Insect Growth Regulators Market Trends

Growth Drivers

• Increasing Demand for Insecticide Alternatives- Insecticides are harmful to the environment, therefore there has been an increasing demand for insecticide alternatives such as insect growth regulators.

• Growing Demand for Food – Hunger is a common phenomenon associated with food shortages. Given the growing population, the demand for food is expected to increase significantly to prevent hunger. This trend is expected to increase sales of insect growth regulators for crop production. Global cereal food demand is expected to be about 10 billion tons by 2030 and is expected to increase steadily to reach 15 billion tons by 2050. 

• Growing Government Initiatives towards Sustainable Pest Control - Insect growth regulators are a type of bio-rational substance that is safe for people and also works well with biopesticides. As a result, governments are taking several actions to support pest management that is sustainable and less dangerous for people. For instance, the political intention to decrease the use of conventional pesticides and promote the use of biological pesticides has coincided with recent legislation in the European Union.

Challenges

• Side Effects on Environment and Organism – Insect growth regulators can harm the reproductive organs, such as eggs that are treated with insect growth regulators may never hatch while adults might become sterile. Furthermore, it can be also harmful to the environment.

• Lack of Regulatory Standards Associated with Utilization

• Additional Expenses Incurred in the Production Process