Chicago, June 17, 2022 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, The global pest control market is estimated to be valued at USD 21.6 billion in 2020. It is projected to reach USD 29.1 billion by 2026, recording a CAGR of 5.1% during the forecast period. The pest control market is driven by rapid urbanization across all regions. The increasing awareness of public health has compelled people to adopt pest control services regularly at residential and commercial levels.
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Sumitomo Chemical Co. Ltd. offers a wide range of pest control products for the commercial, industrial, livestock, and residential sector
Sumitomo Chemical Co. Ltd. offers insect pest control products under its health & crop sciences segment. It is engaged in the development, production, and sales of termiticides in the global market.
Sumitomo Chemical Co. Ltd. is a global player with a high potential to strengthen its position in the global pest control industry. In September 2019, the company acquired Nufarm to enhance its crop protection supply chain in South America with its four South American subsidiaries in Brazil, Argentina, Chile, and Colombia. It has a strong market presence across Asia, followed by Japan, which is a potential market. It invests a huge amount in R&D and has a research organization for production and safety fundamentals.
Browse in-depth TOC on "Pest Control Market"
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Chemical pest control is projected to grow a fast pace because of their low cost and the simplicity of application
Chemical control is based on substances that are toxic or poisonous to pests. Chemical pesticides are used to control pests and diseases caused due to pests. Chemical pesticides are generally fast-acting, which limits the damage to crops. When chemical pesticides are applied to protect plants from pests and diseases, it is important to ensure that the plant itself should not suffer from the toxic effects of the protection products. Chemical pest control products are available as liquid, granules, bait, and gel applications. They can be deployed based on the infestation, pest type, general environment, and intent, which may be to suppress or eradicate. These factors, in turn, are projected to drive the product demand across the globe over the upcoming years.
Increasing demand from residential pest control to drive the demand for powder applications
Powder is a popular form of insecticide used by pest control service providers. It is primarily used in the control of common pests such as ants, beetles, and cockroaches. The powder formulation of pesticides provides a better long-term solution in eliminating pest colonies. Powder formulations, even though effective, are also heavily regulated and mandates the service providers to follow strict guidelines to minimize the risk to humans and the surrounding environment. Powder formulations can be deployed for use in residential, commercial, and other settings, including transport facilities, to reduce or eliminate pest infestations.
North America to be the largest market for pest control during the forecast period
The North American region dominated the pest control market for insects in 2020 with a share of 50.6%, The strong emphasis on controlling diseases in North America, especially in the US, is projected to play an important role in increasing the demand for pest control for insects, along with other preventive measures. Additionally, developing countries in the Asia Pacific and South American regions have been witnessing strong demand for pest control products, especially those associated with public and environmental health. In these regions, these products are generally sought for the control of mosquitoes, flies, fleas, and beetles, and for use in public places, garbage yards, grain warehouses, and the livestock industry. In developing countries, the enhanced standards in the service industry (which includes hotels, restaurants, spas, and hospitals) have increased the demand for insect control products.
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Europe is projected to be the largest market in 2021 in terms of value.
Countries such as the UK, France, Germany, and the Netherlands being the topmost countries to adopt a vegan lifestyle rapidly, the region has strongly established the market. As reported by “The Vegan Society,” 11,655 vegan food and drink businesses were launched in Europe in 2019, increasing 93% from 2016. Thus, with competition becoming fierce among the existing players, the market for pea proteins is gaining significance in the regional market.
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Insect Pest Control Market by Insect Type (Termites, Mosquitoes, Cockroaches, Bedbugs, Ants, Flies), Control Method (Chemical, Physical, Biological), Application (Commercial & Industrial, Residential, Livestock Farms), and Region - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/insect-pest-control-market-26785207.html
Rodenticides Market by Type (Non-anticoagulants, Anticoagulants (FGAR, SGAR)), End use (Agricultural fields, Warehouses, Residential, Commercial), Mode of application (Pellet, Spray, and Powder), Rodent type, and Region - Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/rodenticides-market-189089498.html
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