Portland, OR, April 10, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pest control market generated $18.21 billion in 2017, and is estimated to garner $27.60 billion by 2025, growing at a CAGR of 5.2% from 2018 to 2025. The report offers a detailed analysis of top investment pockets, market size & projections, value chain, major segments, and competitive scenario.
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Growth Drivers and Industry Trends
Changes in climatic conditions, ease in availability of pest control products, and rise in urbanization facilitate the market growth. However, health hazards regarding chemicals used for pest control hinder the growth in the market. On the other hand, new product development and product launches create new pathways in the industry.
Segmentation Analysis of the Industry
Based on type, the chemical segment accounted for nearly one-third of the total market share in 2017 and will maintain its dominance throughout the forecast period. This is due to rise in implementation of chemical pest controlling for its cost-effective nature and rapid application. However, the mechanical segment would register the highest growth rate during the forecast period, with a CAGR of 5.9%, owing to cost-effectiveness, rapid results, and ease in application.
Based on pest type, the insects segment held the major share in 2017, accounting for nearly two-fifths of the total share, and is expected to dominate in terms of revenue throughout the forecast period. This is due to surge in usage of insecticides in households, hospitals, restaurants, farms, and forest plantations. However, the rodents segment would register the largest CAGR of 6.6% from 2018 to 2025, owing to surge in demand for rodents control with increase in food storage capacity.
North America accounted for the largest share based on revenue in 2017, contributing nearly half of the total market share, and will maintain its leadership status throughout the forecast period. This is due to rise in construction activities, which in turn, increases the demand for pest control in household activities. However, Asia-Pacific is expected to register the highest CAGR of 6.8% from 2018 to 2025, owing to less manufacturing costs and increase in adoption of pest control methods in residential, agricultural, and industrial applications.
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Industry Key Players
Leading market players analyzed in the research include BASF SE, Rentokil Initial Plc., Bayer AG, Rollins, Inc., Ecolab, Anticimex, FMC Corporation, The ServiceMaster Company, LLC, Dodson Pest Control, Inc., Syngenta, and Lindsey Pest Services.
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