(I-BusinessNews.Com, June 09, 2021 ) The report ” Rodenticides Market by Type (Non-anticoagulants, Anticoagulants (FGAR, SGAR)), End use (Agricultural fields, Warehouses, Residential, Commercial), Mode of application (Pellet, Spray, and Powder), Rodent type, and Region – Global Forecast to 2026″, The global rodenticides market size is estimated to be valued at USD 4.9 billion in 2020 and is expected to reach a value of USD 6.6 billion by 2026, growing at a CAGR of 5.0% during the forecast period. Factors such as the displacement of rodents due to urbanization and increase in rodent population due to climatic change such as global warming drive the growth of the market.
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COVID-19 impact on Rodenticides market
The market includes major product manufacturers and service providers like Syngenta AG, Bayer AG, BASF SE, UPL Ltd, Rentokil Initial plc, Ecolab Inc and Rollins Inc. These companies have their manufacturing and service facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. COVID-19 has impacted their businesses up to some extent. Though this pandemic situation has impacted their businesses, there is no significant impact on the global operations and supply chain of their rodenticides. Multiple manufacturing facilities of players are still in operation. The service providers are providing rodent control services by following safety and sanitation measures.
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.
Opportunity: Increase in demand for rodent pest control services from the hospitality and tourism sectors
The entertainment sector, warehouses, construction companies, foodservice segment, pharmaceutical companies, and the hospitality sector play an important role in encouraging the demand for pest control products & services, particularly for rodents. The economic losses due to the damages caused by pests, such as rodents, affect the tourism industry. The growth of the hospitality and entertainment sectors in urban areas due to the high purchasing power among consumers has driven the demand for rodent control products.
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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.
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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