Pest Control Market by Type, Application and Region
OREANDA-NEWS. MarketsandMarkets Offers Report by Research on Pest Control Market by Type (Chemical Control, Mechanical Control, Biological Control), Pest Type (Insects, Termites, Rodents, Wildlife), Application (Commercial, Industrial, Residential, Agricultural), and Region - Global Forecast to 2021.
The global pest control market has grown exponentially in the last few years. The market size is projected to reach USD 22.04 Billion by 2021, at a CAGR of around 5.3% from 2016. Emerging countries such as India, Japan, and Australia are the primary targets of the industry as they demand hygienic environmental conditions. Factors such as developing economies, climatic changes, easy availability of pest control service providers, and increasing pest population are some of the major drivers of this market.
The pest control market, on the basis of type, is segmented into chemical control, mechanical control, and biological control. The biological control segment is projected to grow at the highest CAGR during the forecast period. An increase in the demand for organic agricultural produce has led to the need for quality crop yield and reduction in losses of agricultural commodities due to pest infestation.
The pest control market, based on application, is segmented into commercial, industrial, residential, and agricultural. The importance of pest control is increasing as it will assist in eradicating pest infestation and maintain pest population to minimum levels. Commercial application accounted for the largest share of the pest control market in 2015, as there is a necessity to prevent pest infestation to protect the health of employees and customers in commercial buildings. The agricultural application in the pest control market is projected to grow at the highest CAGR from 2016 to 2021 to reduce the loss of crops.
The market is segmented on the basis of pest type into insects, termites, rodents, and wildlife. As a result of the increasing insect population due to drastic climatic changes; the insect segment accounted for the largest market share in 2015. The termite segment is projected to grow at the highest CAGR from 2016 to 2021.
The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. The increase in availability of pest control service providers in China and India, and increasing awareness about the use of pesticides are expected to lead to increased demand in the Asia-Pacific market.
Regulatory changes such as environmental protection laws and changing government policies across diverse regions are a restraint for pest control market players. The strict and rigorous regulatory requirements in the environmental protection sector are applicable to production processes and environments, which restricts the production of pest control products.
The pest control market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. New product launches, acquisitions, agreements, and expansions are the key strategies adopted by players to ensure their growth in this market. The market is dominated by players such as BASF SE (Germany), Bayer AG (Germany), Ecolab (U.S.), Syngenta AG (Switzerland), and Rentokil Initial plc (U.K.). These collectively accounted for the largest portion of the pest control market in 2015. Other players, such as FMC Corporation (U.S.), Rollins, Inc. (U.S.), Terminix International Company, L.P (U.S.), Bell Laboratories Inc. (U.S.), and the Dow Chemical Company (U.S.), also have a strong presence in this market.