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Global IGR (Insect Growth Regulator) Market Insight 2021-12-31 Comments

The IGR (Insect Growth Regulator) is forecast to Continued growth over the next years. According to the World Knowledge Information (WKI) “Global IGR (Insect Growth Regulator) Professional Survey Report 2021, Forecast to 2026”, The increase in global consumption of environmentally friendly pesticides will become a key factor driving market growth. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 7.23% base on WKI regression analysis model.

 

Analysts’ Viewpoint:
“It is expected that the lack of knowledge of insect growth regulators and the widespread use of conventional insecticides will limit the growth of the insect growth regulator market. It is recommended that the knowledge and use of multi-scientific insect production regulators are very helpful to promote the development of the insect growth regulator market.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
Market insight:
With population growth, reduction of arable land and a surge in food demand, farmers are increasing the use of pesticides to increase crop yields. This leads to pollution of soil and groundwater. The resistance of pests to the repeated use of synthetic pesticides and the increasing awareness of the negative effects of pesticides on arable land and human health are positively affecting global IGR sales. In addition, the use of environmentally friendly crops to produce products has increased, which has boosted the sales of IGR because they are very conveniently used in crops such as cotton, wheat, tomatoes and corn. In addition, due to their high efficiency, the application of IGR in agriculture, residential and commercial fields has increased significantly. This, combined with the increasing adoption of organic farming methods worldwide, has also contributed to the growth of the market. Other factors, such as increasingly serious environmental problems and increased awareness of professional pest control services, are expected to drive market growth.
Factors such as poor effectiveness as an independent control method and only effective in the initial stage of the market growth of pests and insect growth regulators will hinder the growth of the overall market.
Competition Landscape:
In March 2021, Bayer announced the progress of the Crop Science Department’s pipeline project and the newly announced Specialized Research and Development (R&D) pipeline update research. In 2020, Bayer’s pipeline will commercialize ten crop protection formulations and launch three key biotech products. At the same time, it will provide global farmers with more than 430 newly commercialized corn, soybean, cotton and vegetable hybrid varieties and varieties.Major players in the insect growth regulator market include Bayer Cropscience AG, Russel IPM Ltd., DOW Chemical Company, Valent USA Corporation, Sumitomo Chemical Company, Central Gardens and Pets Co., Syngenta AG, Platform Specialty Products Corporation, Nufarm Limited, Adam Agriculture Solutions Ltd.
Segmentation of IGR (Insect Growth Regulator) Market:
According to the type, the market is divided into aerosols, baits and liquids. Liquid insect growth regulators have the largest market share. It can be attributed to the factors that these forms of concentrates have a longer shelf life. Insect growth regulator products come in different forms of concentrates, usually juvenile hormone analogs and mimics. They inhibit the larvae from entering the adult form. Therefore, the portion in liquid form is growing substantially.According to the application, the market is divided into livestock pests, agricultural applications and commercial pest control. During the forecast period, agricultural applications have the largest market share. Due to increased consumer awareness, factors attributable to paradigm shifts are driving demand for this market segment.
IGR (Insect Growth Regulator) Market: Regional Analysis
In terms of geography, the global IGR (Insect Growth Regulator) market has been segmented into: North America, Europe, Asia Pacific, Central and South America, Middle East and Africa.North America dominates the entire market, followed by Europe. The demand in North America is mainly due to the high attention to health that has led to more adoption of safer alternatives to environmentally friendly pesticides. In addition, innovative packaging and the combination of product innovation and high living standards are also supplementing product demand. The Asia-Pacific region is expected to witness the fastest growth during the forecast period. Increasing awareness of professional pest control services, improving living standards, expanding the middle-income population, and improving health awareness are driving demand. The multiple research and development activities carried out in the region will help increase the interest of the agricultural community in IGR and lead to an increase in demand for the global market.

Cagr: 7.23%
Largest share area:North America
Largest share country:the Unite States