According to the latest report by IMARC Group "Insect Growth Regulators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The global insect growth regulators market size reached US$ 921 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,314 Million by 2027, exhibiting a growth rate (CAGR) of 6.41% during 2022-2027.
Insect growth regulators (IGRs) refer to synthetic compounds that facilitate the growth, development, and metamorphosis of various insects. They are obtained using the synthetic analogs of insect hormones, including ecdysoids and juvenoids, and non-hormonal compounds. Affordable, non-toxic and bio-degradable in nature, they function by replicating the hormones present in the insects' bodies.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global market is primarily driven by significant growth in the agricultural sector. With the growing population and the increasing need for food across the globe, there has been a considerable rise in the adoption of IGRs as an environment-friendly crop production product. This is also supported by the rising awareness regarding the negative impact of pesticides on human health and arable land. Some of the other factors contributing to the market growth include increasing environmental concerns among the masses, growing preference for organic farming methods and the rising awareness regarding professional pest control services on the global level.
Breakup by Product:
Chitin Synthesis Inhibitors
Juvenile Hormone Analogs and Mimics
Ecdysone Antagonists
Ecdysone Agonists
Breakup by Form:
Aerosol
Liquid
Bait
Breakup by Application:
Agriculture
Residential
Commercial
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
BASF SE
Central Life Science (Central Garden & Pet Company)
Control Solutions Inc (China National Chemical Corporation)
Dow Inc
Nufarm Limited
OHP Inc. (AMVAC Chemical Corporation)
Russell IPM Ltd
Sumitomo Chemical Co. Ltd.
Syngenta AG.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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