Covina, CA, Dec. 24, 2020 (GLOBE NEWSWIRE) -- Factors such as increasing rodent population and increasing damage due to rodent attack are responsible for the growth of the rodenticides market. New Product Launches Agreements, Partnerships, Approvals & Collaborations Acquisitions Expansions & Investments are some of the key strategies.
The global rodenticides market accounted for US$ 4.2 billion in 2019 and is anticipated to register a CAGR of 8.25%.
The report "Global Rodenticides Market, By Type (Non-anticoagulants and Anticoagulants (FGAR, SGAR)), By End use (Agricultural fields, Warehouses, Residential, and Commercial), By Mode of Application (Pellet, Spray, and Powder), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029".
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Key Highlights:
- In November 2019, Rentokil Initial Plc acquired Florida Pest Control (US), which is a pest control service provider for commercial and residential customers. This acquisition would help the company to expand its product offerings in the North American region.
- In April 2018, BASF SE launched Selontra rodent bait, a soft bait formulation based on the active ingredient, cholecalciferol, for rodent control in the US market. The product has high efficacy in controlling rodent infestation in just seven days.
- In November 2017, Rentokil Initial, announced the acquisition of Vector Disease Acquisition, LLC (VDA). This transaction would aid Rentokil in strengthening its position in the market and fulfil the growing demand for mosquito control worldwide.
- In August 2017, NEOGEN launched an effective rodenticide bait named DeciMax® Soft. It blends the flexibility and superior palatability so that it can be used in extreme weather conditions. It is also equipped with a second generation anticoagulant named bromadiolone that would help in controlling mice and rats effectively.
Analyst View:
Impact of climatic changes on rodent proliferation
Rodent population responds more rapidly to favorable weather conditions, such as heavy rainfall, which could directly or indirectly proliferate rodent-borne pathogens, such as spirosis, a zoonotic bacterial disease, with an unknown, but probably high human and veterinary prevalence. Rodents breed prominently more in warmer climates and with the changing climatic or the global warming leads to the change in the population dynamics of rodents and their ecosystems, as. The proliferation of rodent population is related to climatic changes, which is a major international public health concern. Hantavirus infection is increasingly sensitive to climatic conditions.
Increase in demand for rodent pest control services from the hospitality and tourism sectors
The entertainment sector, warehouses, construction companies, foodservice segment, pharmaceutical companies, and the hospitality sector play an important role in encouraging the demand for pest control products & services, particularly for rodents. The economic losses due to the damages caused by pests, such as rodents, affect the tourism industry. The growth of the hospitality and entertainment sectors in urban areas due to the high purchasing power among consumers has driven the demand for rodent control products.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Rodenticides Market”, By Type (Non-anticoagulants and Anticoagulants (FGAR, SGAR)), By End use (Agricultural fields, Warehouses, Residential, and Commercial), By Mode of Application (Pellet, Spray, and Powder), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global rodenticides market accounted for US$ 4.2 billion in 2019 and is anticipated to register a CAGR of 8.25%. The market report has been segmented on the basis of the type, end-user, mode of application and region.
- Depending upon type, anticoagulants are projected to be the fastest-growing segment in the rodenticides market during the forecast period. Anticoagulants are further classified into first generation anticoagulant rodenticides (FGAR) and second-generation anticoagulant rodenticides (SGAR). Among the anticoagulant rodenticides, second-generation active ingredients are preferred due to their high effectivity, and majorly these products are approved by the regulation authority.
- Based on the end-use sector, residential segment is projected to dominate the rodenticides market because of the rapid urbanization, increase in disposable income, and the rise in awareness about epidemics from rodent attacks. Further, residential holders have been increasingly adopting chemical agents besides mechanical control methods. Thus, the growth potential in residential holdings is projected to remain higher than the other end uses.
- By application, Blocks accounted for a significant share in the global market as these are appropriate for outdoor use as they are waterproof and resistant to the environment. Use of this form by pest control companies is expected to fuel growth in the coming years.
- By region, North America dominates the global rodenticides market in terms of revenue as compared to other regions. Due to high rodent population densities there is an increase in the cases of rodent-borne disease (for instance, Hantavirus) that transmits to humans. According to the CDC, the density of rodents that can cause Hantavirus is high in the US states, including Texas, Oklahoma, Louisiana, and Arkansas. Due to these factors, there are plans to eradicate the growing rodent population in North American countries, and hence contributing to the high consumption of rodenticides.
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Competitive Landscape:
The prominent player operating in the global rodenticides market includes Bayer AG, Syngenta AG, BASF SE, Rentokil Initial Plc, JT Eaton, UPL Limited, Anticimex, Bell Laboratories Inc, Ecolab Inc, Rollins Inc, Abell Pest Control.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis