The global”pest control products market”size is slated to enter a period of exponential growth owing to rising spread of diseases by vectors worldwide, postulates Fortune Business Insights™ in its report, titled “Pest Control Products Market Size, Share and Industry Analysis, By Pest Type (Insects, Rodents, Termites, Others), By Mode of Application (Traps, Sprays, Baits), By Application (Commercial, Residential, Industrial) and Regional Forecast, 2019-2026”. Tropical countries, where the climate is usually humid and hot for most part of the year, are hotbeds for vectors such as mosquitoes and ticks and therefore have the highest prevalence of vector-borne diseases. For example, in its latest findings, the World Health Organization (WHO) reported that India and 19 Sub-Saharan African countries carried 85% of the global burden of malaria. The global burden of dengue has also increased dramatically in recent years, the WHO notes, with an estimated 100 million to 400 million cases being reported every year worldwide. The demand for pest control products is thus skyrocketing as countries, especially emerging economies, are taking determined efforts to improve community health and public welfare.
List of Companies Profiled in the Pest Control Products Market Report:
- PelGar International
- Bayer CropScience
- Truly Nolen
- BASF SE
- Atalian Servest
- Syngenta AG
- FMC Corporation
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- Holistic insights into the market drivers, opportunities, and restraints;
- comprehensive analysis of the regional dynamics and competitive milieu shaping the market; and
- Detailed study of each individual segment of the market.
Severe Economic Losses Caused by Pest Attack on Crops to Boost Product Demand
The pest control products market growth is likely to get boosted in the coming years owing to widespread economic losses caused by sudden attacks by pests on agricultural fields and crops. The UN Food and Agriculture Organization (FAO) estimates that plant diseases lead to monetary losses of approximately USD 220 billion every year, with pests damaging between 20% and 40% of global crop production. Regional losses caused by pest infestation are even more staggering. In Africa, for example, the oriental fruit fly is known to attack fruits such as banana, mango, and guava, which has compelled many developed nations to ban imports from Africa, leading to estimated yearly losses of approximately USD 2 billion to the continent. In the US, the bacteriaXylella fastidiosaon average causes losses worth USD 104 million annually for wine producers in California. Pest control products such as pesticides and insecticides play a key role in preventing such infestations and thus help reduce economic burden of pest attacks.
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High Incidence of Pest-borne Diseases to Accelerate Growth in Asia Pacific
Asia Pacific is expected to register the fastest growth among regions in the near future owing to high prevalence of vector- and pest-borne diseases such as malaria and dengue in the tropical countries. Moreover, the region is heavily reliant on agriculture for economic development, as a result of which the adoption of pest control products is widespread in the developing nations of this region.
North America is anticipated to dominate the pest control products market share, mainly on account of strong presence of pest solutions and services providers in the region. Additionally, advanced farming practices in the region have encouraged farmers in the region to adopt sophisticated pest management technologies, which bode well for this market.
Key Players to Focus on Innovative Product Developments
The top growth strategy adopted by key players in this market is to bring about innovative developments in their existing product lines as well as design novel agrochemical solutions. Additionally, companies are concentrating on strengthening their ground-level distribution channels to further deepen their foothold in the market.
- July 2020:UK-based Rentokil Initial released PestConnect, the company’s new integrated pest management solution. PestConnect will use infrared beams and sensors to digitally monitor interiors and exteriors of facilities 24/7, alerting Rentokil specialists to respond quickly in case infiltration by any pest.
- June 2019:Bayer entered into a distribution deal with AlphaBio Control to market AlphaBio’s biological pest product called “Flipper™”. Under the agreement, Bayer will have exclusive global rights to commercially distribute Flipper for agricultural and non-agricultural purposes, except in France.
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