The global pest control market size is anticipated to witness substantial growth on account of the increasing rodent population and reach USD 31.94 billion by 2027. The change in climatic conditions and the rapidly growing population of rodents worldwide have increased the demand for these products worldwide. As per a recently published report by Fortune Business Insights titled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type (Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, and Biological), Application (Residential, Commercial, and Industrial), and Regional Forecast, 2020 – 2027,” the market value was USD 19.73 billion in 2019 and is anticipated to rise at a CAGR of 6.31% during the forecast period, 2020 to 2027.
List of key players profiled:
- ServiceMaster Global Holdings Inc. – United States
- Bayer AG – Germany
- Terminix International Company L.P – United States
- Anticimex – Sweden
- Rentokil Initial Plc. – United Kingdom
- Ecolab Inc. – United States
- Truly Nolen – United States
- Rollins Inc. – United States
- Massey Services Inc. – United States
- Bell Laboratories – United States
- Other vendors
Gain More Insights into the Pest Control Market Research Report:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this, too, shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The Report Answers the following Questions?
- How fierce is the market competition?
- How will government support to Integrated Pest Management boost market?
- Which strategies are adopted by market players to gain a competitive edge in the market?
- What is the impact of the COVID19 pandemic on the pest management market?
Drivers & Restraints-
Advent of Pest Control Software will Bolster Growth
The rise in the number of fatal vector-borne diseases is a major factor in promoting market growth. The World Health Organization states an annual of 7,00,000 deaths to vector-borne diseases, which accounts for 17% of all infectious diseases in the world. Diseases caused by pests are promoting the need for various pest control methods such as biological, mechanical, and chemical methods, thereby augmenting growth. Additionally, the increasing urbanization and industrialization that propelled a rise in construction activities have also increased the hygiene standards among people. This further added impetus to the rise in the need for the product.
On the negative side, the use of pesticides and insecticides is strictly monitored by various agencies such as the Environment Protection Agency (EPA) of the United States and the government. They have imposed stringent regulations on the use of fatal chemicals and highly toxic products and services that may pose a threat to the environment. This may hamper the overall market in the coming years.
Nevertheless, the increasing adoption of the pest control software is currently trending, thereby creating lucrative growth opportunities for the future market.
Request A Sample Copy – Pest Control Market Report
Insects Segment to Dominate Market with its Proliferating Population
Based on the pest type, the insects segment dominated the market in 2019 with a 49.30% market share. This is attributed to the rapidly multiplying insect population in both agricultural and non-agricultural areas.
North America Emerged Dominant Owing to Presence of Major Players
The increased awareness about the ill-effects of pest attacks on health and hygiene is a major factor boosting the North American market, thereby making it the largest contributor. In 2019, this region gathered a revenue of USD 9.59 billion on account of the increasing number of commercial and residential infrastructural development activities. This coupled with the presence of a majority of pest management market manufacturers will help this region continue dominating in the near future.
Asia Pacific market on the other side is anticipated to rise at a rapid pace on account of the rise in urbanization activities across the emerging nations such as Malaysia, China, India, and others. This, coupled with the rise in awareness about toxicity caused by pests and increasing expenditure on pest control products by consumers will help this region rise at a significant CAGR in the forthcoming years.
Players Emphasizing on Innovative Product Launches to Gain Strategic Position in Market
There are more than 40,000 companies dealing with these products and services worldwide, thereby leading to a highly fragmented competitive landscape. Some of the highest shares of the market are contributed by players such as ServiceMaster, Rollins Inc., and Rentokil. They are engaging in collaborative efforts and investing in new products launched to gain a competitive edge in the market.
Quick Buy – Pest Control Market Research Report:
Some of the Significant Industry Developments of the Pest Control Market include:
September 2019 – The fourth-largest pest control company, Nomor Holding AB was acquired by ServiceMaster for increasing product portfolio in the European market.
January 2019 – Rentokil acquired Multicontrole Pest Control, a giant company operating in Brazil. The key objective of this acquisition is to expand the geographical presence of the market in the South American region.
Have a Look at Related Reports:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.