Pest Control Market is anticipated to grow at a CAGR of 5.1% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Pest Control Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Pest Control Market accounted for over ~US$ 20.08 billion in 2019. It is anticipated to grow at a CAGR of 5.1% from 2019 to 2030.
The growth of the pest control market can be attributed to several factors, such as low cost of pesticides, effectiveness, ease of application, and availability of insecticides. Moreover, primary demand for insecticides in agriculture for crop protection, and regular pest control services in commercial & residential buildings have further added to the demand for pest control products worldwide. Furthermore, favorable government regulations and growing focus on agriculture to enhance crop production among emerging countries is anticipated to drive the growth of the pest control market.
Factors such as rising awareness among people regarding preventive measures for pest, disease outbreak and high standard of living among consumers have played a crucial role in increasing the demand for pest control products and services. According to latest research studies, approximately 40% of all forests in the United States are threatened with extinction due to pests. The growing threat of pests on forests is an extremely alarming aspect since forests plays an important role in maintaining climatic conditions and control greenhouse emissions. Altered rainfall patterns, rising temperature, wildfire patterns, and growing pest population are few of the adverse outcomes which may arise from wide scale loss of forests across any region.
However, consumer awareness regarding adverse effects of pesticides and overuse of the same may result in development of pesticide-resistant insects. These factors may however restrain the healthy growth of the pest control market to a certain extent.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Pest Control Market by Type (Biological, Chemical, and Mechanical), by Pest Type (Insects, Rodents, and Termites), and by Application (Agriculture, Commercial, Industrial, and Residential) – Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/pest-control-market/271
Asia Pacific is estimated to account for the highest CAGR in the pest control market during the forecast period, owing to factors such as rapid urbanization, and rising demand for food products to cater to the growing population in this region. The growth in the Asia Pacific region can also be attributed to growing number of diseases outbreaks, adoption of favorable regulations by government bodies, and public health campaigns regarding the management of pests and other insects. Emerging economies such as China, and India are largely dependent on agriculture and therefore incorporation of pest control methods in farming is anticipated to further compliment the growth of the market in the coming years. Moreover, the sub-tropical climatic condition of China, Japan, India and other counties in the region provides an ideal conditions for pest which is likely to boost the pest control market in this region.
Some of the prominent players in the pest control market include FMC Global Specialty Solutions, Ecolab, Bell Labs., Industrial Fumigant Company LLC., Bayer AG, Safeguard Chemical Corporation, Rentokil Initial plc, Woodstream Corporation, Rollins, Inc., BASF SE, and others.
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