Pest Control Market Trends, Share, Industry News, Growth Drivers, and Forecast up to 2028
The global pest control market is projected to reach $32.8 billion by 2028 from an estimated $24.9 billion in 2023, at a CAGR of 5.7% during the forecast period in terms of value. Several important factors are augmenting the demand for pest control products and services on a global scale. Increasing awareness of the health risks posed by pests and the diseases they can transmit is driving individuals and businesses to prioritize pest prevention and control. This heightened concern for health and hygiene fuels the demand for pest control services. Moreover, advancements in pest control technologies and methods have improved the efficacy, precision, and sustainability of treatments, making them more appealing to consumers.
1. Integrated Pest Management (IPM): There was a growing emphasis on sustainable and environmentally friendly pest control methods. IPM, which combines biological, cultural, physical, and chemical control strategies, was gaining popularity as a holistic approach to pest management.
2. Rise in Eco-Friendly Products: Consumers were showing a preference for eco-friendly and natural pest control products. This demand was driving innovation in the development of biological pesticides and non-toxic solutions.
3. Urbanization and Increased Population Density: With more people living in urban areas, there was a higher demand for pest control services. Urbanization creates environments conducive to pest infestations, leading to an increased need for effective pest management solutions.
4. Stringent Regulations: Governments were implementing stricter regulations on the use of certain chemical pesticides to address environmental and health concerns. Pest control companies were adapting by developing and offering products that comply with these regulations.
5. Globalization and Market Consolidation: The pest control industry was experiencing globalization and consolidation, with larger companies acquiring smaller regional ones. This trend was driven by the need for expanded service capabilities and a broader market reach.
6. Residential Pest Control Services: The residential sector was witnessing an increased demand for pest control services, with homeowners seeking regular maintenance to prevent infestations.
North America is expected to have the largest market share during the forecast period.
The market for pest control is growing in North America owing to the widening scope of applications in not only residential or commercial but also in livestock and for industrial purposes, such as in the food and pharmaceutical industries. The pest control market in North America is experiencing notable growth owing to a convergence of factors. Moreover, there are numerous companies in North America providing pest control products and services. Apart from major players, there are many local players in the market. The presence of numerous pest control companies in the region also indicates that there is high demand for the pest control management. Stringent regulations in industries such as food safety and hospitality further bolster the market’s expansion. Innovations in pest control technologies, including eco-friendly solutions and integrated approaches, enhance efficacy and appeal to environmentally conscious consumers.
The key players in this include Bayer AG (Germany), Corteva Agriscience (US), BASF SE (Germany), Sumitomo Chemical Co. Ltd. (Japan), Syngenta AG (Switzerland), Rentokil Initial plc (UK), Anticimex (Sweden), Rollins, Inc. (US), ATGC Biotech Pvt Ltd. (India), Ecolab Inc. (US), FMC Corporation (US), De Sangosse (France), Bell Laboratories (US), PelGar International (UK), and Fort Products Limited (UK). Companies are emphasizing on expanding their production facilities by entering into partnerships and agreements as well as by launching new products to grow their businesses and their market shares. New product launches because of extensive research & development (R&D) initiatives, geographical expansion to tap the potential of emerging economies, and strategic acquisitions to gain a foothold over the large extent of the supply chain are the key strategies adopted by companies in the pest control market.
Pest Control Market Industry News
1. In June 2023, Bayer AG’s agricultural division Bayer CropScience partnered with Crystal Crop Protection Ltd. to develop and launch groundbreaking solutions for pest control that are aimed at benefiting paddy growers across India. This partnership indicates a critical turning point in the quest to improve rice farmer yields and crop protection techniques in India.
2. In June 2023, Corteva Agriscience opened a combined crop protection and seed research laboratory in Eschbach, Germany. This research centre would help the company in driving innovation and deliver sustainable solutions for farmers. The expansion would also enable the company to conduct state-of-the-art crop protection studies to help develop solutions which protect crops from pests and diseases, thus boosting the pest control market.
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