Rodenticides Market 2022 SWOT Analysis, Key Development

According to Precision Business Insights (PBI) latest report, the rodenticides market is expected to be worth USD 5,385.7 million in 2022, growing at a 5.4% CAGR from 2022 to 2028. Growing rat populations significantly contribute to the prevalence of contagious illnesses like the plague, hantavirus infection, and Lassa fever, which in turn impact the environment, wildlife, and people. This has increased the use of several rodent control solutions in industrial, residential, and commercial settings. In most major cities worldwide, there is a considerable need for rodent control goods. To effectively reduce the rodent population, market participants actively develop new products. In the coming years, it is anticipated that an increase in the number of workplaces, hospitals, hotels, and residences, as well as a preference for high hygiene standards, would drive demand.

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Agriculture Segment to Dominate the Rodenticides Market:
The agriculture segment is expected to account for a larger revenue share in the global rodenticides market, with a value share worldwide. It is projected to grow at a 5.6% CAGR between 2022 and 2028. Over the projection period, demand will likely be driven by increased rat damage to field crops, farm machinery, and stored grains worldwide. The most significant challenges to protecting the world's food supply come from rodents. Over the previous few years, various countries have experienced agricultural and food loss.

Asia Pacific Rodenticides Market:
The Asia Pacific market is expected to increase in the global rodenticides market over the forecast period. It is projected to grow at a CAGR of 6.2% in the coming years. Significant contributors to rat infestation in the area are unusual meteorological circumstances such as floods, severe rainfall, and cyclones. Additionally, the availability of better than typical food supplies in agricultural fields gives rats a better breeding environment, boosting their population. Over the projected period, these factors are anticipated to fuel demand for efficient pest management methods.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global rodenticides market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

The rodenticides market is segmented based on type, mode of application, end-use, rodent type, and geography.
Based on the type, the market is segmented into the following:
• Anticoagulant Rodenticides
• Non-Coagulant Rodenticides

Based on the mode of application, the market is segmented into the following:
• Pellet
• Spray
• Powder

Based on the end user, the market is segmented into the following:
• Agriculture
• Pest Control Companies
• Warehouses
• Urban Centers
• Household

Based on the rodent type, the market is segmented into the following:
• Rat
• Mice
• Chipmunk
• Hamster
• Other Rodents

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the rodenticides market report are BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), UPL Limited (India), Neogen Corporation (US), Anticimex (Sweden), Ecolab Inc. (US), Rentokil Initial PLC (UK), Senestech, Inc. (US), and Rollins, Inc. (US).

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This release was published on openPR.