by The Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The pest control products and services market involves the use of various chemical and non-chemical formulations to control or eliminate pests that infest commercial, industrial, and residential premises. The major pests targeted include rodents, termites, bed bugs, cockroaches, flies, mosquitoes and others. Common pest control products include insect sprays, foams, gels, and baits containing active ingredients such as pyrethroids, neonicotinoids, and organophosphates. Pest control services include inspection, control and prevention of pests through mechanical, biological, and chemical methods.
Market Dynamics:
Growing consumer awareness about hygiene and public health has emerged as a primary driver fueling demand for pest control products and services globally. According to surveys, over 70% of households in the US invest in pest control annually to curb health hazards stemming from pest infestation. Moreover, the increasing trend of nuclear families has enhanced the need for pest proof homes and commercial spaces. Additionally, the expanding construction industry has also boosted demand as new properties require pest inspection and prevention measures before occupation. Changing climatic conditions have further facilitated pest population growth, necessitating integrated pest management practices. Stringent government regulations regarding public health are also prompting adoption of pest control practices across industries.
Segment Analysis
The pest control products and services market can be segmented by pest type into insects, termites, rodents, and others. The termites segment currently dominates the market due to the extensive damage termites can cause to wooden structures. Termites consume wood and tree matter as their main food source and damage all types of timber structures like foundations, wooden furniture, and flooring.
PEST Analysis
Political: Regulations regarding the use of pesticides are increasing globally. This may impact the pest control products market.
Economic: Improving economic conditions are prompting more people and businesses to invest in pest control to protect indoor and outdoor spaces.
Social: Rising health awareness among consumers is increasing demand for effective and eco-friendly pest control solutions.
Technological: Advancements in monitoring and identification technologies help in quicker pest identification and control. Digital monitoring solutions are gaining acceptance.
Key Takeaways
The global Pest Control Products And Services Market Share is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing awareness among consumers regarding health impacts of pests and growth of the pest control industry.
The North America region dominates the market currently due to high expenditure on pest control, presence of leading market players, and growth in construction activities. Growing pest problems and rapid urbanization are boosting market growth in Asia Pacific which is emerging as the fastest growing regional market.
Key players operating in the pest control products and services market are 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. Strategic acquisitions and innovations in products and service offerings are key strategies adopted by major players to gain market share and cater to rising demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
