Global Pest Control Market Size to Reach USD 33.83 Billion in 2030 | Emergen Research

Vancouver, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The global market for pest control achieved a valuation of USD 22.91 Billion in the year 2021. Projections from the latest analysis conducted by Emergen Research indicate a steady trajectory with a compound annual growth rate (CAGR) of 4.3% in revenue during the forecast period. This growth is primarily attributed to the escalating demand for pest control methodologies that are both low in toxicity and environmentally sustainable.

The significance of pest management becomes particularly evident in the agricultural sector, where pests act as a significant hindrance to achieving optimal crop yields. This challenge is felt by farmers worldwide as they grapple with the limitations posed by pests. For instance, in countries like India, annual losses of up to 25% of crops are attributed to diseases and pests.

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Pest control measures extend beyond the agricultural sphere, encompassing the safeguarding of crops during storage and transportation. By addressing pest-related threats, pest controllers effectively enhance land productivity and curtail potential yield losses. Furthermore, the application of insecticides plays a pivotal role in protecting various structures, including wooden elements such as furniture, beds, staircases, and even buildings, from the detrimental impact of termites and wood boring insects.

The improper and excessive utilization of pesticides in fertile lands has resulted in a slew of challenges. These include the emergence of pest resistance, degradation of the environment, compromised quality of food, and soil pollution. Furthermore, the overzealous deployment of chemical-based pest control agents contributes to the accumulation of residues within water bodies and soil. These factors collectively pose a significant impediment to the anticipated growth of the market.

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Scope of Research

Major Companies and Competitive Landscape

The global pest control market is fragmented with many small, medium, and large companies accounting for majority market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pest control. Some major companies included in the global pest control market report are:

• Bayer AG
• BASF SE
• Corteva
• ADAMA
• Syngenta
• Bell Laboratories Inc.
• FMC Corporation
• Ecolab
• Rentokil Initial plc.
• Rollins, Inc.
• Truly Nolen
• Anticimex

Strategic Development

• On 26 January 2022, Syngenta, which is a crop protection company acquired two next-generation bioinsecticides named NemaTrident and UniSpore from Bionema, which is a UK-based biocontrol technology developer company. These are Syngenta’s first fully-owned biocontrols and will enable customers with additional and complementary solutions to effectively and sustainably manage insect pests and resistance.

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Some Key Highlights From the Report

• The commercial segment is expected to register a rapid revenue CAGR due to rapid urbanization and rising new infrastructural projects. High economic and health risks associated with pest is increasing demand for pest control in commercial and public places. In addition, rising government pest management programs are also driving revenue growth in this segment.
• The termites segment is expected to register a steady revenue CAGR over the forecast period. These cellulose-eating insects cause damage to wood and furniture. The U.S. is home to about over 50 species of termites and according to the United States Department of Agriculture (USDA), the U.S. residents spend over USD 1 billion on termite control products. In addition, homeowners spent on an average about USD 3,000 on repairs caused by termites, which has increased demand for termite controllers and is driving revenue growth in this segment.
• The North America market accounted for largest revenue share in 2021 due to rising demand for herbicides for killing weeds in agricultural lands. Furthermore, rising demand for organic pesticides owing to less chemical content and being environment-friendly is also driving market growth in this region.

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Emergen Research has segmented the global pest control market based on type, control methods, mode of application, application, and region:

• Type Outlook (Revenue, USD Billion; 2019–2030)
  • Termites
  • Insects
    1. Mosquitoes
    2. Flies
    3. Cockroaches
    4. Ants
    5. Bed bugs
  • Rodents
  • Others
• Control Methods Outlook (Revenue, USD Billion; 2019–2030)
  • Chemical
    1. Insecticides
    2. Herbicides
    3. Rodenticides
    4. Repellents
    5. Others
  • Biological
    1. Plant-extracts
    2. Microbial
    3. Predatory insects
  • Mechanical
    1. Light traps
    2. Adhesive traps
    3. Malaise traps
    4. Mesh screens
    5. UV radiation devices
    6. Ultrasonic vibrations
    7. Others
  • Others
• Mode of Application Outlook (Revenue, USD Billion; 2019–2030)
  • Powder
  • Pellets
  • Sprays
  • Traps
  • Others
• Application Outlook (Revenue, USD Billion; 2019–2030)
  • Industrial
  • Commercial
  • Domestic
  • Storage & transport facility
  • Agricultural
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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