Developing Countries Expected to Witness High Demand for Pest Control Products and Services in the Future

The pest control market is projected to reach USD 22.04 billion at a CAGR of 5.3% from 2016 to 2021. The market is driven by factors such as drastic climate changes  and increasing pest population. There is high growth potential in developing markets such as China and India, which provides new development opportunities for market players.

Among the types of pest control, biological control is the fastest-growing segment, as it is effective in targeting stored product insects such as beetles, weevils, mites, and moths. These insects can infest grain and bulk commodities such as cocoa, rice, nuts, animal feed, and other raw materials used for manufacturing food.

Ban on the usage of methyl bromide and the effects of this chemical on the environment have given opportunities to introduce alternative/new products in the pest control market. Manufacturers, especially in Europe and North America, are working toward the usage of alternative sources that are environment friendly and fulfill regulatory mandates of these regions.  

The key players in the Pest Control Market are as follows:

• ·         BASF SE (Germany)
• ·         Bayer AG (Germany)
• ·         Ecolab (U.S.)
• ·         Syngenta AG (Switzerland)
• ·         Rentokil Initial plc (U.K
• ·         FMC Corporation (U.S.)
• ·         Rollins, Inc. (U.S.)
• ·         Terminix International Company, L.P (U.S.)
• ·         Bell Laboratories Inc. (U.S.)
• ·         the Dow Chemical Company (U.S.)

The importance of pest control is increasing as it is the most effective way to kill insects in residential, commercial, and agricultural areas. On the basis of pest type, pest control is classified into insect pests, followed by termites. The termite segment is projected to grow at the highest CAGR from 2016 to 2021.

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Asia-Pacific is projected to be the fastest-growing regional market for pest control. The growth of this market is attributed to pest control practices, adopted by a majority of the population which is engaged in agriculture, for better cultivation and prevention of losses after harvest. In the Asia-Pacific region, countries such as China and Japan have high demand for agricultural products and concerns about loss of stored grains is also high. This has driven the market for pest control.

Players in the pest control market continue to invest and introduce new and innovative products. This strategy provides market players enough opportunities to increase their market share and expand across different countries in the Asia-Pacific region. These players adopt acquisitions, new product launches, expansions, collaborations, and agreements with leading and other local companies, to enhance and strengthen their geographic reach in the pest control market.

The key players in the market include BASF SE (Germany), Bayer AG (Germany), Ecolab (U.S.), Syngenta AG (Switzerland), and Rentokil Initial plc (U.K.).

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