(I-BusinessNews.Com, June 20, 2020 ) The insect pest control market was valued at USD 12.49 Billion in 2016 and is projected to reach USD 17.60 Billion by 2023, growing at a CAGR of 5.05% from 2017.
Pest management includes controlling infestations of insects, animals, germs, or other organisms that damage property, destroy food crops, and have adverse effects on the environment. Pest control is the process of minimizing or eradicating a wide range of undesirable insects and other pests from areas used for productive purposes, by using chemicals, technologies, special equipment, and other safety measures Various types of insecticide formulations are prevalent according to the type of insects, target site, formulation, active ingredient, application rate, permit requirements, and product registration.
The formulations are also required to be effective against insects without adversely affecting people or the environment. A variety of chemical and mechanical solutions are available in the market to control different types of pests. Additionally, since insecticide solutions are toxic, the insect control technicians need to be acquainted with safety measures and proper usage. As a result, there are several laws and regulations that have been adopted to help protect the consumers, the environment, and insecticide handlers from possible adverse effects caused by the usage of insecticides.
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Regulations on the use of chemical insecticides have become stringent in North American and European countries, owing to the environmental concerns arising from their usage. This has led to opportunities for the growth in the demand for biological insect pest control methods. However, there is still a significant demand for synthetic insecticides among public health authorities, livestock farmers, and pest control service providers, as their biological counterparts are environmental-friendly but less effective and require repeated usage for optimum results.
Increasing awareness about environmental pollution and public health concerns caused by vector-borne diseases are the major factors driving the demand for insect control services across the globe. With the increase in population, there is also increased pressure on limited resources, resulting in overexploitation and environmental degradation. The degradation of the ecosystem leads to global warming and temperature rise, which are expected to enhance the survival capability of pest across different seasons indirectly. Global warming has been an important factor in the movement of tropical pests away from the equatorial region.
The insect control market is driven by rapid urbanization across all regions. Increasing awareness on public hygiene and prevention of vector-borne diseases, coupled with the rising purchasing power parity (PPP) among middle-class populations have fueled the demand for pest control services, globally. Pathogens causing dengue, rift valley fever, malaria, and Zika virus are transmitted by insects, which act as vectors for these diseases, and are considered to be dangerous to humans, livestock, and the environment. Hence, various preventive and control measures to control the proliferation of harmful insects have been driving the growth of this market, globally.
The insect pest control market is a fragmented one with a large number of domestic manufacturers, formulators, service, providers, and suppliers. Easy availability of off-patent chemicals allows the entry of many small-scale manufacturers and to compete for the market position. Limited research activities are conducted with respect to insecticides, except for some key players such as Bayer (Germany), Syngenta (Switzerland), BASF (Germany), FMC Corporation (US), Sumitomo Chemicals (Japan), ADAMA (Israel), Rentokil Initial (UK), Ecolab (US), The Terminix International Company (US), Arrow Exterminators (US), Ensystex (US), and Rollins (US), as these are well-established and financially stable players that have been operating in the industry for several years.
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The application of insect pest control is the largest in the commercial & industrial sector due to the increasing need for professional pest control solutions, especially for food manufacturing and hospitality sectors, to maintain a hygienic environment for the control of cockroaches, bedbugs, flies, and mosquitoes.
North America accounted for the largest share in 2016 due to its significant growing demand in both commercial and residential applications. The Asia Pacific is projected to be the fastest-growing region from 2017 to 2023 due to the stringent need for commercial establishments and industrial sectors (such as food processing, food service industries, and tourism sectors) to comply with pest control regulations within their premises.
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