Rodenticides Market - PMI
The report “Rodenticides Market, By Type, By End use, By Mode of Application - Trends, Analysis and Forecast till 2030’’
COVINA , CALIFORNIA, UNITED STATES, March 30, 2023 /
EINPresswire.com/ -- According to the latest research study, the demand of
Rodenticides Market accounted for US$ 5.1 billion in 2020 and is estimated to be US$ 8.2 billion by 2030 and is anticipated to register a CAGR of 5.3%.
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Report Metrics:
Report Attribute - Details
Market Size - US$ 5.1 billion
CAGR – 5.3%
Base Year - 2020
Forecast Period – 2020 - 2030
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Key Highlights:
• In April 2018, BASF SE launched Selontra rodent bait, a soft bait formulation based on the active ingredient, cholecalciferol, for rodent control in the US market. The product has high efficacy in controlling rodent infestation in just seven days.
• In November 2017, Rentokil Initial, announced the acquisition of Vector Disease Acquisition, LLC (VDA). This transaction would aid Rentokil in strengthening its position in the market and fulfil the growing demand for mosquito control worldwide.
• In August 2017, NEOGEN launched an effective rodenticide bait named DeciMax
® Soft. It blends the flexibility and superior palatability so that it can be used in extreme weather conditions. It is also equipped with a second generation anticoagulant named bromadiolone that would help in controlling mice and rats effectively.
Analyst View:
Rodent population responds more rapidly to favorable weather conditions, such as heavy rainfall, which could directly or indirectly proliferate rodent-borne pathogens, such as spirosis, a zoonotic bacterial disease, with an unknown, but probably high human and veterinary prevalence. Rodents breed prominently more in warmer climates and with the changing climatic or the global warming leads to the change in the population dynamics of rodents and their ecosystems, as. The proliferation of rodent population is related to climatic changes, which is a major international public health concern. Hantavirus infection is increasingly sensitive to climatic conditions.
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.
Key Market Insights from the report:
Rodenticides Market accounted for US$ 5.1 billion in 2020 and is estimated to be US$ 8.2 billion by 2030 and is anticipated to register a CAGR of 5.3%. The market report has been segmented on the basis of the type, end-user, mode of application and region.
• Depending upon type, anticoagulants are projected to be the fastest-growing segment in the rodenticides market during the forecast period. Anticoagulants are further classified into first generation anticoagulant rodenticides (FGAR) and second-generation anticoagulant rodenticides (SGAR). Among the anticoagulant rodenticides, second-generation active ingredients are preferred due to their high effectivity, and majorly these products are approved by the regulation authority.
• Based on the end-use sector, residential segment is projected to dominate the rodenticides market because of the rapid urbanization, increase in disposable income, and the rise in awareness about epidemics from rodent attacks. Further, residential holders have been increasingly adopting chemical agents besides mechanical control methods. Thus, the growth potential in residential holdings is projected to remain higher than the other end uses.
• By application, Blocks accounted for a significant share in the global market as these are appropriate for outdoor use as they are waterproof and resistant to the environment. Use of this form by pest control companies is expected to fuel growth in the coming years.
• By region, North America dominates the global rodenticides market in terms of revenue as compared to other regions. Due to high rodent population densities there is an increase in the cases of rodent-borne disease (for instance, Hantavirus) that transmits to humans. According to the CDC, the density of rodents that can cause Hantavirus is high in the US states, including Texas, Oklahoma, Louisiana, and Arkansas. Due to these factors, there are plans to eradicate the growing rodent population in North American countries, and hence contributing to the high consumption of rodenticides.
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Competitive Analysis:
The prominent player operating in the global Rodenticides Market includes Bayer AG, Syngenta AG, BASF SE, Rentokil Initial Plc, JT Eaton, UPL Limited, Anticimex, Bell Laboratories Inc, Ecolab Inc, Rollins Inc, Abell Pest Control.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Drivers and Restrains of Rodenticides Market:
For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.
Drivers:
• Increasing demand for pest control: As urbanization and industrialization continue to grow worldwide, the demand for pest control services, including rodent control, is also increasing.
• Growth in the agriculture and food industries: The agriculture and food industries are major users of rodenticides to protect crops and food products from rodent damage and contamination.
• Rising concerns about rodent-borne diseases: Rodents can carry and transmit a range of diseases to humans and animals, making rodent control a critical aspect of public health.
• Technological advancements: The development of new rodenticides with improved efficacy and safety profiles is driving growth in the market.
Restrains:
• Environmental concerns: Rodenticides can have negative impacts on the environment, including the potential to harm non-target species such as birds and other wildlife.
• Regulatory restrictions: The use of rodenticides is regulated by various government agencies to ensure public safety and environmental protection. These regulations can limit the availability and use of certain products.
• Resistance to rodenticides: Overuse or misuse of rodenticides can lead to the development of resistance among rodent populations, making control efforts more difficult and expensive.
• Competition from alternative pest control methods: As consumers become more environmentally conscious, demand for alternative pest control methods such as integrated pest management and biological control is growing, potentially limiting the growth of the rodenticides market.
Key Reasons to Purchase:
There are several key reasons why one might consider purchasing a report on the Rodenticides Market. These include:
1. Market analysis: A report on the rodenticides market can provide a comprehensive analysis of the market trends, growth drivers, and restraints. This can help businesses and investors make informed decisions regarding their investments in the market.
2. Competitive landscape: A report can provide insights into the competitive landscape of the rodenticides market, including the market share of key players and their strategies for growth. This can help businesses make informed decisions about their marketing and sales strategies.
3. Market size and forecast: A report can provide an accurate estimation of the market size and growth potential over a specified period. This information can be helpful for businesses looking to enter the market or expand their operations.
4. Regulatory environment: A report can provide an overview of the regulatory environment in the rodenticides market, including standards and guidelines that must be followed. This information can help businesses ensure compliance with relevant regulations.
5. Supply chain analysis: A report can provide a detailed analysis of the rodenticides supply chain, including production, distribution, and sales. This information can be helpful for businesses looking to optimize their operations and reduce costs.
6. Investment opportunities: A report can highlight potential investment opportunities in the rodenticides market, including emerging technologies and regions with high growth potential. This can help investors make informed decisions regarding their investments in the market.
For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.
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