Coherent Market Insights

Pest Control Products and Services Market To Surpass US$ 36.1 Bn By 2030

Pest Control Products and Services Market To Surpass US$ 36.1 Bn By 2030 - Coherent Market Insights

Publish On: Apr 17, 2023

Pest Control helps in the management of species called pests by killing or repelling their attacks on human activities. Pest include insects, rodents, cockroaches, bedbugs, termites, and ants. These pests not only destroy the crops but also affects the day-to-day life activity of human. Pest control has a wide range of application in 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 forms such as mechanical, chemical, biological, and others. Agricultural, commercial, industrial, and residential are some of the major end user of global pest control products and services market.

Global pest control products and services market was valued at US$ 22.4 billion in 2022 and is estimated to exhibit a CAGR of 6.15% during the forecast period (2023 to 2030)

Global Pest Control Products and Services Market- Drivers

Increasing urban population around the globe

Increasing urban population around the globe is expected to drive the market growth. Increasing urban population leads to 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 drive 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 2014that is estimated to increase to 66% by 2050.

Global Pest Control Products and Services Market- Opportunities

Growing pests, particularly bedbugs, in the hospitality sector affects hygiene, and damage the reputation of the firm. Increasing  expenditure on pest control products and services is expected to drive the market growth of pest control products and services over the forecast period. Moreover, rising concern regarding growth of termite infestation especially in the U.S. region, is further expected to drive the market growth.

Global Pest Control Products and Services Market- Restraints

Rising implementation of strict government regulations

Rising implementation of strict government regulations to reduce the level of chemical toxicity, and limit the usage of highly toxic pesticide which has a negative impact on the environment is expected to restrict the market growth. Moreover, new regulations were issued by the European Union (EU) in 2016 pertaining to the usage of rodenticides that restricted  the external use of rodenticides for rats. Moreover, in 2012, the EU introduced the REACH and Biocidal Products Regulation to ensure the safe usage of pesticides with limited exposure to human, food, and wildlife.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/pest-control-services-market-902

Key Takeaways

Among application, cockroaches control segment 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.

Global Pest Control Products and Services Market- Trends

Rising demand for organic pesticides

Rising demand for organic pesticides due to increasing restriction on the usage of chemical pesticides is a major trend in the market, and this is expected to drive the market growth. For instance, in September 2017, Bionema, a U.K. Based biotechnology company, launched its new U.K. 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.

Increasing mergers and acquisitions

Increasing mergers and acquisitions among major players for expanding their presence in the market, and launches of a new product is expected to drive the market growth. For instance, in January 2020, Agrichemicals firm Crystal Crop Protection, acquired three major pesticide brands from the U.S. firm Corteva Agrisciences. Therefore, rising adoption of such strategies by major players is expected to boost the market growth.

In May 2015, Anvisa,National Regulatory Agency for Food in Brazil, introduced exclusive Good Manufacturing Practices (GMP) for food packaging materials and submitted it for public consultation.

Global Pest Control Products and Services Market- 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.

Global Pest Control Products and Services Market- Recent Developments

  • In March 2016, Arrow Exterminators Inc., acquired Frye Exterminating Co Inc., a U.S.- based company, to strengthen its presence in North Carolina, and to enhance its commercial and residential customer engagement
  • In January 2016, Arrow Exterminators Inc., acquired BugMaster Termite & Pest Control, a U.S.-based company. This acquisition helped company to expand its footprints in Houston, U.S.

In April 2016, WinField Solutions, LLC, signed an agreement with Southern States Corporation, to enhance its distribution network, and to ensure wider reach to the consumer in the market in the U.S. Southern States Cooperative is an American farmer-owned agricultural supply cooperative headquartered in the Richmond, Virginia area. Southern States Cooperative supplies small, medium, and large commercial farmers with livestock and animal feed, pasture seed, vegetable seed, farm fertilizer, farm supplies, bulk fuel and crop services, including information and products to grow better crops.

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