Pest control products and services involve protection against damage caused by pests such as rodents, insects and other animals that damage properties or spread diseases. The market comprises products such as insecticides, rodenticides, trapping devices and services such as chemical, mechanical and biological control. Pest control products help protect crops, improve agricultural productivity and safeguard public health by reducing vector infestation.
The global Pest Control Products And Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising infestation issues and growing awareness regarding sanitation are primarily driving the growth of the pest control products and services market. According to the World Health Organization, vector-borne diseases such as malaria, dengue and yellow fever cause over 700 thousand deaths annually. Effective pest control helps prevent outbreak of such diseases by eliminating carriers such as mosquitoes and flies. Moreover, crop raiding pests cause extensive damage to agricultural produce. For instance, the fall armyworm causes yield losses of over US$ 6 billion annually in Africa. Pest control substances therefore help farmers safeguard their crops and boost productivity. Furthermore, increasing globalization has accelerated the introduction of invasive insect species in new regions, necessitating reliable pest eradication measures.
SWOT Analysis
Strength: Pest control products and services market has strong demand from residential and commercial customers. Many customers prefer specialized pest control services for effective pest management. There is a wide range of pest control products available for do-it-yourself pest control.
Weakness: Some pest control products contain toxic chemicals that can harm humans and environment if not used properly. Natural and organic pest control products are generally less effective compared to chemical-based products. Small pest control service providers face competition from large vendors.
Opportunity: Growth in construction industry is increasing the need for integrated pest management in new residential and commercial buildings. Natural and organic products market is growing gradually as customers seek eco-friendly solutions. There is potential to develop advanced technologies for pest control like drones, robotics and AI.
Threats: Stringent regulations regarding use of chemicals in pest control products is a challenge. Natural calamities can cause outbreak of pests posing threat to market. Low cost alternatives and do-it-yourself products reduce demand for professional pest control services.
Key Takeaways
The Global Pest Control Products And Services Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The projected CAGR of 4% will be supported by increasing construction activity and rising pest infestation worldwide.
Regional analysis - Asia Pacific region currently dominates the global market and is expected to continue its lead till 2030. Rapid urbanization and economic growth in countries like India and China are driving demand for integrated pest management. North America and Europe are other major pest control product consuming regions globally.
Key players - Key players operating in the Pest Control Products and Services market are Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo. These brands have strong distribution network and product lines. They are focusing on expanding into emerging markets and bringing innovations to cater changing customer needs. Partnerships and mergers & acquisitions are common strategies adopted by leading vendors for business expansion.
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