Global Insect Pest Control Market Overview

The Insect Pest Control Market Size was valued at USD 17.65 Billion in 2022 and is projected to reach USD 29.43 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period. This growth is being driven by a number of factors, including:

  • Changing climatic conditions that are creating more favorable environments for pests to thrive
  • A rapid increase in the population of pests across the globe
  • The need to protect human health from deadly diseases that can be transmitted by pests
  • The expansion of the integrated pest management (IPM) industry
  • The launch of new IPM programs
  • Increasing government support for IPM

IPM is a sustainable approach to pest control that focuses on preventing pests from entering a property in the first place, rather than relying on pesticides to kill them after they have already arrived. IPM techniques include:

  • Exclusion: This involves sealing up cracks and crevices in buildings to prevent pests from entering.
  • Sanitation: This involves keeping food and water sources clean and free from pests.
  • Habitat modification: This involves making changes to the environment to make it less hospitable to pests.
  • Biological control: This involves using natural predators or parasites to control pest populations.

Click Here to Get Sample Premium Report : https://www.marketresearchfuture.com/sample_request/6415

Segmentation Analysis:

The insect pest control market is segmented by control method, insect type, and application.

By control method, chemical segment accounted for 56% share in 2017. The segment is expected to generate close to USD 10,070.1 million by 2023. This can be credited to the popularity of chemical pest control methods among professionals. Bu the biological segment is predicted to exhibit 5.58% CAGR during the forecast period to reach a value of USD 2,940.8 million by 2023.

By insect type, termites accounted for nearly 30% share in the insect pest control market in 2017. It can exhibit the highest CAGR of 6.35% during the forecast period to accrue close to USD 5,808 million by 2023. Cockroaches can display the second-highest CAGR of 5.50% over the assessment period to generate close to USD 3,291 million by 2023.

By application, commercial accounted for 45.1% market share in 2018, followed by residential (24.2%), livestock farms (16.9%), and industrial (13.8%). The commercial segment is expected to exhibit 5.28% CAGR during the assessment period to generate close to USD 8,099.9 million by 2023. The residential segment, on the other hand, is touted to exhibit 5.61% CAGR to accrue close to USD 4,420 million by 2023.

Regional Analysis

Region-wise, the insect pest control market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). North America accounted for 48.8% market share in 2018, followed by Europe (20.8%), APAC (19.3%), Latin America (6.0%), and MEA (5.0%).

The North America insect pest control market is predicted to reach a size of USD 8,568.7 million by 2023. High demand in the region can be attributed to requirement for pest management services in hotels, restaurants, and the food processing sector.

The APAC region is expected to exhibit a staggering CAGR of 6.68% during the assessment period to touch a size of USD 3,754.5 million by 2023. It can elicit immense demand for pest control solutions owing to the need in food services, pharmaceutical, and tourism sectors. On the other hand, the MEA region is touted to showcase 6.03% CAGR to accumulate close to USD 946.7 million for the insect pest control market by 2023.

Competitive Analysis:

Prominent names in the insect pest control market are China National Agrochemical Co., Ltd. (China), PelGar International Limited (U.K.), SenesTech, Inc. (U.S.), Rentokill Initial plc (U.K.), ADAMA Agricultural Solutions Ltd. (Israel), Bayer AG (Germany), Rollins, Inc. (U.S.), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), Ecolab (U.S.), BASF SE (Germany), Curtis Gilmour (U.S.), and FMC Corporation (U.S.).

Launch of novel products and establishment of new units to cater to the pest control industry growing demand of pest management services are main strategies of these players. In October 2018, Sumitomo entered into an agreement with Mahindra Agri Solutions to develop new biological methods for eliminating pests.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), and Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team has a supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which helps to answer all their most important questions.

To stay updated with the technology and work process of the industry, MRFR often plans & conducts meetings with the industry experts and industrial visits for its research analyst members.

Contact

Market Research Future

Office No. 104, Pentagon 4 Magarpatta City, Hadapsar,

Pune – 411013 Maharashtra, India

Tel. (0) + 91 8411985042 / 020 640000195

Email: [email protected]