Insect Growth Regulators Market to Cross US$ 1.95 Billion by 2033, Registers 7.1% CAGR, States Fact.MR
Insect growth regulators are increasingly in demand due to the rising need for effective pest control and the shift towards organic and sustainable options, reflecting mounting environmental concerns.
Rockville , Dec. 08, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, a leading provider of market research and competitive intelligence, the global Insect Growth Regulators Market has witnessed robust growth and reached a market value of US$ 916.99 million in 2022. The market is expected to grow at a significant compound annual growth rate (CAGR) of 7.1%, with projections indicating that it will reach a substantial size of US$ 1.95 billion by the end of 2033.
The escalating demand for insect growth regulators in the realms of food storage and agriculture is attributed to their efficacy in curtailing the proliferation of insects and pests. In response to mounting apprehensions about the environmental impact of chemical regulators, suppliers are increasingly directing their efforts toward the development of sustainable and organic insect growth regulators.
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Key Segments of Insect Growth Regulators Industry Research Report
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The industry is witnessing notable growth owing to the precision of various insect growth regulators in targeting a specific spectrum of insects. Their compatibility with other pest control systems further amplifies product demand. Additionally, the surge in global temperatures has led to the increased prevalence of pests and insects, fostering a highly favorable environment for the expansion of insect growth regulators.
Factors Driving Insect Growth Regulators Market Growth:
Agricultural Industry Expansion:
One of the main factors driving the global sales of insect growth regulators is the expanding agricultural industry, which is a result of the growing demand for food worldwide.
Environment-Friendly Pesticides:
A considerable increase in the use of environmentally friendly pesticides is anticipated to be a key driver of market expansion. Because they are non-toxic, non-polluting, and biodegradable, insect growth regulators are promoted as environmentally friendly options.
Integrated Organic Farming:
The increasing adoption of integrated organic farming practices across emerging economies is predicted to amplify the demand for insect growth regulators across diverse sectors, including commercial, residential, and agricultural, over the coming decade.
Global Market Projections:
South Korea:
- Sales of insect growth regulators in South Korea are forecasted to exhibit a commendable CAGR of 4.4%, reaching a substantial US$ 52.65 million by the year 2033.
Aerosol Insect Growth Regulators:
- The global demand for aerosol insect growth regulators is projected to witness a robust CAGR of 6.2%, soaring to US$ 918.5 million by the conclusion of 2033.
Insect Growth Regulators: A Sustainable Approach:
Hormonal Disruption:
- Functioning as synthetic chemicals, insect growth regulators operate by disrupting the reproductive cycle of insects, leading to their demise. This is achieved through mimicking hormones present in the insects’ bodies.
Environmental Benefits:
- Key attributes of insect growth regulators, including being non-persistent, bio-degradable, and environmentally friendly, contribute significantly to their acceptance and adoption in pest management strategies.
Regional Insights:
United States – Consumer Spending on Pet Care:
In the U.S., a robust CAGR of 6.1% is anticipated, reaching an estimated US$ 493.37 million by 2033. This growth is attributed to heightened consumer spending on pet care products, reflecting a burgeoning market segment.
United Kingdom – Environment-Friendly Crop Protection:
Sales in the U.K. are predicted to grow at a noteworthy CAGR of 5.9%, surging to an estimated US$ 95.55 million. This growth is primarily fueled by an increasing demand for eco-friendly insect growth regulators, particularly in crop protection.
India – Concerns about Food Quality:
In India, a robust CAGR of 7.8% is projected, with the market expected to reach a value of US$ 274.96 million by 2033. The growth is spurred by escalating concerns about health, food quality, and a notable emphasis on eco-friendly solutions in pest control practices.
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| Report Attribute | Details |
| Value Projection (2033) | USD 1.95 Billion |
| Growth Rate (2023-2033) | 7.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 108 Tables |
| No. of Figures | 81 Figures |
Competitive Landscape:
Key players in the insect growth regulators industry including Nufarm, Bayer, Syngenta, and Sumitomo Chemical Company, showcase a strong commitment to innovation. They offer a spectrum of products ranging from conventional inhibitors to novel anti-juvenile hormone agents, addressing evolving challenges effectively.
New Product Launches:
- Bayer’s Vayego 200 SC and Syngenta’s introduction of novel insect growth regulators exemplify the industry’s dedication to innovation. These product launches underscore the ongoing efforts of key players to stay at the forefront of technological advancements and address emerging market needs.
In conclusion, the global insect growth regulators market is positioned for substantial and sustained growth. Driven by multifaceted factors, including robust agricultural activities, increased focus on eco-friendly pest management solutions, and dynamic consumer trends, the market showcases promising prospects. Key industry players continue to drive innovation, ensuring the market’s progressive trajectory and sustainability.
Checkout More Related Studies Published by Fact.MR Research:
Insect Repellent Market: The global insect repellent market accounts for a revenue value of US$ 5.3 billion and is forecasted to surpass US$ 9.9 billion by 2033-end. Demand for insect repellents is estimated to increase rapidly at a CAGR of 6.5% from 2023 to 2033.
Home Insecticides Market: The global home insecticides market is expected to secure US$ 14.96 Billion in 2022. The global home pesticides market is projected to exhibit a CAGR of 6.84% while garnering a market value worth US$ 29 Billion.
Body Worn Insect Repellent Market: The valuation of the global body worn insect repellent market is US$ 464 million for 2022 and is likely to reach US$ 975 million by 2032-end, with demand predicted to increase rapidly at a CAGR of 7.7% through 2032.
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