Press release
Pest Control Products and Services Market - Global Upcoming Trends, Growth Drivers, Opportunities and Challenges
Prime factors powering the demand for pest control products and services are rapid expansion of the urban population across the globe, growing consumer awareness concerning health and hygiene, prevalent weather conditions supporting insect growth, rapid increase in lifestyle expenditures, and rising international tourism. Increase in economic activities across the globe is also a positive factor favoring the growth of the global pest control products and services market. The implementation of stringent government regulations to limit the levels of chemical toxicity and restrict the use of highly toxic pesticides to reduce their hazardous impact on public health and environment is one of the major restraints for market growth.The global pest control products and services market is slated to increase at an impressive CAGR of 7% over the next ten years, expanding more than twofold in the process.
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Key Takeaways from Global Pest Control Products and Services Market Study:
The insecticides product type segment is expected to gain significant market share by 2030, and is estimated to increase 1.7X in terms of value by the same years. The chemical control service type segment is expected to continue to remain the most dominant segment in the market till the end of 2030.
The insect control application segment leads the other by far, with a projected 1/3 market share in the year 2020.
The residential end user segment holds a larger share at the moment, but will be overtaken by the commercial segment during the forecast period.
North America held the largest share in the global pest control products and services market in 2019, and will continue to do so through 2030. The market in East Asia is expected to expand at a higher CAGR during the forecast period.
pest control products and services market
"The COVID-19 outbreak has heightened the need for hygiene ever so much, proving to be a blessing for the pest control products and services market space. Also, when things open up completely after current lockdowns, they would need to be disinfected thoroughly after being locked up for months, which will further surge market growth," says a PMR analyst.
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Global Pest Control Products and Services Market: Competition Analysis:
The global pest control products and services market report profiles some of the leading companies functional in the market landscape. Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Brothers Exterminating Company Incorporated, Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions LLC, and Univer Inc. are the top market players featured in the global pest control products and services market report. Some of these companies are focusing on expanding their geographical presence through operational expansion and strategic mergers and acquisitions.
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More Valuable Insights on Pest Control Products and Services Market:
Persistence Market Research released a new market research on the pest control products and services market, covering global industry analysis of 2015-2019 and forecasts for 2020-2030. The pest control products and services market study reveals compelling insights on the basis of type, application, end user, and region.
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