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Pest Control Market Growth Factors, Recent Developments, Industry Size, Share by 2027

12-06-2021 08:27 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insights

Pest Control Market

Pest Control Market

The global pest control market is set to gain impetus from the rising development of biocontrol agents that can be used to control pests effectively. These agents are naturally existing living organisms and are less toxic, unlike the chemical pesticides. Fortune Business Insights™ presented this information in a recently published report, titled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type (Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, and Biological), Application (Residential, Commercial, and Industrial), and Regional Forecast, 2020 – 2027.” The report further states that the pest control market size was USD 19.73 billion in 2019 and is projected to reach USD 31.94 billion by 2027, exhibiting a CAGR of 6.31% during the forecast period (2020-2027).

The COVID-19 pandemic has taken a toll on the pest control industry. Even though governments of various countries have listed the industry under essential services, companies still need to make certain changes in their strategies to remain productive. Most of them are using communication apps, such as Slack to help their teams stay remotely connected. Our in-depth reports will help you in choosing the right business plan to increase sales.

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How is This Report Developed?
We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather authentic information of the market. Our unique bottom-up approach helps in generating crucial data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current market trends.

Drivers & Restraints-
Increasing Prevalence of Vector-borne Diseases to Accelerate Growth
The rising incidence of life-threatening diseases, such as Zika virus fever, malaria, yellow fever, and dengue is set to drive the pest control market growth in the coming years. The World Health Organization (WHO) declared that every year, approximately 7,00,000 deaths occur due to vector-borne diseases. Hence, the increasing awareness about the benefits of numerous pest control methods, such as biological, mechanical, and chemical would aid growth. Besides, industries, namely, agriculture and food & beverages experience huge losses because of pest infestation. However, the commercial usage of pesticides is stringently monitored by governing bodies, such as the United States Environmental Protection Agency (EPA). It may hamper growth.
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Insects Segment to Grow Steadily Fueled by Their Ability to Destroy Agricultural Areas
Based on pest type, the insects segment generated 49.30% in terms of the pest control market growth in 2019. They can cause serious problems in non-agricultural and agricultural areas. Therefore, they require novel pest control solutions and services for eradication.

Regional Analysis-
Rising Residential & Commercial Constructions to Favor Growth in North America
In 2019, North America held USD 9.59 billion in terms of revenue. It is set to dominate the market throughout the forthcoming years backed by the rising number of commercial and residential constructions in Canada and the U.S. Additionally, the presence of various prominent pest control service providers, such as ServiceMaster, Rollins Inc., and Terminix would spur growth.

Europe, on the other hand is set to exhibit considerable demand fueled by the increasing climate changes that often result in the emergence of temperature-specific pests. In Asia Pacific, the rapid urbanization in Malaysia, India, and China would contribute to growth. Apart from that, the increasing consumer expenditure is likely to boost demand for pest control services in this region.

Competitive Landscape-
Key Players Focus on Introducing Novel Products to Prevent COVID-19 Pandemic
The market for pest control houses more than 40,000 companies operating across the globe. They are mainly focusing on gaining new awards for strengthen their positions. Some of the others are inclining towards stopping the transmission of the coronavirus by launching novel products.

Below are the two latest industry developments:
• November 2020: NJ Wildlife and Pest Control bagged QualityPro’s new Public Health in Rodents certification. It is the first pest management firm to win this certificate. The company provides a wide range of pest management solutions.
• October 2020: Pelsis Group unveiled its new Hurricane ES (Electrostatic) fogger to help prevent the spread of coronavirus. It is a hand held fogging machine equipped with Ultra-Low Volume (ULV). It can charge tiny droplets of disinfectant solutions to develop ultra-low volume fogs.

A list of all the reputed pest control manufacturers operating in the global market:
• Rentokil Initial Plc. - United Kingdom
• Rollins Inc. – United States
• Terminix International Company L.P – United States
• ServiceMaster Global Holdings Inc. – United States
• Ecolab Inc. – United States
• Massey Services Inc. – United States
• Anticimex – Sweden
• Bayer AG – Germany
• Truly Nolen – United States
• Bell Laboratories – United States

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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