The global rodenticides market is set to gain momentum from the increasing contamination of food items. Rodents are capable of contaminating around ten times the amount of food that they consume. Sometimes, it is much more. This information is given by Fortune Business Insights™ in a recent report, titled, “Rodenticides Market Size, Share & Industry Analysis, By Type (Anticoagulant and Non-anticoagulant), Form (Pellets, Powders, Sprays, and Others), Application (Agricultural Fields, Warehouse, Pest Control Companies, and Others), and Regional Forecast, 2020 – 2027.” The report further states that the rodenticides market size was USD 2.04 billion in 2019 and is projected to reach USD 2.66 billion by 2027, exhibiting a CAGR of 3.46% during the forecast period (2020-2027).
List of companies profiled in the report:
- BASF SE – Germany
- Bayer AG – Germany
- Bell Laboratories Inc. – United States
- Neogen Chemicals – United States
- Rentokil Initial Plc – United Kingdom
- PelGar International – United Kingdom
- Liphatech, Inc. – United States
- Impex Europa – Spain
- EcoClear Products Inc. – United States
- Syngenta AG – Switzerland
Browse More Insights into the Rodenticides Market Research Report:
COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
This Report Answers the Following Questions:
- Which strategies are being implemented by prominent players to intensify competition?
- How will the market be affected in the coming years owing to changing consumer preferences for non-toxic rodenticides?
- Which region would dominate the market in terms of revenue?
- What is the scenario of the segments in the market?
Request A Sample Copy – Rodenticides Market Report
Drivers & Restraints:
Increasing Usage of Integrated Pest Management to Bolster Growth
Rats and mice have been damaging the health and fitness of the masses since time immemorial. They can cause 60 different types of diseases, such as Hantavirus, typhus, and plague. At the same time, they can cause economic loss. One of the most effective methods to deal with such commensal rodents is the adoption of integrated pest management (IPM). It is a broad-based approach that highlights the economic management of rodents. However, the launch of new rodenticides must follow some of the rigorous and stringent regulatory requirements as provided by the governments or other regulatory bodies. It may hamper the rodenticides market growth during the forthcoming period.
Anticoagulant Segment to Grow Rapidly Backed by High Demand from Agriculture Sector
Based on type, the market is bifurcated into non-anticoagulant and anticoagulant. The anticoagulant segment held 75.54% rodenticides market share in 2019. They are used at a large scale as they provide the rodents with painless deaths by preventing their blood from coagulating. They are also less toxic to other animals, as well as human beings. They are highly demanded from the agricultural sector across the globe. Hence, this type of rats and mice pest control would be sold more in the near future.
Increasing Number of Residential Societies to Drive Growth in North America
In terms of geography, the market is divided into Asia Pacific, South America, North America, the Middle East and Africa, and Europe. Out of these, North America procured USD 692.58 million revenue in 2019. It is set to dominate the market in the near future. This growth is attributable to the rising number of residential societies in this region. Coupled with this, the increasing demand for rodent control products and services would contribute to the market growth in this region.
Asia Pacific, on the other hand, is expected to showcase rapid growth during the forecast period backed by the ever-increasing population, especially in the developing countries, such as India and China. Most of the people are engaged in agriculture in these countries. The growing population is urging the farmers in providing the maximum yield to fulfil the unmet needs. The production is lowering because of rodent attacks. Hence, such attacks need to be reduced. Also, rodenticides are easy-to-use, cheap, and are very effective. These factors are increasing their popularity in this region.
Key Players Engage in Mergers & Acquisitions to Broaden Product Portfolio
Major companies operating in the market are aiming to generate more sales by launching unique rodenticides in the market. Some of the reputed enterprises are also acquiring local players to increase their product portfolios. A few of the others are conducting awareness programs to let people know about the availability of various novel rodent pests and their advantages.
Order a Complete Research Report at ($4850):
Below are a couple of the latest key industry developments:
- November 2017: Rentokil Initial, a business services group based in the U.K., announced the acquisition of Vector Disease Acquisition, LLC (VDA). The latter is a provider of a wide range of vector control services consisting of disease testing, species identification, and weekly monitoring of mosquito levels. This transaction would aid Rentokil in strengthening its position in the market and fulfil the growing demand for mosquito control worldwide.
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.