The global pest control market size is anticipated to witness substantial growth on account of the increasing rodent population and reach USD 42.79 billion by 2032. The change in climatic conditions and the rapidly growing population of rodents worldwide have increased the demand for pest control worldwide. As per a recently published report by Fortune Business Insights titled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type (Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, and Biological), Application (Residential, Commercial, and Industrial), and Regional Forecast, 2020 – 2032,” the market value was USD 19.73 billion in 2019 and is anticipated to rise at a CAGR of 6.19% during the forecast period, 2020 to 2032.

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The Pest control market Report Answers the following Questions?

  • How fierce is the market competition?
  • How will government support to Integrated Pest Management boost market?
  • Which strategies are adopted by market players to gain a competitive edge in the market?
  • What is the impact of the COVID19 pandemic on the pest management market?

Drivers & Restraints-

Advent of Pest Control Software will Bolster Growth

One of the main factors driving the growth of the pest control industry is the increase in the number of deadly vector-borne diseases. According to the World Health Organization, vector-borne illnesses cause 7,00,000 fatalities worldwide each year, or 17% of all infectious diseases. Pest-related diseases are driving up the demand for biological, mechanical, and chemical pest management techniques, which is driving up growth. Furthermore, rising industry and urbanization, which fueled a surge in building activity, have raised people’s expectations of hygiene. This gave the growing need for pest management even more momentum.

On the down side, a number of organizations, including the government and the US Environmental Protection Agency (EPA), closely monitor the usage of pesticides and insecticides. Strict laws have been put in place regarding the usage of poisonous pesticides and other deadly substances that could endanger the ecosystem. The market as a whole may suffer as a result in the upcoming years.

However, the market is currently heading toward more widespread use of pest control software, which presents profitable development potential.

Segment-

Insects Segment to Dominate Market with its Proliferating Population

Based on the pest type, the insects segment dominated the market in 2019 with a 49.30% pest control market share. This is attributed to the rapidly multiplying insect population in both agricultural and non-agricultural areas.

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Regional Analysis-

North America Emerged Dominant Owing to Presence of Major Players

The main contribution to the growth of the North American market is the growing awareness of the detrimental consequences of pest infestations on cleanliness and health. This region’s growing number of residential and commercial infrastructure development activities brought in USD 9.59 billion in revenue in 2019. This will support the region’s continued dominance in the near future, along with the presence of most manufacturers in the pest management sector.

On the other hand, the Asia Pacific market is projected to grow quickly because to the acceleration of urbanization efforts in rising economies like Malaysia, China, India, and others. This, together with consumers’ growing spending on pest management solutions and growing awareness of the toxicity that pests can cause, will help this region grow at a notable CAGR in the years to come.

Competitive Landscape-

Players Emphasizing on Innovative Product Launches to Gain Strategic Position in Market

Pest control goods and services are offered by over 40,000 enterprises globally, creating a highly fragmented competitive landscape. Leading competitors in the market, including Rentokil, Rollins Inc., and ServiceMaster, contribute some of the greatest shares. To obtain a competitive edge in the market, they are cooperating and investing in recently announced items.

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

September 2019 – ServiceMaster purchased Nomor Holding AB, the fourth-largest pest control company, in order to expand its product offering in the European market.

January 2019 – Rentokil purchased Multicontrole Pest Control, a massive Brazilian pest control company. Extending the market’s geographic reach throughout the South American region is the main goal of this acquisition.

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

  • ServiceMaster Global Holdings Inc. – United States
  • Bayer AG – Germany
  • Terminix International Company L.P – United States
  • Anticimex – Sweden
  • Rentokil Initial Plc. – United Kingdom
  • Ecolab Inc. – United States
  • Truly Nolen – United States
  • Rollins Inc. – United States
  • Massey Services Inc. – United States
  • Bell Laboratories – United States
  • Other vendors

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