The pest control market is estimated at USD 20.5 billion in 2019 and projected to grow at a CAGR of 5.04% to reach USD 27.5 billion by 2025

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Apr 30, 2019, 20:31 ET

NEW YORK, April 30, 2019 /PRNewswire/ -- The pest control market is projected to grow at a CAGR of 5.04%; the key drivers include the growing instances of disease outbreaks driving public health initiatives and the effects of climate change on pest proliferation

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The pest control market is estimated at USD 20.5 billion in 2019 and projected to grow at a CAGR of 5.04% to reach USD 27.5 billion by 2025. The growth of the pest control market is driven by the advancements in insecticide formulations and increased urbanization activity and the creation of megacities, which has had a profound impact in demand for pest control. The continuous and extensive use of chemical compounds to eliminate or reduce pest infestation has led to the development of resistance among pests to conventional pest control products. This resistance can be classified into metabolic resistance, target-site resistance, penetration resistance, and behavioral resistance.

The insects segment, by pest type, dominated the market with the largest share in 2019.
On the basis of pest type, the pest control market is classified into insects; rodents; termites; wildlife; and others, which include birds, reptiles, and mollusks.Insects are a part of arthropod phylum and are classified as hexapod invertebrates.

Insects primarily comprise a chitinous exoskeleton, which consists of a three-part body.There are more than a million described species of insects; about 90% of all animal forms on earth are insects.

Insects such as mosquitoes, ants, cockroaches, and tiny moths destroy household materials and may cause ill-effects on the human body. Insects cause irritation to livestock or humans and can be vectors of plant or livestock diseases.

The chemical methods segment accounted for the largest share in 2019.
Based on the control method used by pest management professionals, chemical control methods are observed to hold the dominant share in the pest control market.Chemical control is based on substances that are toxic or poisonous to the pests.

Chemical pesticides are used to control pests and diseases caused due to pests.The use of chemical pesticides is widespread due to their relatively low cost; simplicity of application; effectiveness; availability; and stability.

The use of chemical pest control solutions is to be carried out by a licensed service provider and a trained technician who is aware of the products' effects on the surrounding environment.

The residential segment, by application, holds the dominant market share in the pest control market.
Based on application, the residential segment is projected to hold the largest market share between 2019 and 2025.The residential segment is projected to exhibit a strong potential for pest control service providers; this potential is mainly driven by the middle-class population and the increased purchasing power parity of people.

The increasing population density, climate change, and growing economic activities can lead to a lack of resources and amenities to avert or reduce pollution risks. In addition, improper sanitary procedures and inefficient implementation processes for public health hygiene are projected to cause health risks in the residential sector.

High growth is projected in the Asia Pacific pest control market.

The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the large-scale urbanization and the increasing need for pest control in the megacities of China and India. In addition, service providers and pesticide suppliers are looking toward the Asia Pacific region due to the increasing pest awareness among consumers and are seeking to expand their influence in the markets through joint ventures and acquisitions.

Break-up of Primaries:
• By Company Type: Tier 1 - 65 %, Tier 2 - 25%, and Tier 3 - 10%
• By Designation: D-Level - 40%, C-Level - 20%, and Others* - 40%
• By Region: Asia Pacific – 46%, North America - 19%, Europe - 12%, %, South America – 11% and RoW** - 12%

*Others include sales managers, marketing managers, and product managers.
**RoW includes South American and the Middle East.

Leading players profiled in this report:

Pesticide Suppliers:
• Bayer Cropscience (Germany)
• Syngenta AG (Switzerland)
• BASF(Germany)
• FMC Corporation (US)
• Sumitomo Chemicals Co. Ltd. (Japan)
• ADAMA (Israel)
• DowDuPont (US)
• PelGar International (UK)
• Bell Laboratories Inc. (US)

Service Providers:
• Rentokil Initial Plc (UK)
• The Terminix International Company LP (US)
• Rollins Inc. (US)
• Ecolab (US)
• Truly Nolen (US)
• Atalian Servest (France)

Research Coverage:
The report segments the pest control market on the basis of control method, pest type, application, mode of application, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global pest control, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
• To get a comprehensive overview of the pest control market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
• To gain insights about the major countries/regions in which the pest control market is flourishing

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