Pest Control Products and Services Market to Witness Robust Expansion throughout the Forecast 2020-2030
Market Overview:
Prime factors powering the demand for pest control products and services are rapid expansion of the urban population across the globe, growing consumer awareness concerning health and hygiene, prevalent weather conditions supporting insect growth, rapid increase in lifestyle expenditures, and rising international tourism. Increase in economic activities across the globe is also a positive factor favoring the growth of the global pest control products and services market.
The implementation of stringent government regulations to limit the levels of chemical toxicity and restrict the use of highly toxic pesticides to reduce their hazardous impact on public health and environment is one of the major restraints for market growth.The global pest control products and services market is slated to increase at an impressive CAGR of 7% over the next ten years, expanding more than twofold in the process.
Due to ever-increasing urban population all around the world, there has been a rise in food sources and conducive living habitats for different kinds of pests such as rodents, cockroaches and mosquitoes. Due to this, there is strong demand for pest control products and services all over the world.In addition, rapid migration is being witnessed from rural areas to urban centers, and this is more prevalent in developing countries. This further increases the population density of urban areas, and thereby, is expected to expand the pest control products and services market size during the period of assessment (2020 – 2030).
Market Growth Factors :
Here are some key growth factors influencing this market:
- Increasing Pest Threats:
- As global trade and travel continue to rise, there is an increased risk of pests spreading across borders. This has led to a higher demand for pest control services to manage and eradicate these threats.
- Urbanization and Population Growth:
- Rapid urbanization and population growth result in more concentrated human settlements, creating favorable conditions for pest infestations. Urban areas often provide abundant food sources and shelter for pests, necessitating the need for effective pest control solutions.
- Stringent Regulations:
- Governments and regulatory bodies around the world have implemented strict regulations regarding hygiene and pest control, especially in industries such as food and healthcare. Compliance with these regulations has become a driving factor for businesses to invest in pest control services.
- Growing Awareness of Health and Hygiene:
- Increased awareness about the health risks associated with pests has driven both residential and commercial consumers to seek professional pest control services. Pests can transmit diseases and contaminate food, making effective pest control crucial for maintaining a healthy environment.
- Advancements in Pest Control Technologies:
- The development of innovative and eco-friendly pest control products and technologies has boosted market growth. Integrated Pest Management (IPM) strategies, which focus on minimizing environmental impact while effectively managing pests, have gained popularity.
- Climate Change:
- Changes in climate patterns can affect the distribution and behavior of pests. Certain pests may thrive in warmer temperatures, leading to increased infestations. This, in turn, drives the demand for pest control products and services.
- Increased Agricultural Productivity:
- The agriculture sector is a significant consumer of pest control products. As the demand for higher agricultural productivity increases to feed a growing global population, the need for effective pest control measures also rises.
- Economic Growth:
- Economic development in various regions has contributed to an increase in disposable income. As a result, consumers are more willing to spend on pest control services to protect their homes and businesses.
- Globalization and Trade:
- The movement of goods across borders has facilitated the spread of pests. To protect agriculture and ecosystems from invasive species, there is a growing need for pest control measures in the context of global trade.
- Public Health Concerns:
- Pests can pose significant public health risks by transmitting diseases. The increasing recognition of the link between pest control and public health has led to higher demand for services in both residential and commercial settings.
Market Challenges:
- Regulatory Compliance:
- Adhering to diverse and stringent regulations regarding the use of pest control products can be challenging for businesses. Regulatory changes, bans on certain chemicals, and evolving environmental standards may necessitate adjustments in product formulations and service approaches.
- Environmental Concerns:
- The use of traditional pest control chemicals can raise environmental concerns due to their potential impact on non-target species, water sources, and ecosystems. There is a growing demand for eco-friendly and sustainable pest control solutions, prompting the industry to develop and adopt greener alternatives.
- Resistance to Pesticides:
- Pests can develop resistance to commonly used pesticides over time. This resistance poses a significant challenge for pest control professionals, as it may reduce the effectiveness of certain products and necessitate the development of new, more potent solutions.
- Public Perception and Awareness:
- Negative public perceptions of chemical-based pest control methods and concerns about potential health risks can affect the industry. Educating the public about the safety and necessity of pest control measures is crucial for overcoming these challenges.
- Emerging Pests and Diseases:
- The emergence of new pests and vector-borne diseases presents a constant challenge. Adapting pest control strategies to address these evolving threats requires ongoing research, monitoring, and the development of effective solutions.
- Cost of Innovation:
- Developing and implementing innovative and sustainable pest control technologies can be costly. Companies in the industry face the challenge of balancing the need for innovation with the economic feasibility of their products and services.
- Global Economic Factors:
- Economic downturns can impact the demand for pest control services, especially in the commercial and industrial sectors. Businesses may reduce spending on non-essential services during challenging economic times.
- Labor Shortages:
- The pest control industry relies heavily on skilled technicians to provide services. Labor shortages and difficulties in recruiting and retaining qualified personnel can constrain the industrys ability to meet growing demand.
- Weather and Climate Variability:
- Weather patterns and climate changes can affect the prevalence and behavior of pests. Unpredictable weather events may lead to increased pest activity, making it challenging to plan and implement effective pest control measures.
- Competition and Market Saturation:
- The pest control market can become saturated in certain regions, leading to increased competition among service providers. Companies must differentiate themselves through quality service, innovative solutions, and effective marketing.
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Key Takeaways from Global Pest Control Products and Services Market Study
The insecticides product type segment is expected to gain significant market share by 2030, and is estimated to increase 1.7X in terms of value by the same years. The chemical control service type segment is expected to continue to remain the most dominant segment in the market till the end of 2030.
The insect control application segment leads the other by far, with a projected 1/3 market share in the year 2020.
The residential end user segment holds a larger share at the moment, but will be overtaken by the commercial segment during the forecast period.
North America held the largest share in the global pest control products and services market in 2019, and will continue to do so through 2030. The market in East Asia is expected to expand at a higher CAGR during the forecast period.
“The COVID-19 outbreak has heightened the need for hygiene ever so much, proving to be a blessing for the pest control products and services market space. Also, when things open up completely after current lockdowns, they would need to be disinfected thoroughly after being locked up for months, which will further surge market growth,” says a PMR analyst.
Pest Control Products and Services Market: Key Questions Answered
The research study offers inclusive insights about the growth of the pest control products and services market in the most comprehensible manner for the better understanding of readers. Key insights offered in this report answer some of the salient questions that assist stakeholders in gauging all emerging possibilities.
- How has rapidly changing consumer perspective acted as a major growth engine for the pest control products and services market?
- How does e-Commerce boost pest control products and services market growth?
- Do omni-channel concepts help companies grow in the global pest control products and services market?
- What are the key trends that are constantly shaping the growth of the pest control products and services market?
- Which are the prominent regions offering plentiful opportunities for the market?
- What are the differential strategies adopted by key players to command a significant chunk of the global market share?
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Global Pest Control Products and Services Market: Competition Analysis
The global pest control products and services market report profiles some of the leading companies functional in the market landscape. Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Brothers Exterminating Company Incorporated, Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions LLC, and Univer Inc. are the top market players featured in the global pest control products and services market report. Some of these companies are focusing on expanding their geographical presence through operational expansion and strategic mergers and acquisitions.
More Valuable Insights on Pest Control Products and Services Market
Persistence Market Research released a new market research on the pest control products and services market, covering global industry analysis of 2015-2019 and forecasts for 2020-2030. The pest control products and services market study reveals compelling insights on the basis of type, application, end user, and region.
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