Insect Growth Regulators Market to Reach USD 2.0 billion by 2032 Driven by Adoption of Environmentally Safe Crop Protection Products | SNS Insider
Insect Growth Regulators Market to Rise with the Advancements in Technology of Pest Control and Agricultural Demand Surge
Austin, Aug. 28, 2024 (GLOBE NEWSWIRE) — According to the SNS Insider report, The Insect Growth Regulators Market Size was valued at USD 1.2 in 2023, and is expected to reach USD 2.0 billion by 2032, and grow at a CAGR of 6.0% over the forecast period 2024-2032.
Increased demand for sustainable agricultural practices has witnessed considerable developments in the technologies pertaining to the control of pests in the Insect Growth Regulators market. Indeed, IGRs, by disrupting the life cycle of pests while proving to be non-detrimental to non-target species and the environment, have seen increased adoption. The trend in recent years has been towards diversified and targeted solutions for pest control, with the development of new IGR products aimed at organic farming and resistant pest species by companies such as BASF SE and Bayer AG. Such a trend is influenced by regulatory policies favoring reduced chemical use and an increase in awareness among farmers regarding alternatives to traditional chemical pesticides, which have also come under scrutiny due to their environmental and health impacts.
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Key Players
- Russel IPM Ltd.
- Bayer CropScience AG
- Valent U.S.A Corporation
- DOW Chemical Company
- Central Gardens
- Syngenta AG
- Nufarm
- ADAMA India Pvt. Ltd.
- Pets Co.
- Sumitomo Chemical Company
Technology also continues to drive the market, offering major improvements in the efficacy and specificity of IGR products. Microencapsulated and slow-release formulations further allow applications to be more precise and extend the protection period given to pests, reducing frequency and cost to farmers. Corteva Agriscience released a new microencapsulated IGR in November 2023 with longer-term protection against a range of insect species. IGRs, because of their low level of toxicity and safety, have been accepted beyond agriculture into residential, commercial, and public health areas. Other research and development continue to put pressure on developing a pest control product with sustaining capacity, expected to further push the market growth.
Insect Growth Regulators Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.2 Billion |
| Market Size by 2032 | US$ 2.0 Billion |
| CAGR | CAGR of 6.0% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Product (Chitin Synthesis Inhibitors, Juvenile Hormone Analogs & Mimics, Anti-juvenile Hormone Agents, Others)
•By Form (Liquid, Aerosol, Bait) •By Application (Agriculture & Gardens, Livestock Pest Control, Commercial Pest Control, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Drivers | • Rising Demand for Pest Control Drives Growth in Insect Growth Regulators Market with Innovations
• Growing Environmental Sustainability Awareness Fuels Insect Growth Regulators Market |
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Segment Analysis
In 2023, the Agriculture & Gardens segment dominated the Insect Growth Regulators market, holding around 45% of the market share. Such dominance by the Agriculture & Gardens segment is driven by fast-growing demand for ecological pest management methods within agricultural settings, where the need to protect crops from pests with minimum environmental consequence is of vital essence. With an increase in the adoption of organic farming methods, especially in North America and Europe, IGR use has been increased because it attacks the insect specifically without affecting other useful insects or leaving harmful residues. Accordingly, companies like BASF SE and Bayer AG have produced specific IGRs for agriculture applications targeting resistant species of pests in general, and organic-friendly products. This is in line with the broader trends of sustainability and food safety, thus further strengthening the dominance of the Agriculture & Gardens segment.
Application of Insect Growth Regulators (IGRs) as Biopesticides for Sustainable Agriculture
The use of the usual pesticides underlines numerous negative externalities, including environmental degradation and pest resistance. The use of biopesticides as alternative agrochemicals, thus, is highly recommended to meet the sustainable development goals. Insect growth regulators (IGRs) belong to the biochemical biopesticides. Biochemical pesticides are compounds, or exact synthetic analogues of compounds, of natural origin that interact with biochemical regulatory systems in the host and have nontoxic consequences on the non-target population or the environment. Ecdysoids and Juvenoids (JH analogs) are some of the most developed IGRs with promising results. Ecdysoids represent the synthetic analogues of natural ecdysone and when applied to insects, they kill them by the formation of defective cuticle. Juvenoids (JH mimics) are synthetic analogues of juvenile hormone (JH). Juvenoids have an anti-metabolic effect on immature stages of insects. Along with this, anti-JH or precocenes which act by destroying the corpora allata and preventing JH synthesis also act as IGR. In this manner, Insect Growth Regulators are potential insecticide substitutes that could be commercially employed.
Recent Developments
March 2023: Bayer CropScience launched new non-systemic IGR, Intrepid, that is effective against many pests such as aphids, mealybugs, and whiteflies.
January 2022: Syngenta Crop Protection AG signed an agreement with Bionema Limited, a technology leader in biocontrol, for the acquisition of two major innovative bioinsecticides, NemaTrident and UniSpore.
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Regional Analysis
North America dominated with the largest revenue share of around 40% in the insect growth regulators market by 2023. Strict regulations and guidelines by numerous regulatory authorities in North America have significantly helped shape the market landscape. Such stringent regulations ensure the safety and effectiveness of insect growth regulators, winning over a greater sense of assurance in consumers and fostering the growth of the market. Furthermore, North America is characterized by numerous large scale farming operations that have spurred high demand for the use of insect growth regulators within the agriculture industry. This is due to the fact that many sectors that are allied to agriculture highly depend on the agricultural inputs to add value in the different ways that they contribute to the economy. Farmers in the region are highly aware of the measures that are put in place for controlling pests and diseases for maximum crop yields. Hence, they have implemented insect growth regulators in their practices as an important tool for pest management, which contributes to market growth.
Key Takeaways:
- Growing adoption of IGRs in agriculture due to their eco-friendly pest control capabilities.
- IGRs are gaining traction in residential, commercial, and public health sectors for their safety and low toxicity.
- Advances in IGR formulations, like microencapsulation and slow-release, are improving pest control effectiveness.
- Regulatory trends favoring reduced chemical pesticide use are boosting the demand for IGRs.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization Analysis by Region
5.2 Feedstock Prices Analysis by Region
5.3 Regulatory Impact: Effects of regulations on production and usage.
5.4 Environmental Metrics Analysis by Region
5.5 Innovation and R&D
6. Competitive Landscape
7. Insect Growth Regulators Market Segmentation, by Product
8. Insect Growth Regulators Market Segmentation, by Form
9. Insect Growth Regulators Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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