Pest Control Market to Grow at 7.5% CAGR by 2030
Constant growth in awareness as well as hygiene practices in various industries followed by rapid urbanization are expected to drive the growth of pest control industry during the forecast period of 2021-2030.
The Pest Control Market is expected to grow at the CAGR of 7.5% from 2021-2030, according to a new research report by Next Move Strategy Consulting
Pest control refers to the killing of pest as well as protection from various pests which can cause loss or also affect the human health. This includes varieties of pest such as mosquito, cockroach, termites, rodents & many more. There are various methods which are used for the pest control such as biological, chemical, & others. These pests can also led to serious loss such as damage of agricultural crops, can also cause serious contamination which in turn led to health issues & many more.
According to the report, constant growth in the hygiene concerns among people with rising awareness is the major factors driving the market growth. There has been constant growth in urbanization along with industrialization which has raised the demand form pest control. In addition, technological advancement together with developed & advanced formulation with effective pest control solutions are also likely to promote the market growth. On the other hand, stringent regulatory policies for safety & pest control for healthy environment as well as wide application in different industries to prevent heavy loss such as agriculture and other are also anticipated the market growth. Moreover, growing use of biological method for pest control due to environment friendly nature as well as reduced or no side effects may tend to bring change in the market trends.
However, high cost of advanced formulation followed by various side effects along with toxic nature are expected to create restrain for market growth. Moreover, growing research & development activities led to the development of new formulations followed by new product launches in the market is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of pest types, the pest control market share is segmented into insects, termites, rodents, and wildlife. Insects segment is likely to show lucrative growth owing to growth in agricultural industry along with high production demand. Insect segment is also likely to maintain its dominance over the forecast period.
On the basis of control method, the pest control market is categorised into chemical, biological and mechanical. Chemical segment is expected to dominate the segment with major market share and maintain its dominance over the forecast period.
On the basis of mode of application, the market is categorized into sprays, baits and traps. Spray segment accounts for the major market share over & maintain its growth over the forecast period.
On the basis of application, the market is fragmented into residential, industrial and commercial. Commercial segment accounts for the major market share in 2017 owing to the rising health concerns of employees along with growth in commercial buildings.
North America is likely to account for the highest market size & share of the pest control market in the forecast period 2021–2030 owing to the presence of advanced technology accompanied by stringent regulatory norms with respect to the safety and hygienic practices in the region. Europe accounts for the second leading position in the pest control market size. Asia Pacific is expected to be the fastest developing region in the pest control market which is majorly driven by presence of huge agricultural industry along with growth urbanization on large scale. In addition, growing awareness with the presence of various products in the region for pest control is likely to enhance the market growth.
According to the report, some the key players in the pest control market are Rentokil Initial Plc., BASF SE, Rollins, Inc., Bayer AG, Anticimex, Ecolab, The ServiceMaster Company, LLC, FMC Corporation, Syngenta, Dodson Pest Control, Inc., and Lindsey Pest Services.
Browse key industry insights from the report at https://www.nextmsc.com/report/pest-control-market in detail along with the table of contents:
Key Insights from the Pest Control Market Report:
- Asia Pacific is the fastest growing Pest Control market owing to the presence of large agricultural industry along with the rapid growth in urbanization followed by industrialization & growing awareness.
- The commercial application dominates the segment and residential segment is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Rentokil Initial Plc., BASF SE, Rollins, Inc., Bayer AG, Anticimex, Ecolab, The ServiceMaster Company, LLC, FMC Corporation, Syngenta, Dodson Pest Control, Inc., and Lindsey Pest Services.
The report Pest Control market – segmented by pest type, control method, application, and geography
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