The global insect growth regulator market size was USD 797.57 Million in 2022 and is expected to reach a value of USD 1491.15 Million in 2032 and register a revenue CAGR of 7.2% during the forecast period. Insect growth regulators (IGRs), which are more in demand due to their eco-friendly and selective nature in managing insect infestation in crops and livestock, are the main factor driving the market revenue growth. IGRs differ from standard Insecticides due to their distinctive method of action, which targets the developmental stages of insects and disrupts their life cycle, hence reducing population growth.

While these factors jointly create opportunities for market growth, there are also limitations to the market due to the critical effects of these insecticides. However, each factor would have a specific impact on the market during the forecast period. The efficiency of organic farming techniques has been improved by consistent developments in the insect growth regulators market resulting from innovative efforts.

In the Asia Pacific region, the market for insect growth regulators is rapidly growing due to rising awareness of improving living standards, professional pest control services, health awareness, and expanding middle-income population. The growing economy in countries like China and Japan is also contributing to market growth due to favorable political, social, and economic conditions. The agricultural and commercial sectors in the APAC region are using these insecticides to prevent pest infestations.

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Other key findings from the report include:

• The agriculture sector held the largest market share of 44.0% in 2018, and farmers are adopting safer alternatives to harmful pesticides for use on livestock and farmland.
• The aerosol form segment is expected to witness the highest CAGR of 6.9% during the forecast period due to its ease of use compared to bait or liquid and its ability to be applied in areas such as joints, small openings, crevices, and cracks.
• Chitin synthesis inhibitors products held the largest market share of 40.3% in 2018, and China became the largest consumer of these pesticides due to the ever-growing agriculture sector and the food and beverage industry in the region, driven by the growing population.
• The Asia Pacific region is expected to witness the highest CAGR of 9.1% during the forecast period, with countries like India, China, Taiwan, South Korea, and Japan rapidly catching up with the growth in the insect growth regulators market.
• Key participants in the market include Bayer AG, Central Life Sciences, Control Solutions, Inc., McLaughlin Gormley King Company, Valent U.S.A LLC, Nufarm Limited, Russell IPM, Dow AgroSciences LLC, Syngenta AG, and Sumitomo Chemical Company Limited, among others.

The report segments the Insect Growth Regulators Market based on type, application, form, and region. The application outlook includes agriculture, residential, and commercial sectors, while the type outlook includes chitin synthesis inhibitors, juvenile hormone analogs and mimics, and anti-juvenile hormone agents. The form outlook includes aerosol, liquid, and bait, and the regional outlook includes North America, Europe, Asia Pacific, MEA, and Latin America.

Insect Growth Regulators Market: Drive factors

The Insect Growth Regulators (IGRs) market is being driven by various factors such as the increasing demand for environment-friendly insecticides, the need to slow down the rate of pesticide resistance, and the usage of safer alternatives to harmful pesticides in agriculture, commercial and residential sectors. The growth of the market is also being fueled by consistent developments in the IGRs market due to innovative efforts that have improved the efficiency of organic farming techniques. In the Asia Pacific region, the rising awareness regarding improving standard of living, professional pest control services, health awareness, and expanding middle-income population are propelling the market at a swift rate. Additionally, the rising economy in countries like China and Japan, along with the growth of the agricultural and commercial sectors, are contributing to the market growth of IGRs. However, factors such as the critical effects of these insecticides also limit the market growth.

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