by The Pest Control Products and Services market is estimated to be valued at US$ 22.4 billion in 2021 and is expected to exhibit a CAGR of 6.15% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Pest Control Products and Services market offers a range of products and services aimed at managing and eliminating pests from residential, commercial, and agricultural areas. This includes insecticides, rodenticides, traps, fumigation services, and preventive measures. The market caters to various industries, including agriculture, food processing, healthcare, and hospitality, among others. With the increasing awareness regarding health and hygiene, there is a growing demand for effective pest control solutions to prevent the spread of diseases and maintain a safe and clean environment.
Market Dynamics:
The Pest Control Products and Services market is driven by two key factors Increasing awareness regarding health and hygiene and the rising demand for eco-friendly pest control solutions. With the growing concern for the spread of diseases transmitted by pests, such as mosquitoes, ticks, and rodents, there is an increased focus on pest control to ensure public health and safety. Additionally, there is a shift towards eco-friendly pest control solutions, driven by the rising environmental concerns and regulations regarding the usage of harmful chemicals. This has led to the development and adoption of bio-based and organic pest control products and services in the market.
Segment Analysis:
The pest control products and services market can be segmented based on the type of pest control products and services offered. One dominating sub-segment in this market is the insecticides segment. This segment is dominating due to the high demand for insecticides in controlling and eliminating pests such as mosquitoes, flies, ants, and bedbugs. Insecticides are widely used in residential, commercial, and agricultural sectors to maintain the hygiene and safety of the environment. The increasing prevalence of vector-borne diseases and growing awareness regarding the importance of pest control are driving the demand for insecticides. Additionally, advancements in insecticide formulations and the development of eco-friendly insecticides are further propelling the dominance of this sub-segment in the market.
PEST Analysis:
Political: The political landscape plays a crucial role in shaping the pest control products and services market. Government regulations and policies regarding the use of pesticides, import/export regulations, and pest control standards impact the market dynamics.
Economic: Economic factors such as disposable income levels, GDP growth, and overall consumer spending patterns influence the demand for pest control products and services. A growing economy and increasing urbanization lead to higher demand for pest control solutions.
Social: Changing consumer lifestyles, increasing awareness about the importance of pest control for health and hygiene, and the rise of organic and eco-friendly pest control methods are shaping the social factors impacting the market.
Technological: Technological advancements in pest control methods and equipment, such as the development of low-toxicity pesticides and smart pest control devices, have revolutionized the industry. These advancements contribute to the growth and adoption of pest control products and services.
Key Takeaways:
The global Pest Control Products And Services Market Growth is expected to witness high growth, exhibiting a CAGR of 6.15% over the forecast period (2023-2030). This growth is primarily driven by the increasing awareness about the importance of pest control for public health and hygiene. The market size for 2021 is estimated to be US$ 22.4 billion.
In terms of regional analysis, North America is the fastest-growing and dominating region in the pest control products and services market. This can be attributed to the stringent regulations and standards implemented by the government regarding pest control, along with the high prevalence of pests in the region. The presence of key players and extensive research and development activities further contribute to the dominance of this region.
Key players operating in the pest control products and services market include Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. These key players focus on product innovation, mergers and acquisitions, and strategic partnerships to strengthen their market position and cater to the growing demand for pest control products and services.
*Note:
1) Source: Coherent Market Insights, Public sources, Desk research
2) We have leveraged AI tools to mine information and compile it
