ALBANY, NY, March 01, 2022 (GLOBE NEWSWIRE) — The global insect growth regulator market is expected to grow at a CAGR of 4.3% from 2021 to 2031. The global market was valued at US$848.4 million in 2020 and is expected to cross the value of US$1.34 billion by the end of 2031. Rising popularity of organic farming is a key factor driving the expansion of the global insect growth regulators market. The global market is driven by the increasing use of pest control strategies in the agriculture, forestry, stored product, gardening, residential sector and other fields.
The market is growing as the demand for alternatives to pesticides that are good for the environment increases. However, the global insect growth regulator market is hampered by the inability to kill adult insects as well as its ineffectiveness as a standalone pest control approach.
In recent years, there has been a growing desire for safer insecticide and pesticide solutions to mitigate the harmful effects of regularly used pesticides. These insecticides or pesticides are harmful to both human health and the environment. This is a major driver of the need for insect growth regulators in developing markets. Insect growth regulators are widely used in agriculture as well as commercial pest control systems to prevent pests and insects from growing naturally at many stages including embryonic and post growth, behavior and reproduction. -embryonic.
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Key Findings of the Market Report
- Insect growth regulators have gained popularity over the past few decades as a class of pesticides that are safe and non-toxic to people and the environment, and able to treat insect pests resistant to traditional insecticides.
- Chitin synthesis inhibitors are expected to account for a significant share of the global insect growth regulator market. The rapidity with which these chemicals act on a large number of insect species, as well as their notable effectiveness in interrupting normal embryonic development, leading to the loss of their eggs, has led to an increase in their use in agriculture.
- Insect growth regulators are used in a variety of ways in conjunction with other biological pest control approaches. These regulators are gaining popularity in a number of fields, due to their lack of toxicity and specificity of action.
- The pest control mechanism is increasingly used in fields such as stored goods, forestry, gardening and agriculture in recent times. It is believed that this increase in the number of applications contributes to the expansion of the global market.
- A significant driving factor attributed to the rapid expansion of the market is the growing presence of companies operating in the global insect growth regulators market. Companies are diversifying their product portfolios in response to growing demand from various end-use sectors. It is believed that the heightened rivalry between major players in the industry offers exciting prospects for establishing a global footprint.
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Global Insect Growth Regulators Market: Growth Drivers
- Currently, North America is likely to control the majority of the global market and is expected to remain so for the foreseeable future. The regional market is driven by significant advancements in insect growth regulator formulations.
- Insect growth regulators are increasingly used in homes to limit the number of fleas, cockroaches and bed bugs, among many other pests
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Global Insect Growth Regulators Market: Key Players
Some of the major players in the market are
- Platform Specialty Products Company
- ADAMA Agricultural Solutions Ltd.
- Central Garden & Pet Co.
- Bayer Crop Science AG
- Sumitomo Chemical Company Ltd.
- Dow Chemical Company
Global Insect Growth Regulators Market: Segmentation
type of product
- Chitin synthesis inhibitors
- Analogs and imitations of juvenile hormones
- anti-juvenile hormonal agents
- Agriculture & Gardens
- Livestock pest control
- Commercial pest control
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