In a recent business intelligence study, FactMR presents the nitty-gritty of the global insect growth regulators market considering 2014-2018 as the historic year and 2019–2027 as the stipulated time frame. The business report highlights the drivers, restraints, opportunities and trends affecting insect growth regulators market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
Though the reaction time of insect growth regulators is long, which impacts the sale of insect growth regulators as compared to pesticides and insecticides, the characteristic falling in the favor of insect growth regulators is their selective effectiveness on pests which they are specially designed to tackle. The insect growth regulators market, even though being smaller than that of pesticides, is thus predicted to make good growth in the upcoming decade, crossing the market value mark of ~ US$ 1 Bn by 2025, which is an impressive 33% growth from current market value.
Aerosol Form of Insect Growth Regulators Changing Market Dynamics
The effectiveness of aerosol form of insect growth regulator will cover maximum area with minimum effort and time and makes it the most attractive segment in the insect growth regulators market. Aerosols are easy to spray and can be utilized for both in-house and outdoor usage. The minute droplets in aerosols also effectively cover a large population of pests in less time, thus, making them faster to use. The liquid form of insect growth regulators is currently holding a major share in the market, owing to lower costs and similar application characteristics as aerosol, but aerosol-based insect growth regulators are catching up with a strong growth rate of about 4.7%.
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Availability of Alternative Products to Impede the Growth of Insect Growth Regulators
Insect growth regulators’ primary function is to regulate the population of pesky insects. This function is similarly performed by well-established alternatives of insect growth regulators, insecticides and pesticides. These substitutes not only perform at faster rates, they also are cheaper than insect growth regulators. Another substitute for insect growth regulators are bait systems, which utilize light, sound and other forms of energy such as heat and electricity to attract and zap insects. Such alternatives are not only harmless to humans and other animals, but also require less periodic purchases, thus, making them attractive as insect growth regulators. Such products are expected to impede the growth of the insect growth regulators market.
Brand Image and Quality products- Key Success factors
The insect growth regulators market consists of players ranging from chemical industry giants such as Bayer, BASF, Dow and Sumitomo along with quite a number of smaller manufacturers such as Zoecon Professional Products, Panpan Industry, and Averstar Industrial Co. Ltd., etc. Household consumers rely significantly on the brand image for selection of insect growth regulators for their home as they have little knowledge regarding the chemicals used in the product and their characteristics.
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Corporates on the other hand, take into consideration multiple characteristics regarding the selection of insect growth regulators. This is not only to fulfil the stringent regulations regarding pesky pests put up by organizations such as FDA and USDA, but also to keep their products consumable and non-toxic. Thus, it is imperative for market participants to not only grow into a brand name but also maintain the quality and effectiveness of their products. With increasing food processing industries coming up in the upcoming decade, the market for insect growth regulators is set to expand at a steady pace.
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