WASHINGTON, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a report by Vantage Market Research, the Global pest control market was valued at USD 22.7 Billion in 2020 and is projected to attain a market value of USD 33.79 Billion by 2028 at a CAGR of 5.1% during the forecast period, 2022–2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Pest Control Market by Product (Insects, Rodents, Termites, Wildlife,) by Application (Residential, Commercial, Livestock, Industrial, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028”.
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The pest control market is booming. The number of businesses offering pest control services has grown exponentially in recent years, and the demand for these services shows no signs of slowing down. As a result, pest control is now considered an essential service for many homeowners and businesses, as it can effectively eliminate all sorts of pests, from rodents and insects to wildlife.
The most common pests include ants, bedbugs, cockroaches, flies, mice, rats, and termites. These pests can contaminate food, damage property, transmit disease, and cause painful bites or stings. Some pest infestations are not immediately apparent and can go undetected for months or even years.
Global pest control market is flooded with several different pest control methods, and the most effective one will depend on the type of pest and the severity of the infestation. For example, rats and mice can be effectively controlled with traps or poison, while bedbugs require a more targeted approach, such as heat treatment or vacuuming.
There are many reasons why the demand for pest control services has increased so rapidly. One of the most significant factors is the changing climate. As temperatures continue to rise, pests can survive and thrive in previously too cold areas. This means that they can now invade homes and businesses in large numbers, causing a major problem for property owners.
Another reason for the growing demand for pest control services is the increasing awareness of the health risks posed by pests. We now know that pests can carry a variety of diseases that can be harmful to humans, so it is essential to keep them out of our homes and workplaces. Pest control companies have responded to this by developing new products and methods that are much more effective at eliminating pests without posing any risk to human health.
Top Players in Global Pest Control Market
- Bayer Cropscience
- Syngenta AG
- BASF
- Bell Laboratories Inc
- Corteva Agriscience
- Rentokil Initial plc
- Anticimex
- Ecolab Inc.
- Sunitomo Chemical Co.Ltd.
- Rollins, Inc.
- The Terminix International Company
- FMC Corporation
- ADAMA
- RATSENSE
- PelGar International
- Brandenburg
- Adam's Pest Control
- Woodstream Corporation
- JT Eaton & Co.Inc.
- V3 Smart Technologies
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 1.12 Billion |
| Revenue Forecast by 2028 | USD 2.05 Billion |
| CAGR | 7.80% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | • Bayer CropScience • DowDuPont • Bell Laboratories • Ecolab • Truly Nolen • Adama • Terminix • Sumitomo Chemicals Co. Ltd. • Syngenta AG • FMC Corporation • Atalian Servest • BASF • PelGar International |
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Pest Control Market is Highly Fragmented; Top 50 Companies Hold only 15% Market Share
In recent years, the pest control industry has undergone dramatic changes. The number of providers has increased dramatically, new technologies have been introduced, and the use of pesticides has increased. As a result, the market is much more complex than it was just a few years ago.
Our analysis considers these changes and provides an in-depth look at the current state of the market. We have examined the major players in the industry, their strategies, and how they are positioned to compete in the future.
The global pest control market was valued at USD 22.7 Billion in 2020 and is growing at a CAGR of 5.1%. However, the market is highly fragmented, with the top 50 companies accounting for only 15% of the market. The remaining 85% of the market is made up of small, local companies. Therefore, there is an opportunity for these companies to increase their market share through acquisitions and consolidation.
Vantage Market Research’s analysis of the pest control market indicates several trends that will shape the industry's future. First, the market is consolidating, with larger companies acquiring smaller companies. Second, new technology is changing how pest control companies operate, enabling them to provide services remotely and use data to target specific pests. Third, environmental concerns are driving regulation changes, which will impact how pest control companies do business.
However, the industry has low barriers to entry, which has allowed new entrants to gain market share quickly. Vantage believes consolidating the industry will help reduce competition and enable leading companies to achieve economies of scale.
Our global pest control market analysis shows that it is a highly attractive market for companies looking to enter or expand their businesses. The market is growing at a healthy rate, and companies have numerous opportunities to gain market share. The key to success in the pest control industry is to focus strongly on customer service and offer differentiated products and services.
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Top Trends: Online Sales, Increasing Price Pressure, Eroding Profit Margin, Declining Trend of Do-It-Yourself
According to a recent study by Vantage Market Research, the pest control market is experiencing a number of interesting trends. The first is that online sales of pest control products are proliferating, accounting for nearly 30% of all sales in the market. This is partly due to the increasing awareness of the importance of pest control and the convenience and affordability of online shopping.
Another trend we have identified is that the use of natural and organic products is rising. This is likely due to consumer demand for more environmentally-friendly products. Pest control companies are responding by offering more natural and organic options.
We have noted that the professional pest control market is growing faster than the do-it-yourself market. This is likely due to an increase in public awareness of the dangers of pests and the importance of proper pest control.
However, the report also notes a growing trend for customers to be more price-conscious, leading to a decline in revenue for many pests control companies. As a result, companies are increasingly focused on cost-cutting measures, such as reducing staff levels and investing in technology.
Overall, the report paints a mixed picture of the pest control market. On the one hand, there is strong growth in demand for services; on the other hand, price pressures is eroding profits.
The Report Gives Information About the Following Things:
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- Product Development & Innovation: Gives smart ideas about future technologies, research, and new product ideas.
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Some of The Key Questions from Our Customers Are:
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Industrial and Commercial Pest Control Market Generates over 60% of Market Revenue
Pest control for industrial manufacturing is on the rise. This is due to the increasing number of industries and the consequent increase in waste products that provide food and shelter for pests. Pests can damage equipment, contaminate products, destroy packaging, damage machinery, and cause economic losses for businesses. In order to protect their investments, companies are turning to professional pest control services. In addition, they can spread disease and cause health hazards for workers.
In particular, the food and beverage industry is expected to drive demand for pest control services due to the strict regulations regarding food safety and quality. In addition, the healthcare industry is also anticipated to fuel market growth, owing to the increasing prevalence of vector-borne diseases.
Vantage Market Research conducted a survey of business owners and found that pest control was a top concern. The most common pests were rodents, cockroaches, and ants. Business owners reported that they had seen an increase in pest problems over the past year. They also said that pest control was a significant expense for their business.
There are a variety of methods that can be used for pest control in industrial facilities. These include physical methods such as traps and barriers, chemical methods such as insecticides and baits, and biological methods such as microbial control. Each method has its advantages and disadvantages, so it is crucial to choose the most appropriate method for each situation.
Reasons for Buying this Pest Control Report
- Pest Control advertise report helps with understanding the Basic product - segments alongside likewise their potential future and Capital Spending.
- This global Pest Control market report offers pin point analysis of changing competitive dynamics and keeps you in front of competitors.
- This report provides PESTLE analysis, and opportunity assessment researchers and analyst’s offers the accurate and verified information with the help of SWOT.
- Report gives in-depth research on distribution channels and distribution chain with manufacturers, wholesalers, dealers, suppliers, retailers, and consumers.
- This report provides a forward-looking perspective on the various driving factors for Pest Control market gains.
- This report helps in making wise business choices by using the comprehensive insights and also by making a comprehensive assessment of the Pest Control market segments.
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