Pest Control Market was valued at $16,883 million in 2017 and is projected to reach
$ 24,397 million by 2024, growing at a CAGR of 5.4% from 2018 to 2024. North
America is one of the prominent consumers of pest control and held nearly half
of the total market in 2017.
Pest control is the
management of species or pests that are considered harmful to human health.
Pest control is done in a wide range of applications such as agriculture,
commercial buildings, residential buildings, and industries. It is beneficial
to protect the crops from pests so as to increase the food production. House
flies have a tendency to hoard at places close to human activities, especially
at places where food waste is uncovered.
In 2017, North
America accounted for approximately half share of the total pest control market
and is expected to continue its dominant position during the forecast period.
The Asia-Pacific pest control market is anticipated to grow at the highest
CAGR, specifically in China, India, and the other developing countries. Rise in
agriculture and industrial sector is the major reason for the growth of the
market in the Asia-Pacific.
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The key players
profiled in the report include
·
Rentokil Initial
PLC
·
BASF SE
·
EcoLab Inc.
·
Syngenta AG
·
National Pest
Control
·
Rollins Inc. LLC
·
Lindsey Pest
Control
·
Bayer AG
·
FMC Corporation
·
Rollins Inc.
Increase in pest
population, changes in climatic conditions, and awareness among consumers
pertaining to the health hazards caused by the pests is anticipated to drive
the global pest control market during the forecast period. The market is
characterized by the presence of large number of service providers. Hence, easy
availability of this service is also anticipated to drive the growth of the
global pest control market. However, pest control is a highly fragmented market
and hence poses a threat for the large players. Moreover, frequently changing
environment regulations is also anticipated to restrain the growth of the
market during the forecast period.
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Insects are expected
to maintain dominance in the global pest control market during the forecast
period. However, termites are anticipated to gain traction in the near future.
Changes in climatic conditions is anticipated to drive the growth of this
segment in the near future. In 2017, insects and termites collectively
accounted for approximately three-fifths share in the global pest control
market.
Commercial
application segment is anticipated to remain dominant in the global pest
control market during the analysis period. In 2017, commercial and residential
application segments collectively accounted for more than half share in the
global pest control market. Agriculture application segment is anticipated to
expand at the highest CAGR during the forecast period.
Key Findings of the
Pest Control Market:
- In
terms of value, the insects segment is expected to grow at a CAGR of 4.7%
during the forecast period.
- North
America is projected to maintain its lead position throughout 2024,
growing at a CAGR of 5.2%, in terms of value. Asia-Pacific is anticipated
to witness the highest growth during the forecast period.
- Commercial
and residential application segment is estimated to collectively occupy
more than half share of the total market by 2024.
- China
is expected to occupy more than half of the total Asia-Pacific pest
control market by 2024.
- In
the global pest control market, India is expected to grow at a CAGR of
5.4%, in terms of value, from 2018 to 2024.
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