Press release
Global Pest Control Market Size to Grow at a CAGR of 5% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5%
The global pest control market is expected to register growth during the forecast period on account of the growing urban population along increasing infestations and intolerance for pests. The changing climate is likely to spur market growth across the globe with surging demand for pest control services.
The surging usage of pest control for food safety across worldwide food supply chains is likely to boost market growth over the upcoming years. The strict regulations regarding food safety is a key aspect that is anticipated to influence food manufacturers to improve their production processes and environments to ensure food quality and safety. This is further expected to bolster the pest control market across the globe during the coming years.
The growing adoption of trending technologies like artificial intelligence is likely to propel the market growth enabling pest control in remote and difficult-to-access locations without disrupting operations. Thus, the demand for digital pest control solutions is likely to expand significantly over the upcoming years.
Moreover, the growing changes in habits of consumers like online shopping, have increased the usage of automation in the supply chain. Where there are less humans around to notice pest infestations or deter pests, pests flourish like mice and rats. Thereby, pest control producers are embracing smarter and greener pest control solutions.
Industry Definition and Major Segments
Pest control refers to the processes and methods that are used to control the presence of undesirable organisms such as insects, rodents, and wildlife. Such pests spread diseases and damage crops, operations, equipment, and other facilities. Due to the fast pace of spread of pests, regular pest control is necessary to remove them from premises and keep them away.
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Based on pest type, the market is segmented into:
• Insects
• Termites
• Rodents
• Wildlife
• Others
By control method, the market is classified into:
• Mechanical
• Biological
• Chemical
• Others
Based on mode, the market is categorised into:
• Powder
• Spray
• Traps
• Baits
By applications, the market is classified into:
• Commercial
• Residential
• Industrial
• Agriculture
• Others
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Market Trends
Geographically, the North America region is expected to witness significant growth in the pest control market share over the forecast period on account of the increase in awareness regarding harmful effects on health and financial losses due to pests. The rapid growth in construction activities in the residential and commercial sectors, especially in countries like the United States and Canada, is further aiding the market growth of pest control.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the pest control market growth on account of the rapid urbanisation in emerging countries like China and India. The increase in consumer expenditure along with a rise in awareness regarding the harmful effects of pests is further expected to enhance the market growth in the region over the coming years.
Key Market Players
The major players in the global pest control market report are:
• Anticimex International AB
• BASF SE
• Bayer AG
• Syngenta Crop Protection, LLC
• Rollins, Inc.
• Rentokil Initial plc
• Dodson Pest Control, Inc.
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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