Allied Market Research published a research report on the rodent control market. The findings of the report states that the global market for rodent control generated a revenue of $2.4 billion in 2019, and is projected to reach $3.9 billion by 2027, growing at a CAGR of 6.4% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Rise in health and economic concerns due to the presence of rodents in residential and commercial areas and surge in prevalence of crop protection in agriculture in developing countries are expected to drive the growth of the global rodent control market. On the other hand, stringent regulations on the use of chemical-based rodent control hinder the growth to some extent. However, an extensive use of bio-based rodenticides is expected to create tremendous opportunities in the industry.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the rodent control market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global rodent control market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to the closure of various manufacturing units, including those of rodent control, in order to limit the spread of the virus during the pandemic. This led to adverse supply chain disruptions in the market. However, the market is expected to recoup soon.
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“The global rodent control market is heading toward the expansion phase. This is attributed to significant industrialization and urbanization across the globe. Rodent control products and services are widely used in residential, commercial, and industrial sectors. Rodents are widely found in residential areas as they are well adapted to life without a steady water supply, and are able to survive long periods on cereals and food scraps. Government of developed countries like U.S. has launched various programs like vector control initiative and rodent abatement program to control rat infestations in the cities and country,” said Eswara Prasad, Manager, Chemical and Material at Allied Market Research.
The report offers detailed segmentation of the global rodent control market based on type, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.
Based on type, the chemical segment accounted for the highest share in 2019, holding more than one-third of the global market. The biological segment, however, is expected to cite the fastest CAGR of 7.3% during the forecast period.
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Based on application, the residential segment held the majority share in 2019, garnering nearly one-third of the global market. The commercial segment, however, is expected to exhibit the fastest CAGR of 6.8% during the forecast period.
Based on region, the market across North America held the lion’s share in 2019, accounting nearly half of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.
The leading players analyzed in the global rodent control market include Anti cimex, BASF SE, Bayer AG, Ecolab Inc., Senestech Corporation, Syngenta AG, Neogen Corporation, PelGar International, Rentokil Initial Plc, Rollins Inc.
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