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Pest Control Market Will Hit Big Revenues In Future | Key Players are Terminix, Ecolab, Rollins Inc., Rentokil Initial Plc,Bayer AG, BASF, Syngenta AG

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Pest Control Market Will Hit Big Revenues In Future | Key Players are Terminix, Ecolab, Rollins Inc., Rentokil Initial Plc,Bayer AG, BASF, Syngenta AG

April 13
01:31 2021
Pest Control Market Will Hit Big Revenues In Future | Key Players are Terminix, Ecolab, Rollins Inc., Rentokil Initial Plc,Bayer AG, BASF, Syngenta AG

MarketsandMarkets™
The overall pest control market is projected to grow from USD 22.7 billion in 2021 to USD 29.1 billion by 2026, at a CAGR of 5.1%

The report “Pest Control Market by Pest Type (Insects, Rodents, Termites), Control Method (Chemical, Mechanical, Biological), Mode of Application (Sprays, Traps, Baits), Application (Residential, Commercial, Industrial), and Region – Global Forecast to 2026“, published by MarketsandMarkets™. The global pest control market is projected to reach USD 29.1 billion by 2026, from USD 22.7 billion in 2021, at a CAGR of 5.1% during the forecast period. Increasing awareness about environmental pollution and public health concerns caused by vector-borne diseases are the major factors driving the demand for pest control services across the globe. With the increase in population, there is also increased pressure on limited resources, resulting in overexploitation and environmental degradation. The degradation of the ecosystem leads to global warming and temperature rise, which are expected to enhance the survival capability of pests across different seasons indirectly. Global warming has been an important factor in the movement of tropical pests away from the equatorial region.

Pest Control Market

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Insects are the major pest type driving the growth of the pest control market during the forecast period.

The insects segment dominated the pest control market due to the high prevalence of insects such as bedbugs, flies, mosquitoes, and wasps. The prevalence of insects is high in all the regions; hence, the demand for pest control for insects is high, globally. According to the World Health Organization, mosquito bites result in the deaths of more than 1 million people, every year; most of these deaths are due to malaria. Therefore, pest control is largely carried out to eradicate/kill mosquitoes. As per the UK Climate Projections 2018 study, the summer temperatures could be 5.40C hotter by 2070. With climate change and a rise in temperature, the population of flies is projected to increase by 244% from 2015 to 2080, according to the World Health Organization (WHO). This, in turn, is projected to increase the demand for insect pest control in Europe. Thus, rising temperature is one of the major factors for an increased prevalence of insects and thus increasing demand for insect pest control globally.

 

By application, the residential segment dominated the pest control market in 2020.

The residential segment is projected to exhibit a strong potential for pest control service providers, which is mainly driven by the middle-class population and increased purchasing power parity. The increasing population density, climate change, and growing economic activities can lead to a lack of resources and amenities to avert or reduce pollution risks. In addition, improper sanitary procedures and inefficient implementation processes for public health hygiene are projected to cause health risks in the residential sector. The residential segment mainly witnesses a surge in demand for pest control services for the containment of cockroaches, bed bugs, mosquitoes, and termites.

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Asia Pacific region is projected to witness the highest growth in the pest control market by 2026.

The Asia Pacific region is among the fastest-growing regions for pest control. The region’s high concentration of urban population and urbanization poses a strong potential for pest control service providers. The effects of climate change and in certain cases, the negligence toward sanitary conditions in urban slums has resulted in multiple disease outbreaks. Improvements in legislation and policies surrounding the requirement of pest control have benefitted pest control service providers in the Asia Pacific region. Additionally, the region has also been susceptible to many pest-borne disease outbreaks in the last two decades. From the last quarter of 2015, there has been a significant number of cases related to Zika virus in the region. Zika virus is a mosquito transmitted Flavivirus and has been detected in several countries in the Asia Pacific region, which include Thailand, the Philippines, Malaysia, Vietnam, and Indonesia. According to a WHO report (October 2016), the Asia Pacific region is highly likely to continue to report new cases and possibly new outbreaks of Zika virus. Thus, with increasing outbreaks of diseases due to insects, the demand for pest control services is projected to increase in the region.

Key Players:

The key service providers in this market include Terminix (US), Ecolab (US), Rollins Inc. (US), Rentokil Initial Plc (UK), and Anticimex (Sweden). The pesticide suppliers in the pest control market include Bayer AG (Germany), BASF (Germany), Syngenta AG (Switzerland), Sumitomo Chemicals Co. Ltd. (Japan), ADAMA (Israel), FMC Corporation (US), Corteva Agriscience (US), PelGar International (UK), and Bell Laboratories (US).

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