- Press Release
- Pest Control Products And Services Market to Surpass US$ 30 Billion by 2027
Pest Control Products And Services Market to Surpass US$ 30 Billion by 2027 - Coherent Market Insights
Published On : Mar 02, 2020
Pest control helps in the management of species called pests by killing or repelling their attacks on human activities. This pest includes insects, rodents, Cockroaches, bedbugs, termites, ants, and bed bugs. These pests not only destroy the crops but also affects the day-to-day life activity of human. Pest control is done across a wide range of application such as agriculture, buildings, residential buildings, commercial, and industries. Pest control is also important across animal husbandry and poultry to destroy the pest from fodder crops. Pest control products are used to maintain the good health of human and hygienic lifestyles and these products are available in different such as mechanical, chemical, biological, and others. Agricultural, commercial, industrial, and residential are some of the major end-user of pest control products and services.
The global pest control products and services market was estimated to account for US$ 19 billion in terms of revenue in 2018 and is predicted to grow at a CAGR of 5.2% during the forecast period (2019 to 2027)
Drivers
Increasing urban population around the globe is a major factor fueling the market growth of pest control products and services. The increasing urban population has resulted in rising in food sources and conducive living habitats for pests such as rodents, cockroaches, and mosquitoes. Moreover, rapid migration from rural areas to urban, especially in India and Indonesia, is also expected to foster the market growth of pest control products and services. According to the UN statistics, 54% of the world’s population resided in urban areas in 2014; this is projected to increase to 66% by 2050.
Market Opportunities
Growth of pests, particularly bedbugs, in the hospitality sector could affect hygiene and damage the reputation of the firm. This factor is promoting end-users increase expenditure on pest control products and services and this factor is expected to propel the market growth of pest control products and services over the forecast period. Moreover, growing concern over the growth of termite infestation especially in the U.S. region is further projected to favor the market growth.
Market Restraints
Rising implementation of strict government regulations to reduce the level of chemical toxicity and limit the use of highly toxic pesticide which has a negative impact on the environment is expected to restrict market growth. Moreover, new regulations were issued by the European Union (EU) in 2016 pertaining to the usage of rodenticides that restricts the external use of rodenticides for rats. Moreover, in 2012, the EU introduced the REACH and Biocidal Products Regulation to ensure the safe use of pesticides with limited exposure to human, food, and wildlife
Key Takeaways
Among application, cockroaches control dominated the global pest control products and services market in 2018 with a 21% of market share in terms of revenue, followed by rat & rodent control and bedbug control, respectively.
Market Trends
Growing demand for organic pesticides due to increasing restriction on the usage of chemical pesticides is expected to be a major trend in the market and this is expected to propel the market growth. For instance, in September 2017, Bionema is a UK based biotechnology company that launched its new UK nematode pest control product. NemaTrident is a Tri-Component biological pest control system that offers 20-30% more efficiency and up to 95% kill rates for vine weevil in horticultural crops.
A growing number of mergers and acquisitions among major players for expanding their presence in the market and launch a new product in pesticides is expected to propel the market growth. For instance, in January 2020, Agrichemicals firm Crystal Crop Protection on the acquisition of three major pesticide brands from the US firm Corteva Agrisciences for India. Therefore, the rising adoption of such strategies by major players will favor market growth.
Regulations
Latin America
In May 2015, Anvisa – National Regulatory Agency for Food in Brazil – developed exclusive Good Manufacturing Practices (GMP) for food packaging materials and submitted them for public consultation. No. 42/2015 [2] Annex highlighted a detailed requirement checklist on GMP connected to materials intended to be in contact with food. This included appropriate facility requirements, sanitization, pest control, and waste management.
Competitive Section
Key players operating in the global pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc.
Few Recent Developments
Arrow Exterminators Inc.
WinField Solutions, LLC
Market Taxonomy
By Product Type
By Application
By End-User
By Service Type
By Region
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