Rodenticides Market Will Projected to Worth USD 7.71 Billion at a CAGR of 5.3% By 2030 | Reports and Data
The global Rodenticides market is forecast to reach USD 7.71 Billion by 2030, according to a new report by Reports and Data. The market is gearing a surge with urbanization and industrialization, which has created a demand for pest control, owing to an increase in the population of commensal rodents. The flourishing agricultural sector in emerging nations has led to the high consumption of various pesticides to gain high productivity. This factor is anticipated to fuel the market growth.
The migration of people from the rural areas to urban centers due to urbanization, and also reduction of arable land is augmenting the increase in rodent population for urban areas. This settlement is resulting in the displacement of rats from their places to housing areas. This has created the need for using rodenticides to abolish such rodents. Moreover, the increasing awareness among people and the consciousness towards hygiene and health also triggered the use of rodenticides. Survival of rodents in a warmer climate due to an increase in temperature and global warming has led to a surge in the rodent population, which, in turn, accumulates growth for Rodenticides.
Top Companies Operating in the Global Rodenticides Market:
BASF SE, Bayer AG, Syngenta International AG, SenesTech, Inc., IMPEX EUROPA S. L., Neogen Corp., Liphatech, Inc., UPL Ltd., Pelghar International, Reckitt Benckiser Group PLC, JT Eaton, Bell Labs Inc., and Rentokil Initial, PLC
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Further key findings from the report suggest
- By type, the anticoagulant segment held the largest market share in 2019 due to the inability of blood clotting factors in rodents seen against non-anticoagulants. In the US, about 95.0% of the chemical control of rodents done using anticoagulants.
- By mode of application, the powder is expected to register a stagnant growth in the forecast period because the use of such modes in the air may harm animals and humans for ventilation.
- By end-use, the agriculture segment is projected to occupy the highest share in 2027. An increase in devastation to grains and crops by rodents and also damage made to farm equipment is likely to drive segment growth over the forecast period.
- North America is a major market for rodenticides. An increase in the number of residential areas and growing damage by rodents to agricultural fields will drive demand for Rodenticides in this region. However, Asia Pacific is projected to experience substantial growth with urbanization and a robustly growing population creating a demand for the safety of foods, thus boosting the demand for rodenticides.
- Manufacturers are captivated in various mergers and acquisitions and product developments to expand their market share. For example, in November 2017, Rentokil Initial plc acquired Vector Disease Acquisition, LLC, to expand its presence in North America.
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The Rodenticides market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Rodenticides market.
The global Rodenticides market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Type Outlook (Revenue, USD Billion; 2019-2030)
- First-generation Anticoagulants
- Second-generation Anticoagulants
Mode of Application Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Agricultural Fields
- Urban Centers
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Key Attentions of Rodenticides Market Report:
The report offers a complete and broad perspective on the global Rodenticides Market.
The market statistics depicted in the various Rodenticides Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Rodenticides Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Rodenticides Market dynamics.
Major players, Rodenticides Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Rodenticides Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Rodenticides Market progress are detailed in this report.
The upstream and downstream components of the Rodenticides Market and a complete value chain are explained.
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