Growth Regulator (IGR) Market is segmented as follows:

By Product

Chitin synthesis inhibitors
Juvenile hormone analogs and mimics
Ecdysone Antagonists
Ecdysone Agonists
By Form

Aerosol
Liquid
Bait
By Application

Agriculture
Residential
Commercial
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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