The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Bait Insect Growth Regulators market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Bait Insect Growth Regulators
The report offers actionable and valuable market insights of Bait Insect Growth Regulators. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Bait Insect Growth Regulators Market across various industries and regions.
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According to Fact.MR, a market research and analysis provider, the insect regulator market is expected to foresee a growth of around 7% CAGR in the assessment period 2021-2031.
The growth in the agricultural sector and the demand for food has increased by leaps and bounds. This, in turn, expects the food quality to be good. Thus, the use of insect growth regulators has increased. The insect growth regulator market is anticipated to surpass a market value of US$ 1.7 Bn by 2031.
This newly published and insightful report sheds light on Market Insights of Bait Insect Growth Regulators, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Bait Insect Growth Regulators Market.
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Key Segments Covered
- Anti-juvenile Insect Growth Regulators
- Chitin Synthesis Insect Growth Inhibitors
- Juvenile Hormone Analogs & Mimics Insect Growth Inhibitors
- Liquid Insect Growth Regulators
- Aerosol Insect Growth Regulators
- Bait Insect Growth Regulators
- Insect Growth Regulators for Agriculture & Gardens
- Insect Growth Regulators for Commercial Pest Control
- Insect Growth Regulators for Livestock Pest Control
- Insect Growth Regulators for Other Applications
Key Takeaways from the Insect Growth Regulators Market:
- According to Fact.MR, the ability to cover large areas in less time and easy application makes aerosol insect growth regulators an attractive segment. Aerosols are expected to show a growth rate of about 1%, marginally higher than the second fastest growing segment which is liquid.
- In the developing clusters of Asia and Africa the adoption of insect growth regulators is comparatively slower as insect growth regulators are costlier vis-à-vis traditional pesticides.
- Pet-care products market has grown at a swift pace in the past five years and is projected to create an Incremental $ opportunity of US$ 15 Mn in next 8 years . This will create intrinsic opportunities for the insect growth regulators market for pest control in pets
- Among products, Juvenile Hormone Analogs and Anti-Juvenile Hormone Agents together are expected to reach a valuation of about US$ 530 Mn in 2027, expanding by 1.4x the current value.
“The pet care segment holds immense potential for growth, with increasing pet humanization and ever increasing adoption of pets. Players can reap rich benefits by developing products that are specifically targeted at various pet animal groups. ” -states a Fact.MR analyst
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Leveraging Mutual Strengths to Tackle Mounting Competitive Pricing
Insect growth regulators market is fragmented with a high presence of regional competitors. The competition and pricing between them is stiff. Large multinationals including Bayer AG, Dow Chemicals and Syngenta AG have strong geographical presence and high brand value. The companies have focused on strategic acquisitions of smaller companies, so as to increase their foothold in the market
- For instance, MGK acquired the business of Flynexx from Piedmont Animal Health to add the Flynexx granules fly control product and EPA registered Insect Growth Regulator, ‘Cyromazine’ to its product offering.
- The frontrunners in the industry have also aimed at leveraging mutual strengths to promote growth. In April 2018, Bayer, BASF, Mitsui Chemicals, Sumitomo Chemical Company and Syngenta announced collaborative research activities for vector control solutions including insect growth regulators. The companies have also continually focused on development of newer and more effective insect growth regulators. For instance, Bayer launched an insect growth regulator ‘Fludora Fusion’, in Dec 2018, which has cleared the prequalification from WHO to control the growth of malaria causing mosquitoes.
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