The global rodenticidesmarket is set to gain momentum from the increasing contamination offood items. Rodents are capable of contaminating around ten times the amount offood that they consume. Sometimes, it is much more. This information is givenby Fortune Business Insights™ in a recentreport, titled, “Rodenticides Market Size, Share & Industry Analysis, By Type(Anticoagulant and Non-anticoagulant), Form (Pellets, Powders, Sprays, andOthers), Application (Agricultural Fields, Warehouse, Pest Control Companies,and Others), and Regional Forecast, 2020 – 2027.” The report further states that the rodenticides market size was USD 2.04 billion in 2019 and isprojected to reach USD 2.66 billionby 2027, exhibiting a CAGR of 3.46% during the forecast period (2020-2027).
Regional Analysis-
Increasing Number of Residential Societies to Drive Growth in NorthAmerica
In terms of geography, the marketis divided into Asia Pacific, South America, North America, the Middle East andAfrica, and Europe. Out of these, North America procured USD 692.58 millionrevenue in 2019. It is set to dominate the market in the near future. Thisgrowth is attributable to the rising number of residential societies in thisregion. Coupled with this, the increasing demand for rodent control products andservices would contribute to the market growth in this region.
Asia Pacific, on the other hand, isexpected to showcase rapid growth during the forecast period backed by theever-increasing population, especially in the developing countries, such asIndia and China. Most of the people are engaged in agriculture in thesecountries. The growing population is urging the farmers in providing themaximum yield to fulfil the unmet needs. The production is lowering because ofrodent attacks. Hence, such attacks need to be reduced. Also, rodenticides areeasy-to-use, cheap, and are very effective. These factors are increasing theirpopularity in this region.
Competitive Landscape-
Key Players Engage in Mergers & Acquisitions to Broaden ProductPortfolio
Major companies operating in themarket are aiming to generate more sales by launching unique rodenticides inthe market. Some of the reputed enterprises are also acquiring local players toincrease their product portfolios. A few of the others are conducting awarenessprograms to let people know about the availability of various novel rodentpests and their advantages.
Browse More Insights into the Rodenticides Market Research Report:
https://www.fortunebusinessinsights.com/rodenticides-market-102826
