The Pest Control Products and Services Market is estimated to be valued at US$ 22.4 billion in 2022 and is expected to exhibit a CAGR of 6.15% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Pest Control Products and Services market offers a wide range of products and services designed to eliminate pests and maintain a pest-free environment in residential and commercial spaces. These products include insecticides, rodenticides, traps, and repellents, among others. The services offered by pest control companies include both preventive measures and curative treatments to eliminate pests such as cockroaches, termites, bed bugs, rodents, and mosquitoes.
Market Dynamics:
The global pest control products and services market is primarily driven by the increasing awareness about the negative impacts of pests on human health and property. The growing prevalence of pest-related diseases and the need for maintaining hygiene have fueled the demand for pest control products and services. Additionally, the rapid urbanization and industrialization across the globe have resulted in a rise in the number of commercial spaces, such as hotels, restaurants, and hospitals, which require regular pest control services.
Furthermore, the development of eco-friendly and chemical-free pest control solutions has opened up new opportunities for market growth. Consumers are increasingly opting for natural and organic pest control products, driven by concerns about the adverse effects of chemical-based solutions on the environment and human health.
Segment Analysis:
The segment analysis of the pest control products and services market reveals several key segments that contribute to its overall growth. One dominating sub-segment is the insect control segment. Insects pose a significant threat to human health and agriculture, making insect control a priority for both residential and commercial consumers. This sub-segment is dominating due to factors such as the increasing prevalence of diseases transmitted by insects, growing awareness about the importance of pest control, and the need for effective solutions to protect crops from insect damage. Additionally, advancements in technology have led to the development of innovative insect control products and services, further bolstering the dominance of this sub-segment.
PEST Analysis:
Political: The political factor affecting the pest control products and services market is the implementation of regulations and policies related to the use of pesticides. Governments across the globe are introducing stringent regulations to ensure the safe and responsible use of pesticides, which can impact the market dynamics.
Economic: The economic factor influencing the market is the growth of the agriculture sector. As agriculture continues to expand, the demand for pest control products and services also increases to protect crops from pests and diseases. Additionally, rising urbanization and a growing residential sector contribute to the market’s growth.
Social: The social factor affecting the market is the increasing awareness about the importance of pest control for public health and hygiene. Consumers are becoming more conscious about maintaining a clean and pest-free environment, driving the demand for pest control products and services.
Technological: The technological factor influencing the market is the development of advanced pest control solutions. Innovations in pest control technology, such as the use of drones for monitoring and spraying pesticides, are enhancing the efficiency and effectiveness of pest control operations.
Key Takeaways:
The global pest control products and services market is expected to witness high growth, exhibiting a CAGR of 6.15% over the forecast period. This growth can be attributed to the increasing prevalence of diseases transmitted by insects and the growing awareness about the importance of pest control. Additionally, the expansion of the agriculture sector and rising urbanization contribute to the market’s growth.
In terms of regional analysis, North America is projected to be the fastest-growing and dominating region in the Pest Control Products and Services Market Growth. The region’s dominance is primarily due to the stringent regulations on pesticide usage and the increasing demand for pest control services from residential and commercial sectors.
Key players operating in the pest control products and services market include 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. These key players play a significant role in driving market growth through their extensive product offerings, strong distribution networks, and strategic partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
