Press release
Rodenticide Market Expansion Outlook: $12.06 Billion in 2029
Rodenticide Market
What Is the Projected CAGR for the Rodenticide Market from 2024 to 2025?
In the past few years, there has been a significant expansion in the rodenticide market. It's projected to grow from $7.24 billion in 2024 to $7.83 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. The escalating growth during the historic period can be credited to the heightened awareness about cleanliness and hygiene, surge in demand from the hospitality and tourism sectors, expansion in construction activities, escalated damages caused by rodents, and the rising incidence of vector-borne diseases.
What are the Expected Market Size and CAGR for Rodenticide by 2029?
The market for rodenticides is anticipated to experience swift expansion in the coming years, reaching a value of $12.06 billion by 2029 and growing at an compound annual growth rate (CAGR) of 11.4%. The predicted growth during this period can be linked to factors such as the expansion of the agricultural sector, the increase in warehouse numbers, escalating urbanization, and a rise in food waste. Forecast period trends consist of the use of quick-acting rodenticides for rapid rodent elimination, launching direct-to-consumer (D2C) rodenticide channels aimed at specialized pest control firms or certified professionals due to safety issues. Market players are also concentrating on innovative product development and the creation of novel solutions to consolidate their market standing, and cultivating partnerships and collaborations to enhance their product range and geographical footprint.
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Which Factors Are Driving the Global Rodenticide Market Expansion?
The expansion of the farming sector is poised to fuel the rise of the rodenticide market. The term "agriculture industry" usually refers to businesses that concentrate primarily on cleaning, processing, storage, or the packing of a variety of products that originate from agricultural activities. In this industry, rodenticides are commonly employed to safeguard agricultural goods from rats, mice and other rodent-related pests. For example, Department for Environment Food & Rural Affairs reports disclosed in February 2024 that the mean farm business income (FBI) for all farms in the UK had increased substantially, climbing from 50461 USD (£46,500) in 2020/21 to 78133 USD (£72,000) in 2021/22. Additionally, the UK's total income from Farming (TIFF) for the year 2022 reached $6.61 billion (£7.9 billion). This represents a rise of 17% from 2021, an increase amounting to 1.43 billion USD (£1.1 billion). As such, the growth observed in the agricultural sector is a potent catalyst for the expansion of the rodenticide market.
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Which Segment Currently Holds the Largest Share of the Rodenticide Market?
The rodenticide market covered in this report is segmented -
1) By Type: Anticoagulant, Non-Anticoagulan
2) By Form: Pellet, Spray, Powder, Other Forms
3) By Application: Agriculture, Warehouses, Pest Control Companies, Other Applications
Subsegments:
1) By Anticoagulant: First-Generation Anticoagulants, Second-Generation Anticoagulants
2) By Non-Anticoagulant: Acute Toxins, Calcium Releasers
Which Major Trends Are Shaping the Future of the Rodenticide Industry?
Major players in the rodenticides marketplace are concentrating on bringing out new product innovations and adopting cutting-edge technologies such as durable solutions. These initiatives are meant to improve efficiency, safety, and eco-friendliness while meeting the evolving demands of customers and industry regulations. Durable solutions are inventive advancements made to stay relevant and effective as needs and circumstances grow. These solutions boast flexibility, scalability, and adaptability, capable of withstanding sudden transformations in markets and user needs. For instance, Syngenta, an agricultural technology firm headquartered in Switzerland, launched SecureChoice in February 2024. SecureChoice is easy to implement during construction or renovation projects and can also be retrofitted into existing structures, especially in challenging places that are often frequented by rodents.
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Which Key Players Dominate the Rodenticide Industry Globally?
Major companies operating in the rodenticide market include BASF SE, Syngenta, Bayer AG, Neogen Corporation, UPL Limited, Bell Laboratories Inc, Liphatech Inc., PelGar International, JT Eaton, Impex Europa, India Pesticides Limited, United Phosphorus Ltd, Kalyani Industries Limited, Sumitomo Chemical India Limited (SCIL), Dow AgroSciences Australia Ltd, Rentokil Initial plc, Mitsui Chemicals, TAE IL COMPANY, Sinochem International Corporation, China National Chemical Corporation, We-Young Industrial & Trading Co. Ltd., Shijiazhuang Awiner Biotech Co. Ltd, Shandong Dongtai Agricultural Chemistry Co. Ltd., Sunking Chemical Industrial Co. Ltd., Anticimex, Industrialchimica, Fregata S.A., ItalTiger, ZEP Inc, EcoClear, Senestech Inc, Arch Quimica Argentina Srl, Lectus Sa., Alexander Chemical Company, Dow Agrosciences De Colombia S.A., Brinsa S.A., BioDalia Microbiological Technologies, Ecovar Trading LLC, Al Mubarak Agro-Chemicals, VAPCO Manufacturing CO. Ltd., Kassar Group, KZ pesticides company, Enviro Bio-Chem, Synvita, Degesch South Africa
What Are the Fastest-Growing Regions in the Rodenticide Market?
North America was the largest region in the rodenticide market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rodenticide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is the Projected CAGR for the Rodenticide Market from 2024 to 2025?
In the past few years, there has been a significant expansion in the rodenticide market. It's projected to grow from $7.24 billion in 2024 to $7.83 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. The…
Agricultural Industry Expansion Fuels Growth Of Rodenticide Market Driver: Leadi …
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