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Pest Control Market Global Analysis by 2027, Fortune Business Insights™
Pest Control Market Global Analysis by 2027, Fortune Business Insights™
Key companies covered are ServiceMaster Global Holdings Inc, Bayer AG, Terminix International Company L.P, Anticimex, Rentokil Initial Plc, Ecolab Inc, Truly Nolen, Rollins Inc, Massey Services Inc, Bell Laboratories and among others

The global  pest control market  size isanticipatedto witness substantialgrowth on account of the increasing rodent population and reach USD 31.94billion by 2027. The change in climatic conditions and the rapidly growingpopulation of rodents worldwide have increased the demand for pest controlworldwide. As per a recently published report by Fortune Business Insightstitled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type(Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, andBiological), Application (Residential, Commercial, and Industrial), andRegional Forecast, 2020 - 2027,” the market value was USD 19.73 billion in 2019and is anticipated to rise at a CAGR of 6.31% during the forecast period, 2020to 2027.

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We are makingcontinuous efforts to help your business sustain and grow during COVID-19pandemics. Based on our experience and expertise, we will offer you an impactanalysis of coronavirus outbreak across industries to help you prepare for thefuture.

Fortune Business Insights™ lists out the names ofmarket manufacturers. This includes:

·        ServiceMasterGlobal Holdings Inc. – United States

·        Bayer AG – Germany

·        TerminixInternational Company L.P – United States

·        Anticimex – Sweden

·        Rentokil InitialPlc. - United Kingdom

·        Ecolab Inc. –United States

·        Truly Nolen –United States

·        Rollins Inc. –United States

·        Massey ServicesInc. – United States

·        Bell Laboratories –United States

·        Other vendors

Some of the Significant Industry Developments ofthe Pest Control Market include:

September 2019 – The fourth-largest pest control company, Nomor Holding AB was acquiredby ServiceMaster for increasing product portfolio in the European market.

January 2019 – Rentokilacquired Multicontrole Pest Control, the giant company dealing with pestcontrol in Brazil. The key objective of this acquisition is to expand thegeographical presence of the market in the South American region.

 

The Report Answers the following Questions?

·        How fierce is the marketcompetition?

·        How will governmentsupport to Integrated Pest Management boost market?

·        Which strategiesare adopted by market players to gain a competitive edge in the market?

·        What is the impactof the COVID19 pandemic on the pest management market?

Drivers & Restraints-

Advent of Pest Control Software willBolster Growth

The rise inthe number of fatal vector-borne diseases is a major factor in promoting thegrowth of the pest control market growth. The World Health Organizationstatesan annual of 7,00,000 deaths to vector-borne diseases, which accounts for 17%of all infectious diseases in the world. Diseases caused by pests are promotingthe need for various pest control methods such as biological, mechanical, andchemical methods, thereby augmenting growth. Additionally, the increasingurbanization and industrialization that propelled a rise in constructionactivities have also increased the hygiene standards among people. This furtheradded impetus to the rise in the need for pest control.

On thenegative side, the use of pesticides and insecticides is strictly monitored byvarious agencies such as the Environment Protection Agency (EPA) of the UnitedStates and the government. They have imposed stringent regulations on the useof fatal chemicals and highly toxic pest control products and services that maypose a threat to the environment. This may hamper the overall market in thecoming years.

Nevertheless,the increasing adoption of the pest control software is currently trending,thereby creating lucrative growth opportunities for the future market.

Segment-

Insects Segment to Dominate Market with itsProliferating Population

Based onthepest type, the insectssegment dominated the market in 2019 with a 49.30% pestcontrol market share. This is attributed to the rapidly multiplying insectpopulation in both agricultural and non-agricultural areas.

Regional Analysis-

North America Emerged Dominant Owing to Presenceof Major Players

Theincreased awareness about the ill-effects of pest attacks on health and hygieneis amajor factor boosting the North American market, thereby making it thelargest contributor. In 2019, this region gathered a revenue of USD 9.59 billionon account of the increasing number of commercial and residentialinfrastructural development activities. This coupled with the presence of amajority of pest management market manufacturers will help this region continuedominating in the near future.

AsiaPacific market on the other side is anticipated to rise at a rapid pace onaccount of the rise in urbanization activities across the emerging nations suchas Malaysia, China, India, and others. This, coupled with the rise in awarenessabout toxicity caused by pests and increasing expenditure on pest control products by consumers will help this region rise at asignificant CAGR in the forthcoming years.

Competitive Landscape-

Players Emphasizing on Innovative ProductLaunches to Gain Strategic Position in Market

There aremore than 40,000 companies dealing with pest control products and servicesworldwide, thereby leading to a highly fragmented competitive landscape. Someof the highest shares of the market are contributed by players such asServiceMaster, Rollins Inc., and Rentokil. They are engaging in collaborativeefforts and investing in new products launched to gain a competitive edge in themarket.

Some of the Significant Industry Developments ofthe Pest Control Market include:

September 2019 – The fourth-largest pest control company, Nomor Holding AB was acquiredby ServiceMaster for increasing product portfolio in the European market.

January 2019 – Rentokilacquired Multicontrole Pest Control, the giant company dealing with pestcontrol in Brazil. The key objective of this acquisition is to expand thegeographical presence of the market in the South American region.

Information Source:

https://www.fortunebusinessinsights.com/pest-control-market-102854

 

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