The sales of insect growth regulators in Belgium, expressed in Unit Kilograms, have experienced significant fluctuations over the years. Between 2013 and 2017, there were dramatic changes, including a peak in 2016 and a sharp decline in 2017. Post-2017, the market saw moderate variations, with slight increases and decreases each year, culminating in a steady decline from 2019 onwards.
In 2023, the market stood at 80 kg, showing a 4.76% decrease from the previous year. Over the last five years, the compound annual growth rate (CAGR) was -7.16%, indicating an overall declining trend. Forecasting into the future, the market is expected to decline at a CAGR of -5.34%, reaching 57 kg by 2028, representing a 24% decrease over the next five years.
Future trends to watch for:
- Increasing regulatory pressures and environmental policies could further suppress market growth.
- Innovations and advancements in alternative pest control methods may impact sales.
- Market adaptations in response to climate change and its effects on pest populations.
