The report titled “Pest control products and services Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global pest control products and services market in terms of market segmentation by product outlook, by application type, by services type, by end-user and by region.
The global pest control products and services market is segmented into product outlook such as insecticides, rodenticides, other chemical products, mechanical and other pest control products. Among these segments, the insecticides segment accounted for USD 5.2 Billion in 2015 and it is garnered to USD 5.6 Billion by the end of 2016. Moreover, insecticides segment is expected to seize a significant CAGR by the end of 2023. Likely, upsurge demand for pest control products and services from corporate sector is projected to foster the growth of global pest control products and services market. In addition to this, rising adoption of pest control products and services by farmers owing to its properties such as it kills pest and results in high crop yield is also believed to augment the demand for pest control products and services by the end of 2023.
Global pest control products and services market is anticipated to post a noteworthy CAGR of 6.1% during the forecast period i.e. 2016-2023. Moreover, the global pest control products and services market is projected to account sales of USD 26.5 Billion by the end of 2023. Additionally, mounting concern towards health and well-being among the population is projected to foster the growth of pest control products and services market.
The cockroach segment by application captured the biggest market for global pest control products and services market. Moreover, cockroach segment is projected to grab a CAGR of 5.2% by the end of 2023. In terms of regional platform, North America region accounted for the biggest share in the markets of pest control products and services. Moreover, North America pest control products and services market is estimated to account for USD 7.2 Billion in 2015 and has reached to USD 8.01 Billion by the end of 2016. Apart from this, Asia-Pacific market of pest control products and services is anticipated to account for USD 5.8 Billion by 2023, registering a CAGR of 6.2% during the forecast period i.e. 2016-2023.
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Robust Expansion of Commercial and Corporate Sector
Swift expansion of commercial and corporate sector have augmented the demand for pest control products and services in order to maintain hygiene and to reduce the spread of infections at workplace which is believed to be the major factor behind the rapid growth of pest control products and services market. Moreover, prevalence of vector-borne diseases and virus linked to pests is also impacting the growth of pest control products and services market.
Expansion of urban region in developing and developed nations such as U.S., China, Japan, India and others is augmenting the demand for pest control products and services which is predicted to be the key factor behind the positive growth of pest control products and services market. Furthermore, increasing congestion in urban cities and growing awareness towards health and hygiene among the urban population is projected to boost the demand for pest control products and services.
On the contrary, strict government regulations regarding the usage of pest control products due to high toxic level is believed to hamper the growth of pest control products and services market across the globe.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global pest control products and services market which includes company profiling of Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc. , Service Master Global Holdings, Inc., Massey Services Inc., Sanix Incorporated, Asante Inc. and WinField Solutions LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pest control products and services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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