(I-BusinessNews.Com, July 21, 2020 ) The global rodenticides market size is estimated to account for a value of USD 4.9 billion in 2020 and is projected to grow at a CAGR of 5.0% from 2020, to reach a value of USD 6.6 billion by 2026. The impact of climate change on rodent proliferation alongside the increasing damage by infestation of rodents are some of the factors driving the growth in the market.
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Driver: Impact of climatic changes on rodent proliferation
The changing climatic conditions are of significant importance in the market, as global warming leads to the change in the population dynamics of rodents and their ecosystems, as rodents breed prominently more in warmer climates. The proliferation of rodent population is related to climatic changes, which is a major international public health concern. Hantavirus infection is increasingly sensitive to climatic conditions. Rodent population responds more rapidly to favourable weather conditions, such as heavy rainfall, which could directly or indirectly proliferate rodent-borne pathogens, such as spirosis, a zoonotic bacterial disease, with an unknown, but probably high human and veterinary prevalence.
Constraint: Stringent regulations and the ban on the use of rodenticides in developed countries
The usage of rodenticides is subject to registrations by health, environmental protection, and pest control agencies in various countries. Governments evaluate the policies related to the purchase, registration, formulation, application, and disposal of pesticides. The nature of government policies affects the demand and prices of rodenticides. According to Rentokil, the use of rodenticides as control and preventive methods have been restricted in many European and North American countries.
Asia Pacific is projected to grow at the highest CAGR during the forecast period
The market for rodenticides is projected to grow at the highest CAGR in the Asia Pacific region owing to the increase in awareness of the effectivity of chemical rodenticides. As the world’s largest and most populous region, Asia Pacific is one of the key markets for rodenticides. Rodents are common pests present in agricultural fields. Annually, extensive volumes of agricultural produce are destroyed and contaminated by rodents. To meet the increase in demand for food products and to reduce the crop damages caused by rodents, the use of rodenticides has increased significantly in the region. Food retail, food manufacturing, pharmaceutical, hospitality, and residential sectors are projected to be major growth verticals in this market.
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This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the rodenticides market. It consists of the profiles of leading companies such as Bayer AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Rentokil Initial Plc (UK), Ecolab Inc (US), Rollins Inc (US), UPL Limited (India), Anticimex (Sweden), The Terminix International Company (US), Liphatech Inc (US), Neogen Corporation (US), PelGar International (UK), Bell Laboratories Inc (US), JT Eaton (US), Truly Nolen (US), Abell Pest Control (Canada), Futura Germany (Germany), SenesTech Inc (US), Bioguard Pest Solutions (US) and Impex Europa S.L (Spain).
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