Insect Pest Control Market Competitive Dynamics & Global Outlook 2021-2026

The global insect pest control market size is estimated to be valued at USD 12.3 billion in 2021 and projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1% during the forecast period. Various factors have played a major role in driving the market growth across the globe.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26785207

Drivers: Impact of climate change on insect proliferation

According to the "Public Health Significance of Urban Pest" publication by the WHO, climate change would result in an increase in the population of flying insects. There would be an increase of 244% in fly populations by 2080, according to the statement provided by the WHO. According to the Centre for Agriculture and Bioscience International, the Asian tiger mosquito, mainly found in Asian countries such as India, Indonesia, Malaysia, Myanmar, Nepal, Taiwan, Thailand, and Vietnam, had spread quickly to 28 countries in the past 10 years.

Restraints: Interminable time for regulatory approval of products

Strict and rigorous regulatory requirements in the environmental protection sector are applicable to the manufacturers' production processes and their production environments. Moreover, these vary with the policies of each country. The usage of insect pest control products is subject to registration by health, environmental protection, and insect pest control agencies in various countries. Governments evaluate the policies related to the purchase, registration, formulation, application, and disposal of insecticides. The nature of government policies affects the demand and prices of insect pest control products

Opportunities: Adoption of IoT and AI-based technologies in insect pest control

The adoption of AI and IoT in insect pest control has enhanced the effectiveness and efficiency of insect pest control by integrating an array of tools such as chemical pesticides, biological agents (predators and microbial), light traps, and synthetic pheromones. This cumulative formulation is popularly called Integrated Pest Management (IPM). The adoption of various trending technologies, such as AI, has been on the rise due to the low service cost and its operation in remote and difficult-to-access locations continuously without interrupting the operation of the facility

Challenges: Development of resistance among insects against chemical compounds

Even though insects are effectively controlled by the application of chemicals, these insect species have the ability to develop resistance to insecticides when exposed to a larger dose of these active ingredients frequently. For instance, flies are known to have developed high resistance against all types of insecticides due to the improper handling of pesticides. According to the Center for Integrated Pest Management, over 600 species of pests have developed resistance to chemical compounds.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=26785207

North America is projected to account for the largest market during the forecast period

The North American insect pest control market has been experiencing significant growth. The US acquired the largest share of the North American insect pest control market. According to the Centers for Disease Control and Prevention (CDC), between 2004 and 2016, more than 640,000 cases of insect-borne diseases were reported in the US. Additionally, during this period, nine new germs spread by bites from infected mosquitoes and ticks were discovered or introduced in the US. As a result, the demand for effective insect pest control methods has significantly increased in recent years.

Key players are BASF (Germany), Bayer (Germany), FMC Corporation (US), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), Rentokil Initial Group (UK), Ecolab (US), Rollins, Inc. (US), Terminix (US), Adama (Israel).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.