Global Pest Control Market Key Players, Covid-19 Impact Analysis, Application, Growth Rate, Demands and Forecasts to 2026

In 2021, the global pest control market was valued at US$22.01 billion and is expected to grow to US$28.32 billion by 2026. Pest control is the process of eliminating pests or preventing them from reproducing, developing, or migrating. Pests can cause major problems, such as health issues, depending on the kind of species they are. Not only that, but bugs can cause property harm because they infest buildings, crops and the whole environment. Because of the presence of house flies, bed bugs, cockroaches, and other insects in areas where there are human activities, pest control management has become increasingly crucial in recent years.

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The four common methods of pest control process are chemical, biological, mechanical, and software and service. For a wide range of area, chemical method is more convenient than others. The pest control market is expected to grow at a CAGR of 5.10% over the forecast period of 2022-2026.

Market Segmentation Analysis:
By Method: The report provides the bifurcation of pest control market into four segments on the basis of method: Chemical, Mechanical, Biological and Others. In 2021, the chemical segment lead the pest control market, accounted for 39.7% share of the market because chemical method is more effective than any other methods and less time consuming and availability of chemicals in almost all places. The biological pest control market is expected to grow at the highest CAGR, driven the rising demand in organic farming.

By Pest Type: The report identifies four segments on the basis of pest type: Insect, Termite, Rodent and others. The insect segment dominated the pest control market, with 42.01% share of the market in 2021. Insect pest management products and services from various end-use industries have increased in popularity, particularly in North America and Europe.

By Application: The report includes the bifurcation of market into four segments on the basis of application: Commercial, Residential, Agricultural and Others. Commercial segment dominated the market in 2021 by occupying more than 40% share. After months of being vacant in the lockdown period, several business facilities were planning to reopen. A huge demand for pest control service has emerged in the commercial sector during that period. With a CAGR of 5.75%, the residnetial segment would grow at the highest CAGR during the forecast period. The residential pest control market is driven by rapid growth of population and urbanization.

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By Region: In our report, the global pest control market is divided into five regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominated the market in 2021 with almost 49% share of the global market.
The most important factor driving the pest control market in North America is suitable climatic conditions for pests. The US is the leading pest control market in the North America region. The rapid growth of housing market in the US would boost the US pest control market in the years to come. Asia Pacific pest control market provides lucrative opportunities in the coming years. The rapid development in urban activities throughout various growing economies in Asia Pacific, such as India, China, Malaysia, and others gives a resilient opportunity for pest control service providers.

Global Pest Control Market Dynamics:
Growth Drivers: The most important environmental factor impacting pest population dynamics is rising surface temperature, and global climate change is expected to result in pests expanding their geographic range, improving overwintering survival, and increasing the number of generations. Furthermore, the market has been growing over the past few years, due to factors such as rapid urbanization, infrastructure development, rising industrial activities, rise in number of fatal vector-borne diseases, and rising awareness about cleanliness, hygiene and health.
Challenges: However, the market has been confronted with some challenges specifically, rising cocerns regarding the harmful impact of pesticides, lack of skilled manpower in the developing regions, etc. Pesticides have certain negative repercussions.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as adoption of AI based technologies, increasing demand of IoT devices globally, increasing demand of modern technologies like CRISPR gene editing tool, Insect Growth Regulators (IGRs), Integrated Pest Management and shift towards biopesticides. The demand for these newly introduced modern technologies have increased as people become more concerned about environmental issues and their health. The shift towards biopesticides is also acting as a most important trend in the pest control market. Many sectors have shifted their focus on sustainable and environment friendly agents of pest control, the bio pesticides.

Impact Analysis of COVID-19 and Way Forward:
Like many other industries the global pest control market also experienced a slowdown, especially during the first half of 2020 due to COVID-19 pandemic. Due to lockdown restrictions and business closures, many pest control services were stopped. As more businesses reopened after the closure, the need for pest control services for commercial facilities grew. The rise in reopening of economies and surge in economic activities in the second half of 2020 has resulted in a resurgence in pest control revenue around the world. The adoption of new technologies and procedures would boost the global pest control market forward in the coming years.

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Competitive Landscape:
The global Pest control market is fragmented. However, North America pest control market is less fragmented than the global. The key players of the global pest control market are
• Rentokil Initial
• Rollins Inc.
• Terminix Global Holdings, Inc. (Terminix)
• Ecolab Inc
• BASF
• Bayer AG
• Anticimex
• Cleankill Pest Control
• Bell Laboratories, Inc.
• Dodson Pest Control

Rentokil, and more recently Anticimex, have been the most active, in part because they still lack scale in some US markets. Ecolab has a large commercial pest control business, but that comprises less than 5% of Group revenue.
Chemicals manufacturers like BASF and Bayer also have product lines oriented at pest control. Pest Control players in Asia include Japan’s Ikari and Sanix. In terms of application, Rollins and Terminix appear to be more diverse. Rollin and Terminix are mostly the US exposed.

Consolidation has been a significant part for the Pest Control sector. Because of the significant benefits from route density and the fragmented nature of the market, M&A can lead to significant margin expansion.

Scope of the Report:
The report titled “Global pest Control Market: Analysis By Methods, By Pest Type, By Application, By Region Size and Trends with Impact of COVID-19 and forecast up to 2026”, includes :
• An in-depth analysis of the global pest control market by value, by method, by pest type, by application, by region, etc.
• The regional analysis of the pest control market, including the following regions:
o North America (The US and Rest of North America)
o Europe
o Asia Pacific
o Latin America
o Middle East and Africa
• A detailed analysis of the US pest control market by value and by application.
• Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
• Provides an analysis of the COVID-19 impact on the global pest control market.
• Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall pest control market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
• Evaluation of the potential role of pest control services to improve the market status.
• Identification of new technological developments, R&D activities, and product launches occuring in the Pest Control market
• In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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This release was published on openPR.