Pest Control Products and Services Market Projected to Reach US$...

Pest Control Products and Services Market Projected to Reach US$ 32.8 Billion by 2022

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Posted 2023-09-22 13:07:17

Market Overview:
The global Pest Control Products and Services Market is estimated to be valued at US$ 22.4 billion in 2021 and is expected to exhibit a CAGR of 6.15% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Pest control products and services are essential to manage and eliminate pests such as insects, rodents, termites, and others that pose health risks and cause damage to property. These products and services offer effective solutions to control and eradicate pests, ensuring the safety and well-being of individuals. With the increasing prevalence of pests and the growing awareness about the importance of pest management, the demand for pest control products and services is anticipated to witness significant growth in the coming years.

Market key trends:
Integrated Pest Management (IPM) is a key trend in the pest control products and services market. IPM is an effective approach that combines different pest control methods to manage pests in a sustainable and environmentally friendly manner. This approach emphasizes the use of non-chemical methods, such as biological control, habitat manipulation, and cultural practices, to prevent and control pests. IPM focuses on minimizing the reliance on chemical pesticides, reducing the environmental impact, and promoting the use of alternative pest control solutions. As consumers increasingly prioritize eco-friendly and sustainable practices, the adoption of IPM is expected to grow, driving the demand for pest control products and services that align with this approach.
Segment Analysis:

The Pest Control Products and Services Market can be segmented into two main categories: products and services.

In terms of products, the dominating sub-segment is insecticides. Insecticides are the most widely used pest control products due to their effectiveness in eliminating insects such as mosquitoes, flies, and ants. Additionally, the increasing prevalence of vector-borne diseases, such as dengue fever and malaria, has led to a rising demand for insecticides worldwide. With the growing awareness about the importance of pest control and hygiene, the insecticides segment is expected to witness significant growth in the coming years.

On the other hand, in terms of services, the dominating sub-segment is termite control. Termites are one of the most destructive pests, causing extensive damage to properties and structures. The demand for termite control services is driven by the need to prevent and eliminate termite infestations, especially in residential and commercial buildings. Moreover, the increasing urbanization and construction activities in emerging economies have contributed to the growth of the termite control services market.

Key Takeaways:

The global Pest Control Products And Services Market Growth is expected to witness high growth, exhibiting a CAGR of 6.15% over the forecast period from 2023 to 2030. This growth is primarily driven by the increasing awareness about the importance of pest control in maintaining hygiene and preventing the spread of diseases. Additionally, the rise in urbanization and construction activities in developing economies has led to a higher demand for pest control products and services.

In terms of regional analysis, North America is the fastest-growing and dominating region in the Pest Control Products and Services Market. This can be attributed to the high prevalence of pest-related issues, stringent regulations regarding pest control, and the presence of key players in the region. Moreover, the increasing adoption of integrated pest management practices and the growing demand for organic pest control solutions are further fueling the market growth in North America.

Key players operating in the Pest Control Products and Services Market include Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. These key players focus on strategic collaborations, product innovation, and geographic expansion to gain a competitive edge in the market.