According to the latest report by IMARC Group "Insect Growth Regulators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", The global insect growth regulators market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.7% during 2021-2026.
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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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.
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