Pest Control Market projected to grow with significant CAGR over the forecast period
Pest Control Market projected to grow with significant CAGR over the forecast period
Overview of the Pest Control Market
The process of killing unwanted living organisms like termites, cockroaches, bedbug etc in the vicinity of crops by applying repellents or deterrents, so that the normal human activities around the crops is not affected. There are a number of ways to have pest control. Two important ones are mechanical and chemical pest control methods.
Drivers and Constraints of the Pest Control Market
Main driving forces for the pest control market are – unhygienic conditions due to rapid industrialization, changing climatic conditions, strict regulations regarding pest control in manufacturing industries, rising awareness about health and hygiene among people, rising income etc.
While, the constraining forces are – high product cost, introduction of biocide products, stringent regulations regarding usage of pests and the bad impact of pest control on human health and environment etc.
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Pest Control Market – Segmentation
The global pest control market can be broadly segmented on the basis of pest type, mechanism of action, and application.
On the basis of the pest type, the market can be segmented as below:-
• Termites
• Rodents
• Insects
• Others
On the basis of the mechanism of action, the market can be segmented as below:-
• Mechanical Pest Control
• Chemical Pest Control
• Biological Pest Control
On the basis of the application, the pest control market can be segmented as below:-
• Industrial
• Agricultural
• Commercial
• Residential
• Others
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Analysis of the Pest Control Market Based on Regions
On the basis of the geography, the pest control market can be divided into five important regions. They are:-
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa
In North American region, it is mostly strict regulations regarding food safety and hygiene that is likely to drive growth in the forecasted period.
In Europe, there are a number of growth driving factors like- rapid industrialization leads to pest outburst which in turn will boost the growth for the pest control market, awareness about the diseases caused due to pests and finally the introduction of new products in the pest control market through intense R & D activities.
In Asia-Pacific, growth will be witnessed mainly due to rapid urbanization which may lead to pest outburst and growing application of pest control in agriculture.
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Pest Control Market – Market Players
Few of the key players in the pest control market are listed below:-
• Terminix International Company Ltd. (U.S.)
• FMC Corporation (U.S.)
• Ecolab Inc. (U.S.)
• Rollins Inc. (U.S.)
• Rentokil Initial plc. (U.K.)
• Bayer CropScience AG (Germany)
• Bell Laboratories Inc. (U.S.)
• SenesTech, Inc. (U.S.)
• Brunswick Pest Control, Inc. (U.S.)
• Syngenta AG (Switzerland)
• Pest control Pvt. Ltd. (India)
• BASF SE (Germany)
Mergers, acquisitions, joint venture, collaborations and new product launch are the strategies being adopted by market players in order to grow.
Recent Developments in the Pest Control Market
• February, 2017 – agreement to form a joint venture between Rentokil Initial Plc and Pest Control Pvt. Ltd. India to expand Rentokil’s pest control business in India.
• August, 2016 – U.S. Environmental Protection Agency (EPA) approval to ContraPest, a pest control product by Senestech, Inc.
• July, 2016 - U.S. Environmental Protection Agency (EPA) approval to IGI carbon Dioxide pest control product by Inert gas Injection, LLC.
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