DUBLIN--(BUSINESS WIRE)--The "Global Pest Control Market: Analysis By Method, By Pest Type, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The global pest control market was valued at US$22.01 billion in 2021 and is expected to grow to US$28.32 billion by 2026. Pest control is the process of eliminating pests or preventing them from reproducing, developing, or migrating. Pests can cause major problems, such as health issues, depending on the kind of species they are.
Not only that, but bugs can cause property harm because they infest buildings, crops and the whole environment. Because of the presence of house flies, bed bugs, cockroaches, and other insects in areas where there are human activities, pest control management has become increasingly crucial in recent years.
The four common methods of pest control process are chemical, biological, mechanical, and software and service. For a wide range of area, chemical method is more convenient than others. The pest control market is expected to grow at a CAGR of 5.10% over the forecast period of 2022-2026.
Impact Analysis of COVID-19 and Way Forward:
Like many other industries the global pest control market also experienced a slowdown, especially during the first half of 2020 due to COVID-19 pandemic. Due to lockdown restrictions and business closures, many pest control services were stopped. As more businesses reopened after the closure, the need for pest control services for commercial facilities grew. The rise in reopening of economies and surge in economic activities in the second half of 2020 has resulted in a resurgence in pest control revenue around the world. The adoption of new technologies and procedures would boost the global pest control market forward in the coming years.
Competitive Landscape:
The global Pest control market is fragmented. However, North America pest control market is less fragmented than the global.
The key players of the global pest control market are:
- Rentokil Initial Rollins Inc.
- Terminix Global Holdings, Inc. (Terminix)
- Ecolab Inc
- BASF
- Bayer AG
- Anticimex
- Cleankill Pest Control
- Bell Laboratories, Inc.
- Dodson Pest Control
Rentokil, and more recently Anticimex, have been the most active, in part because they still lack scale in some US markets. Ecolab has a large commercial pest control business, but that comprises less than 5% of Group revenue. Chemicals manufacturers like BASF and Bayer also have product lines oriented at pest control. Pest Control players in Asia include Japan's Ikari and Sanix. In terms of application, Rollins and Terminix appear to be more diverse. Rollin and Terminix are mostly the US exposed.
Consolidation has been a significant part for the Pest Control sector. Because of the significant benefits from route density and the fragmented nature of the market, M&A can lead to significant margin expansion.
Market Dynamics
Growth Drivers
- Changing Climate Condition
- Rapid Urbanization
- Infrastructure Development
- Rising Industrial Activities
- Rise in the Number of Fatal Vector-Borne Diseases
- Rising Awareness about Cleanliness, Hygiene and Health
Challenges
- Rising Concerns regarding the Harmful Impact of Pesticides
- Lack of Skilled Manpower in Developing Regions
Market Trends
- Adoption of AI based Technologies
- Increasing Demand of IoT Devices Globally
- Modern Technologies
- Integrated Pest Management
- Shift towards Biopesticides
For more information about this report visit https://www.researchandmarkets.com/r/z10fpz
