Portland, OR, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Pest Control Market by Type (Chemical, Mechanical, Biological, Others), by Pest Type (Insects, Termites, Rodents, Others), by Application (Commercial, Residential, Agriculture, Industrial, Others) Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, the pest control market was valued at $24.6 billion in 2022 and is estimated to reach $42.5 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.
Prime determinants of growth
Advances in pest control methods and technologies, such as eco-friendly and targeted treatments, have made pest management more efficient and less harmful to the environment, driving market growth. However, the pest control industry is heavily regulated due to the potential risks associated with pesticide use. Compliance with regulations can be complex and expensive for pest control companies, leading to administrative burdens and potential legal issues. On the contrary, leveraging technology for digital monitoring, data analysis, and remote pest control management can provide an edge. Developing smart devices and software applications for pest detection and management can improve efficiency and accuracy.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $24.6 billion |
| Market Size in 2032 | $42.5 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 370 |
| Segments covered | Type, Pest Type, Application, And Region. |
| Drivers | Increase in urbanization coupled with exponential growth of population. Changes in climatic conditions. Easy availability of pest control products and services. |
| Opportunities | Consistent product development and product launches. |
| Restraints | Health hazards related to pest control chemicals. |
The chemical segment maintains its leadership status throughout the forecast period.
Based on type, chemical held the highest market share in terms of revenue in 2022, accounting for nearly one-fourth of the global market and is projected to maintain its dominant share in terms of revenue in 2032. Advances in chemistry and technology have led to the development of safer and more targeted chemical pest control solutions. These innovations attract both consumers and businesses looking for effective and environmentally friendly options. However, mechanical is projected to grow at the highest CAGR of 6.0% from 2023 to 2032. Stringent regulations on chemical pesticide use in certain regions or for specific applications can drive the adoption of mechanical pest control methods. These methods are often perceived as safer and less harmful to the environment.
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The insects segment to maintain its leadership status throughout the forecast period.
Based on pest type, insects held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global market and is projected to maintain its dominant share in terms of revenue in 2032. Insects can be inadvertently transported across borders through international trade and travel. Invasive species can establish themselves in new environments, disrupting local ecosystems and becoming pests that require control measures has significantly fueled the demand for pest control for insecticides. However, rodents are projected to grow at the highest CAGR of 6.15% from 2023 to 2032. Innovations in rodent control technology, such as smart traps and monitoring systems, offer more effective and efficient ways to detect and manage infestations. Integrated Pest Management (IPM) strategies promote a combination of preventive measures, monitoring, and targeted treatments to manage rodent populations in an environmentally sustainable manner.
The commercial pest control segment to maintain its leadership status throughout the forecast period.
Based on application, commercial pest control held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global market and is projected to maintain its dominant share in terms of revenue in 2032. Strict regulations regarding hygiene and sanitation in commercial settings, such as restaurants, food processing plants, and healthcare facilities, drive the demand for pest control services to ensure compliance with health and safety standards. Certain industries, like pharmaceuticals and healthcare, have specific regulations that mandate pest control to maintain product quality and safety. However, agriculture is projected to grow at the highest CAGR of 6.21% from 2023 to 2032. Pests, including insects, weeds, and diseases, can cause significant damage to crops leading to reduced yields and economic losses for farmers. Effective pest control measures help optimize crop yields by preventing or minimizing damage, thereby contributing to food security and increased agricultural productivity.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the global market, and is projected to maintain its dominant share in terms of revenue in 2032. North America is a popular destination for international travel and tourism. This can lead to the inadvertent introduction of pests from different parts of the world, increasing the need for effective pest control measures to protect public health and local ecosystems. However, Asia-Pacific is projected to grow at the highest CAGR of 6.01% from 2023 to 2032. Government regulations regarding the use of pest control chemicals and methods can significantly impact the market. Stringent regulations may lead to the adoption of more environmentally friendly and sustainable pest control practices. Further, concerns about invasive species and the protection of local ecosystems can drive the demand for effective pest control solutions.
Leading Market Players: -
- ANTICIMEX
- BASF SE
- BAYER AG
- CLEANKILL ENVIRONMENTAL SERVICES LTD.
- DODSON PEST CONTROL, INC.
- ECOLAB
- FMC CORPORATION
- JG PEST CONTROL
- ROLLINS, INC.
- SYNGENTA AG
The report provides a detailed analysis of these key players in the global pest control market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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