Pest control products and services play a vital role in maintaining hygiene and protecting public health from vector-borne and other infectious diseases. The growing population around the world has increased the spread of pests such as termites, rodents, and insects in both commercial and residential spaces. There is a rising demand for effective pest control methods to eliminate pests and prevent infestations. Pest control products include insecticides, rodenticides, and other chemicals that are used to kill or repel unwanted insects, rodents, and other pests. Meanwhile, pest control services involve regular inspections and treatments by professional pest control operators.
The Global Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the pest control products and services market is the rising adoption of eco-friendly products. Consumers are increasingly aware of the health hazards caused by toxic chemicals in conventional pest control products and opting for green pest control methods. Many leading companies are investing in research and development activities to introduce plant-based and bio-based pest control products made from essential oils, diatomaceous earth, and other natural ingredients. Furthermore, innovation in pest control tools and equipment has resulted in advanced monitoring systems using automation, robotics, and IoT. Smart traps, drones, and AI-enabled devices are gaining popularity among pest control operators to tackle pest infestations effectively in both commercial and residential structures. Advancements in digital technologies help provide real-time notifications, predict pest activity, and optimize treatment patterns.
Porter’s Analysis
Threat of new entrants: The pest control products and services market requires significant capital investment to set up operations. In addition, the market is fragmented with the presence of many regional and global players. This poses moderate threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power. There are many players providing similar products and services. However, switching costs for buyers are low.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitute raw materials and components.
Threat of new substitutes: Threat of substitutes is moderate as integrated pest management provides an alternative to pest control chemicals.
Competitive rivalry: The market is fragmented with many regional and global players competing on pest management solutions.
Key Takeaways
Global Pest Control Products And Services Market Demand is expected to witness high growth. The market size for 2023 is estimated at US$ 23.78 Bn and is forecast to reach US$ 40.28 Bn by 2030, registering a CAGR of 6.1% during the forecast period.
Regional analysis: North America dominates the market currently owing to stringent government regulations regarding pest and disease control. Asia Pacific is expected to witness the fastest growth over the forecast period supported by growth in construction and hospitality industries in the region.
Key players: Key players operating in the pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Ecolab Inc. and Rollins Inc. are the market leaders due to their diverse product and service portfolio as well as global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
