(I-BusinessNews.Com, January 30, 2020 ) The report Rodenticides Market to grow from USD 4.7 billion in 2019 to USD 5.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period. The major factors that are expected to be driving the rodenticides market are increasing rodent population and increasing damage due to rodent attacks alongside opportunities such as development of non-toxic and third-generation anticoagulants, increasing government initiatives for rodent control.
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Driver: Increasing damage due to rodent attack
Rodents can cause damage in various ways in the form of structural damage to buildings, building nests inside ducts, and gnawing of furniture in commercial and residential spaces. Moreover, all the crops grown for human and animal food are prone to damage by rodents. They destroy crops, particularly, cereals such as rice, wheat, barley, millet, corn, sorghum, legumes, and root crops such as cassava, taro, yams, and potatoes. Vegetable & fruit crops are also targeted by rodents.
As per an industry expert, rodents are the cause of around 33% of the overall crop losses every year. International Rice Research Institute (IRRI) also estimated that 1% of the overall cereal crops are damaged by rats across the globe, and in developing countries, the figure is around 3%-5%. According to the USDA, damages of USD 19 billion are incurred in the country from rodent attacks, annually. Rodents preferably attack and feed majorly on the embryo, resulting in damage to the seed’s germination ability and nutritional value. Apart from food losses, there are around 50 diseases such as typhoid, paratyphoid, and scabies that can be transmitted by rodents to humans. Moreover, rodents can act as vectors for a large number of diseases that can affect several domestic animals.
Restraint: Stringent regulations and ban on the use of rodenticides in developed countries
Strict and rigorous regulatory requirements in the environmental protection sector are applicable to the manufacturers’ production processes and to their production environment. Moreover, these vary with the policies of each country. The usage of rodenticides is subject to registration 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 a control and preventive method has been restricted in many European and North American countries. In 2008, the EPA announced that the sales of second-generation anticoagulants such as brodifacoum, bromadiolone, and difethialone are being restricted due to their highly toxic nature and their harmful impact on non-target predators and other domestic animals. The EPA also announced that other rodenticides such as first-generation anticoagulants and bromethalin that are used in homes would be sold with bait stations under safety considerations. However, as per the new amendments by FIFRA, bromadiolone, brodifacoum, and other such active ingredients have been considered for re-registration, owing to the growing rodent population. However, the approval procedures of these products have been stringently regulated. In 2014, the EPA ceased the sale of 12 d-Con products by the pest control company, Reckitt Benckiser, as the sale of these products did not meet the safety standards of the EPA and sold without the bait stations.
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North America is projected to dominate the rodenticides market by 2025.
The rodenticides market was dominated by North America in 2018 and is also projected to witness significant growth during the forecast period. This is due to the growing concerns of rodent attacks in the US. According to the Washington Post Company LLC (US), there were about 2 million New York City rats in 2014. According to Rentokil Initial Plc (UK), there are over 20,000 pest control service companies in North America; Orkin, Terminix, Rentokil, and Ecolab occupy a significant share in the market. Among all the pests, according to the same report, rodents were responsible for over 29% of pest incidents in America in 2017, 35% of which were from the North-Eastern region.
This report includes a study of the development strategies, along with the product portfolios of leading companies. It also includes the profiles of the companies in the rodenticide product market. These include BASF SE (Germany), Bayer (Germany), Syngenta (Switzerland), UPL (India), Liphatech Inc. (US), JT Eaton (US), Neogen Corporation (US), Pelgar International (UK), Senestech Inc. (US), Bell Laboratories (US), and Impex Europa (UK). The key players profiled under the rodenticide service market include Rentokil Initial Plc (UK), Terminix (US), Ecolab (US), Anticimex (Sweden), Rollins (US), Truly Nolen (US), and Abell Pest Control (Canada).
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