The global insect growth regulators market size is expected to reach USD 1.23 billion by 2025, according to a new report by Grand View Research, Inc. Globally increasing consumption of environment friendly pesticides has been a major factor driving market growth. In addition, growing adoption of organic farming techniques has led to the increased utilization of insect growth regulators.
IGRs are considered as a safer alternative to insecticides. These are non-toxic in nature and degrade rapidly. They also do not contaminate the groundwater and soil. The application of IGRs does not lead to harmful effects on advantageous soil microbes, animals, and humans. Numerous advantages of IGRs, such as lesser harmful impact on the environment and enhanced compatibility with pest management practices, make them attractive alternatives to several insecticides.
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Juvenile hormone analogs and mimics were the fastest growing product category in 2016 and is expected to maintain a substantial growth rate over the forecast period. Chitin synthesis inhibitors was the major IGR consumed with a share of over 42% in 2016.
Commercial applications are expected to observe the fastest growth over the next eight years with an estimated CAGR of around 6.7% from 2016 to 2025. Commercial applications of IGRs include government pest control programs at public places, commercial office buildings, schools, hospitals, and aircrafts. Agriculture applications dominated the overall market in 2016. Farmers are adopting safer alternatives of harmful insecticides for application in farmlands and livestock. Moreover, increasing prevalence of organic farming and integrated pest management are posing huge demand towards demand of IGRs insect growth regulators in the global market.
Further key findings from the report suggest:
- The global insect growth regulators revenue generated USD 723.3 million in 2016 and is expected to grow at a CAGR of 6.2% from 2017 to 2025
- Chitin synthesis inhibitors emerged as the largest product segment in 2016
- Global IGRs revenue from agriculture application is anticipated to witness staggered growth over the next eight years
- The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies, especially in the agricultural industry.
- Key players including Bayer AG, Central Life Science, OHP, Inc., Syngenta AG, Dow AgroSciences LLC, Helm Agro US, Inc., Nufarm Limited, Russell IPM, Valent USA LLC
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They are also referred to as birth control for pests. IGRs are also effective against pests that have developed resistance against insecticide. They are non-polluting, bio-degradable, and non-persistent. They are also non-toxic to humans as well as to the beneficial microbes present in the soil. IGRs aid in achieving economies of scale as they are economical and are effective in very minute quantity also.
IGRs are materials which exhibit a very high degree of efficiency. This has resulted in rising demand from various industries including agriculture, residential, and commercial. Rise in integrated pest management and organic farming practices in emerging economies including India and China has played a major role in augmenting the demand in the last few years. This trend is expected to continue over the forecast period.
Increasing use of pesticides is leading to a harmful impact on arable land. Synthetic-based pesticides contaminate the soil and groundwater and have a harmful impact on beneficial bacteria as well as plants. Repetitive usage of these pesticides has led pests to develop a resistance to them, thereby having no effect on the life cycle of the pests. Thus, IGRs serve as an effective mimic hormone interrupting the reproductive cycle of pests.
IGRs are witnessing a huge demand owing to the rising popularity of organic farming. Crop protection products used in organic farming degrade rapidly and have minimal impact on the environment as they are mainly derived from natural sources. Insect growth regulators, botanical extracts derived from plants, synthetic pheromone medications, and several other biological pesticides are commonly used in organic farming. These products have a minimal impact on beneficial pests and on the environment.
Liquid was estimated as the largest market in 2016. They are in the form of lliquid concentrate and are needed to be diluted before the application procedure. Liquid IGRs can also be used as a stand-alone product in case of severe infestations. Though these are staining and leave an odor after application. They are extensively used owing to their cheaper costs and high performance over severe incidences of infestations.
Aerosol is anticipated to witness the fastest growth over the forecast period. Aerosol insect growth regulators are easier to use as compared to other forms such as liquid or bait. They are available in convenient canister packaging enabling easier application. It also allows easier application in areas which are hard to reach such as cracks, small openings, crevices, and joints. An aerosol can be used for spot treatment, fogging as well as surface application. The canister packaging prevents wastage of IGRs, however, it may pose risk of inflammability and explosivity. Also, they are expensive as compared to other forms of insect growth regulators.