Popular pest control products include insecticides, rodenticides, insect growth regulators, and other chemicals, which are used to control insects, weeds, rodents, and other pests in homes and commercial spaces. The global pest control products and services market is witnessing significant growth due to the growing adoption of eco-friendly pest control products. Eco-friendly pest control products such as essential oils, pheromone traps, and biorational products help control pests without the use of harsh chemicals. Companies are also introducing mosquito repellents made from plant-based ingredients that are safe for both humans and the environment.
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 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.Insights.
Market Dynamics:
Growing adoption of eco-friendly products is expected to drive growth of the pest control products and services market over the forecast period. There is an increasing demand for eco-friendly and sustainable pest control solutions due to growing awareness about the harmful effects of synthetic chemicals. Eco-friendly alternatives such as plant-based oils, microbials, and pheromones are effective in controlling pests without harming the environment. They also help control pests in organic farming. The increasing organic farmland is expected to boost demand for organic and environment-friendly pest control methods over the forecast period. Another driver for the market growth is growing construction activities in both residential and non-residential sectors. Rapid urbanization and infrastructure development require regular pest control services in buildings to prevent pest infestations. This is expected to fuel demand for various pest control products and services for all types of pests including cockroaches, ants, termites, and rodents during the forecast period.
Segment Analysis
The pest control products and services market is segmented into chemical, mechanical and biological products & services. The chemical segment dominates the market and is expected to continue its dominance during the forecast period. Within the chemical segment, insecticides hold the largest market share due to their effectiveness in controlling a wide range of insects. Their easy application and quick results are boosting the demand for insecticides in the pest control market.
PEST Analysis
Political: Regulations regarding the use of chemical pest control products are becoming stricter to reduce their harmful effects on the environment and human health. This is promoting the adoption of mechanical and biological products.
Economic: Rise in construction activities and growing infrastructure is leading to increase in commercial and residential spaces which requires regular pest control services. This is driving the market growth.
Social: Growing awareness among people about pest-borne diseases is increasing the demand for pest control products and services from both residential and commercial sectors.
Technological: Companies are investing in development of novel and environment-friendly pest control technologies like pheromone traps, ultrasonic devices etc. Drones are also being used for pest control of large fields and plantations.
Key Takeaways
The Global Pest Control Products And Services Market Size is expected to witness high growth over the forecast period. The Asia Pacific region dominates the market and is expected to maintain its leading position during 2023-2030. Factors such as rapid urbanization, increasing food production, and rising consumer awareness are propelling the demand for pest control products and services in the region.
Regional analysis
The Asia Pacific region accounts for around 35% value share of the global market led by strong demand from countries like China and India. Rapid economic growth and urbanization are increasing infrastructure and commercial construction activities in the region generating the need for pest control.
Key players
Key players operating in the pest control products and services market are Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo. Borosil and Milton are leading manufacturers of pest control products in India while Nike dominates the sports shoes and apparel segment globally.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it