The Insect Growth Regulators market is set to grow at a 6.7% CAGR from 2021-2026, driven by agricultural demand and environmental concerns.
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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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The article discusses the growth and trends of the Insect Growth Regulators market from 2021 to 2026.
IGRs are synthetic compounds that aid in the growth and development of insects, used primarily in pest control.
Significant growth in the agricultural sector and environmental concerns drive the IGR market.
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