Rodenticide Market to Reach $7.71 Billion by 2030
The Global Rodenticide market is expected to reach $7.71 billion by 2030, according to a new report from Reports and Data. The market is experiencing a surge with urbanization and industrialization, which has created a demand for pest control, owing to an increase in the population of commensal rodents. The flourishing agricultural sector in emerging countries has led to high consumption of various pesticides to increase productivity. This factor is expected to fuel the growth of the market.
The migration of people from rural areas to urban centers due to urbanization, along with the reduction of arable land, increases the increase in rodent population in urban areas. This establishment leads to the movement of rats from their places to living areas. This created the need to use rodenticides to eliminate these rodents. Moreover, the increasing awareness of the people and the awareness of hygiene and health have also triggered the use of rodenticides. The survival of rodents in a warmer climate due to an increase in temperature and global warming has resulted in an increase in the rodent population, which in turn accumulates rodenticide growth.
Government initiatives to meet food needs are improving the agricultural sector. This means the heavy use of rodenticides. The agricultural sector is booming with new advancements creating a demand for natural rodenticides. Nevertheless, the strict regulations and policies imposed by the government in the production of rodenticides may limit the growth of the rodenticides market.
North America is dominating the market with an increasing number of rodent attacks and hence due to the demand for rodenticides over the forecast period. Government initiatives for high quality food and growing need for bio-rodenticides in the United States accounted for the largest market share. The Asia-Pacific region is expected to experience the highest growth rate due to increasing population and a rapidly growing agricultural sector in India and China.
The impact of COVID-19:
The emergence of COVID-19 has posed different challenges for service companies to meet changing needs. This health crisis has had an unprecedented impact on different demand-driven businesses. The market is expected to grow significantly with the corona isolation. Migration of people through urban centers can increase rodent activity. This will drive the demand for rodenticides in the near future. However, during these unusual times, when commercial outlets and businesses may be closed, the risk of infestation may be higher. In addition, people’s growing awareness of precautions and hygiene and health awareness has increased the use of rodenticides. Manufacturers are engaged in research and development of active ingredients for good quality products to meet growing needs. To increase regional presence, companies focus on tapping into an unexplored market.
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Other key findings from the report suggest
- By type, anticoagulants segment held the largest market share in 2019 due to inability of blood clotting factors in rodents compared to non-anticoagulants. In the United States, approximately 95.0% of chemical rodent control is performed using anticoagulants.
- By mode of application, the powder is expected to register stagnant growth during the forecast period as the use of such modes in the air may harm animals and humans for ventilation.
- According to the end-use, the agriculture segment is expected to occupy the highest share in 2027. An increase in the devastation of grains and crops by rodents as well as damage to agricultural equipment is expected to drive the growth of the segment in during the forecast period.
- North America is an important market for rodenticides. An increase in the number of residential areas and increasing rodent damage to agricultural fields will drive the demand for rodenticides in this region. However, Asia-Pacific is expected to experience substantial growth with urbanization and robust population growth creating demand for food safety, thereby driving demand for rodenticides.
- Manufacturers are captivated with various mergers and acquisitions and product developments to increase their market share. For example, in November 2017, Rentokil Initial plc acquired Vector Disease Acquisition, LLC, to expand its presence in North America.
- Major participants are BASF SE, Bayer AG, Syngenta International AG, SenesTech, Inc., IMPEX EUROPA SL, Neogen Corp., Liphatech, Inc., UPL Ltd., Pelghar International, Reckitt Benckiser Group PLC, JT Eaton, Bell Labs Inc. , and Rentokil Initial, PLC, among others.
- In April 2018, BASF (USA) launched the Voietra Rodent Bait, an innovative soft bait formulation for Pest Management Solutions. This product is a rodenticide based on cholecalciferol, which helps professionals, poultry farmers and breeders to control rodents.
For the purposes of this report, the reports and data have segmented the global rodenticides market on the basis of type, mode of application, end-user and region:
Type Outlook (Revenue, USD billion; 2019-2030)
- Non-blood thinners
- Anti coagulants
- First generation anticoagulants
- Second generation anticoagulants
Application Mode Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- agricultural fields
- Urban centers
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
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