Rodenticides Market is Projected to Reach $7.1 billion by 2027

The global rodenticides market is estimated to be valued at USD 5.3 billion in 2022. It is projected to reach USD 7.1 billion by 2027, recording a CAGR of 5.8% during the forecast period. The rodenticides market is driven by rapid urbanization across regions. The increase in awareness on public hygiene, the prevention of vector-borne diseases, and the rise in purchasing power parity (PPP) among the middle-class population are factors that have encouraged the demand for pest control services, globally. In addition, government initiatives for maintaining environmental hygiene are projected to drive the demand for rodenticides. For instance, the "clean-up" movement in India has proven to be a major driver for the insect pest control industry.

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Rapid Urbanization across the region

Urban areas are more susceptible to pests. In addition, a rapid increase in urbanization and industrialization is one of the major factors encouraging the demand for pest control. The shift in residences of people and their migration from rural to urban areas would contribute to the increase in the urban population. According to FAOSTAT 2018, an increase was observed in the urban population by 8% during the study period from 2015 to 2018. According to the United Nations Department of Economic and Social Affairs 2018, a significant portion of the population in North America (82%), followed by Latin America and the Caribbean regions (81%), Europe (74%), Oceania (68%), Asia (50%), and Africa (43%) is living in urban areas.

The shift of the rural population for more growth opportunities in cities has increased the burden on urban cities. These megacities have now become incubators for new epidemics and zoonotic diseases that could spread more rapidly and become a worldwide threat. Poor housing facilities arising due to increased urbanization can lead to the proliferation of insect and rodent vector diseases and geohelminthiases. This is due to inadequate water supplies as well as sanitation and waste management. These factors contribute to a favorable environment for both different rodents and insects, which carry pathogens and soil-transmitted helminth infections. For example, in Chinese cities, the incidence of Seoul hantavirus hemorrhagic fever with the renal syndrome has been linked to urban growth, an increase in the rat population, and the rise in rat-human contact.

Rapid urbanization is impacting commercial, residential, and agricultural areas significantly. The increase in urbanization has led to changes in consumer lifestyles. With the increase in workload, busy lifestyles, and the rise in the number of working women, the time to keep the working space pest-free is reduced. This has led to a surge in demand for products that offer proper pest management solutions. Rodents, such as rats. are most commonly found in kitchens due to the presence of food and food-related garbage. The increase in health and hygienic concerns of the people and the affordability of pest control practices encourage them to adopt such practices for a rodent-free environment.

Increase in the global trade of rodenticides

Germany is one of the global leaders engaged in the export of rodenticides. It is followed by India, the US, the UK, Belgium, and Italy. Germany has a presence of major chemical companies, such as Bayer AG and BASF SE, which have a wide portfolio of insect pest control products. The country is a major exporter of rodenticides to countries, such as the Netherlands, the UK, and France. These countries import rodenticides due to their high-quality standards, fewer transportation costs, and easy accessibility. India is emerging as a potential export hub for high-quality rodenticides due to low-cost manufacturing and the security of patented new active ingredients. India majorly exports rodenticides to countries, such as Brazil, the US, and the Netherlands. China is a dominant exporter of rodenticides to Southeast Asian countries, such as Vietnam, Thailand, and Indonesia. This increase in demand for rodenticides across the globe is attributed to factors, such as government initiatives for health awareness programs, an increase in crop losses, and a rise in health concerns due to rodent attacks.

The import of rodenticides is observed mainly in countries, such as India, the US, and France. Due to the increase in the population and high density, India has also been importing a large number of rodenticides. Hence, it is positioned as a leading rodenticides importer in the world. The rodenticides market in the US, France, and other countries has grown exponentially due to the rising awareness, concerns regarding health issues, ease of use, and availability of rodenticides. India is emerging as a major importer of insecticides due to the increase in demand from farmers and government health authorities for the eradication of pests.

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North America dominated the rodenticides market, with a value of USD 1,602 million in 2021; it is projected to reach USD 2,249.5 million by 2027, at a CAGR of 5.9% during the forecast period.
The regional rodenticides market of North America is dominated by the US market. In North America, the US reports the highest pest-related cases and also avails the maximum number of pest control services in the region. The population of rodents in the US is the highest, in comparison to Canada and Mexico, and the population is set to increase in the coming years due to the conducive environmental conditions.The favourable climatic conditions are also boosting this expansion of rodents population in these countries.

The key players in this market include BASF SE (Germany), Syngenta (Switzerland), Bayer AG (Germany), UPL (India), and Rentokil Initial PLC (UK).

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