According to Future Market Insights, a rodent control pesticides industry research and competitive intelligence provider, global rodenticide consumption has increased at a CAGR of roughly 6.3% over the last half-decade. The global market is valued at US$ 5.6 Billion in 2021 and is expected to reach US$ 11.6 Billion by 2032, expanding at a CAGR of 6.8% between 2022 and 2032.
The increased incidence of transferrable illnesses such as Hantavirus infection, plague, and Lassa fever, which impacts humans, the environment, and wildlife, have been the key factors spurring the sales of Rodent Control Pesticides worldwide. There has been widespread consumption growth for rodent control products in residential, commercial, and industrial settings in the recent past.
Owing to the surge in demand, the market participants are working towards the launch of new products to efficiently reduce the rodent population. The growing number of workplaces, hotels, hospitals, and housing units, as well as a preference for high hygiene standards, are projected to drive demand in the forthcoming years.
Natural Rodent Control Pesticides are biodegradable and toxic to humans, pets, and wildlife, but they will not pose a threat to domestic animals or humans if consumed by accident. Furthermore, these substances are cost-effective, as they do not fit specific storage, handling, transportation, or disposal systems.
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Rodent Control Pesticides give efficient and speedy results in the destruction of rodents, which is projected to drive their demand throughout the forecast period. However, rigorous government regulations governing the use of active substances are expected to limit market development in the future years. Rodent Control Pesticides are often offered in the form of pellets, blocks, and powder.
Key Takeaways from the Market Study
- Rodent Control Pesticides Market was valued at US$ 5.6 Bn in 2021. According to Future Market Insights, Rodent Control Pesticides Market revenue would increase 1.9X between 2022 and 2032, reaching roughly US$ 11.6 Bn in 2032.
- In terms of Type, the Anticoagulant Rodent Control Pesticides account for the largest share with a projected CAGR of 7.1%.
- In terms of End-Use of Rodent Control Pesticides, revenue through Agriculture is projected to register a CAGR of 7.2% during 2017-21.
- The US is the dominant region in the Rodent Control Pesticides Market with an absolute dollar growth opportunity of over US$ 2 Bn, during 2022 – 2032.
Winning Strategy
Rising worries about economic loss caused by rat damage in agricultural areas are expected to fuel market expansion in the future years. Environmental worries over the use of chemicals and their harmful effects on people and other living organisms, on the other hand, are likely to limit demand. As a result, product application is heavily restricted by strict legislation.
In North America and Europe, strict laws governing the use of chemical Rodent Control Pesticides have been enacted. For example, all pesticide products in the United States must be registered with the Environmental Protection Agency (EPA) before they may be marketed to the general public. The EPA regulates these products under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA).
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Competitive Environment
The worldwide Rodent Control Pesticides market is fragmented, with a few multinational players and several new firms contending for a fair portion of the market. BASF SE, Bayer AG, Syngenta, Liphatech Inc., PelGar International, JT Eaton, Neogen Corporation, and Rentokil Initial plc are among the most active participants. These firms are looking for new markets to expand into, either by releasing a new product line after studying, developing, and field-testing it or by purchasing a manufacturing unit.
Some of the recent developments of key Rodent Control Pesticides providers are as follows:
• In September 2020, PelGar announced the launch of Cimetrol super RFU, which is a ready-to-use water-based spray for controlling several flying and crawling insects.
• In July 2020, PelGar announced that it has moved its R&D for testing to its head office in Alton, UK
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the Rodent Control Pesticides Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Rodent Control Pesticides Market in terms of Type (Anticoagulant, Non-Anticoagulant), End-Use (Pest Control, Agriculture, Warehouse, Household, Urban Centers) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered in Rodent Control Pesticides
By Type:
- Anticoagulant
- Non-anticoagulant
By End-Use:
- Pest Control
- Agriculture
- Warehouse
- Household
- Urban Centers
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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