Dublin, June 16, 2022 (GLOBE NEWSWIRE) -- The "Rodenticides Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The Rodenticides market was valued at US$1,004.70 million in 2020 and is expected to grow at a CAGR of 4.45% over the forecast period to reach a total market size of US$1,363.04 million by 2027.
The term "rodenticide" refers to pesticides used to control rodents such as mice, rats, squirrels, chipmunks, woodchucks, and others that cause crop damage, food contamination, disease transmission, and economic damage. Thousands of dollars' worth of food is wasted every year due to rodent infestations as well as violations of housing codes across the globe.
Aside from that, they leave dirt in food and spread bacteria. India reports food grain losses ranging from 2.4 million tonnes per year to 26 million tonnes per year caused by rodents.
A rapidly growing rodent population is a prime reason behind the increase in transmittable diseases like plague, hantavirus, and Lassa fever, which, in turn, affect the ecosystem, wildlife, and humans. Commercial, residential, and industrial facilities have started using rodent control products to get rid of these pests.
Various pest control agencies use rodenticides widely in order to reduce rodent populations in the cities. Due to this, rodent-resistant products are in demand across the country. A growing population worldwide has resulted in an increased demand for grains, and the need for more food storage capacity has resulted in a growing concern over food security, driving rodenticide markets worldwide. A United Nations report says that number will rise to 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100. Demand, however, is likely to be restricted by concerns about the use of chemicals and their harmful effects on humans and other living creatures. Because of this, product applications are highly regulated under stringent laws.
Growth Factors:
Economic Losses and Growing Concern over Diseases
Rodents are increasing in numbers continuously. In the United States, 30 percent of all food, worth $483 billion, is thrown away each year. A remarkable number of rats are adapted to eating human food and reproduce rapidly. Norway rats (Rattus norvegicus) can have up to 12 pups in a litter if sufficient food is available. (Source: UNEP and thecounter.org). Consequently, food waste also contributes to the population increase of rodents.
It is expected that rodent populations will increase in temperate areas due to climate change. This could pose a higher risk of human disease transmission in urban areas, particularly as a result of human contact with rodents. The damage rats cause to crops is estimated to be 3-5% in developing countries and more than 1% in developed countries. (knowledgebank.irri.org). This leads to diseases such as the plague, Lassa fever, and Hantavirus infections that can affect humans, animals, and the environment.
As a result, rodenticides are heavily used in rodent control products in industrial, commercial, and residential settings. Rodenticides are being launched by companies to combat this problem. The 19th China Animal Husbandry Expo will be held in Nanchang, Jiangxi, in May 2021.
BASF launched its new rodent bait for livestock farmers, Lei Miao rat bait. By using Lei Miao rodent bait, livestock producers are able to combat even the worst rats and mice infestations while saving valuable time and money. Alphachloralose is a new rodenticide used to control mice in homes and buildings. The EPA invited public comments in October 2019 regarding its proposal to register it. The active ingredient in the new rodenticide alphachloralose is significantly less toxic to humans than most rodenticide alternatives.
Restraints
The Government ban and stringent regulations
The market has suffered from a number of stringent regulations and a subsequent recommendation to ban rodenticides. The consumption of poisoned carcasses by birds of prey and other scavenger species is a leading cause of the deaths of these species. Additionally, rodenticide exposure exposes humans to intoxication risks. In 2013, the United States Environmental Protection Agency (EPA) restricted the sale of long-acting anticoagulant (LAA) rodenticides such as Brodifacoum and Bromadiolone.
In addition, the Biocidal Products Regulation (BPR) enforces rules that apply to most rodenticides across Europe, which spawned the Rodenticide Stewardship Regime that is to be observed by the rodenticide companies and pest control companies. According to the Office for National Statistics (UK) and HM Revenue and Customs, UK rodenticide exports from EU and non-EU markets declined significantly from US$43.66 million in 2013 to US$4.7 million in 2018. This is expected to impact the demand-supply ratio and pricing of rodenticides used, thereby restricting the market's growth.
COVID-19's Influence on the Rodenticides Market:
As a result of government-imposed lockdowns across many regions, the supply chain has been disrupted. Despite relatively stable demand, there is a limited supply of the product available to distributors and retailers, which leads to the product being unable to reach consumers. Labor shortages and reduced raw material supplies are major issues due to the restrictions on people and vehicles. In the aftermath of the COVID-19 pandemic, many restaurants and other businesses have closed, which has led to rats walking the streets during the daytime, despite their normal nocturnal habits. During the pandemic, rodenticides are likely to see increased demand due to these factors.
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. RODENTICIDES MARKET, BY TYPE
5.1. Introduction
5.2. Anticoagulant
5.3. Non-Anticoagulant
6. RODENTICIDES MARKET, BY PRODUCT
6.1. Introduction
6.2. Pellets
6.3. Blocks
6.4. Powder and Spray
7. RODENTICIDES MARKET, BY END-USERS
7.1. Introduction
7.2. Pest Control Companies
7.3. Warehouses
7.4. Household
7.5. Agriculture
8. RODENTICIDES MARKET, BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. BASF SE
10.2. Bayer AG
10.3. Neogen Corporation
10.4. Liphatech, Inc.
10.5. Impex Europe sl
10.6. Bell Labs
10.7. Ecoclear Products
10.8. Syngenta
10.9. SenesTech, Inc
10.10. JT Eaton
For more information about this report visit https://www.researchandmarkets.com/r/9t5gt9
Attachment
