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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pest control products and services help control or eliminate pests like termites, rodents and insects that can cause significant damage. They play a vital role in maintaining hygiene and public health by preventing outbreaks of diseases spread by pests. Some common pest control products include insecticides, rodenticides and others which provide a chemical solution to get rid of pests.
Market key trends:
The increasing pest infestation levels due to factors like changing climatic conditions and rising construction activities have boosted the demand for pest control products and services. Moreover, growing awareness about health impacts of pests and spread of diseases and strict food safety regulations have led more consumers and commercial establishments to adopt integrated pest management programs that utilize both chemical and non-chemical solutions for pest elimination. There is also a rising preference for eco-friendly biopesticides and other green products to control pests in a sustainable manner without harming humans and environment. Advancements in pest control technologies with the introduction of smarter products, digital monitoring systems and internet of things solutions are also transforming the industry.
Market key trends:
The pest control products and services market has been witnessing the trend of increased adoption of eco-friendly and green products for pest control. With rising awareness about health and environmental impacts of chemical pesticides, there is growing demand for bio-based and organic products. Manufacturers are increasingly focusing on development of botanical-based and natural ingredients based products like essential plant oils for pest control.
SWOT Analysis
Strength: Green and eco-friendly image of natural and bio based products enhancing consumer appeal.
Weakness: Limited effectiveness against certain pests compared to synthetic chemicals. Higher costs of R&D and production of natural products.
Opportunity: Untapped markets in developing regions with rising spending power on health and household products.
Threats: Stringent regulations surrounding use of chemicals may restrict product portfolios of major players. Competition from local and regional players.
Key Takeaways
The global Pest Control Products And Services Market Share is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing pest infestations in both residential and commercial establishments amid rapid urbanization. Regionally, the Asia Pacific market is expected to grow the fastest over the coming years led by countries like India and China owing to their large populations and tropical climate prone to pest problems.
The global market size for pest control products and services was estimated at US$ 23.78 Bn in 2023. Residential sector dominates the end use segment and is expected to continue its lead with rising home ownership rates globally.
Key players operating in the pest control products and services market includes 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 players are focusing on new product launches with natural active ingredients and acquisition strategies for business expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it