Increasing demand for rodenticides is expected to drive Global Rodenticide Market in the forecast period, 2023-2028. According to the TechSci Research report, “Rodenticides Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the global rodenticides market is anticipated to grow at an impressive rate in the forecast period, 2023-2028.
The Important Elements of the Rodenticide Market
This can be ascribed to the rising urbanization and industrialization and coupled with the rate of rodent displacement in the urban areas and demand for pest control in industrial areas are expected to boost the market growth in the forecast period. Similarly, increasing prevalence of pest-related diseases and availability of natural rodenticides, increasing concern regarding economic loss associated with damage caused by rodents in the agricultural field, increasing demand for rodent control pastes, offices, hospitals, hotels, and housing, and high preference for hygiene control will propel the rodenticides market growth in the forecast period.
However, increasing the use of chemical rodenticides in urban areas may pose a negative impact on the environment and ecosystem which can hamper the rodenticides market. The stringent and rigorous regulatory requirements to launch new rodenticides is the main factor that will hamper the Global Rodenticides Market in the forecast period.
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The global rodenticides market is segmented by type, mode of application, rodent type, end use, and by region.
Based on Type, the global rodenticides market can be segmented into Anticoagulant Rodenticides and Non-coagulant Rodenticides. Anticoagulant rodenticides are expected to dominate the market for the forecast period because it kills rodents but is less toxic to human and other animals.
Based on the Mode of Application, the Global Rodenticides Market can be segmented into pellets, Spray, and Powder. Pellet rodenticides are predicted to dominate the market in 2022 and maintain their dominance throughout the forecast period. It attracts rodents and is used to control rodent infestations such as house mice and black/ grey rats.
Based on End Use, the global rodenticides market can be segmented into Agricultural Fields, Warehouses, and Urban Centers. The warehouse segments are expected to dominate the market in 2022 and maintain their dominance throughout the forecast period. However, increasing damage caused by rodents to store gain, farm equipment, and field crops in the agricultural industry and increasing occurrences related to damage of electric wirings and walls in commercial and residential buildings are further expected to propel the growth of the rodenticides market in the forecast period.
Major companies operating in the global rodenticides market are:
- BASF SE
- Bayer CropScience Limited
- Syngenta AG
- UPL Limited
- Neogen Corporation
- Ecolab Inc.
- Rentokil Initial PLC
- Senestech, Inc.
- Rollins, Inc.
- Liphatech, Inc.
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“North America region is expected to register the highest growth in the Global Rodenticides Market on account due to the presence of many manufacturers, coupled with high standards of hygiene. Different local and regional players, increasing initiatives by government organizations to create awareness about using rodenticides, increasing demand for pellet rodenticides, growing application of commercial rodenticides, and increasing availability of raw materials, are further expected to support the market growth. Additionally, large-scale production of rodenticides and government initiatives to control the damage of crops because of rodents is expected to propel the market growth till 2028” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Rodenticides Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Anticoagulant Rodenticides v/s Non-coagulant Rodenticides), By Mode of Application (Pellet, Spray, Powder), By Rodent Type (Rat, Mice, Chipmunk, Hamster, Others), By End Use (Agricultural Fields, Warehouses, Urban Centers), By Region and Competition”, has evaluated the future growth potential of global rodenticides market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the rodenticides market.
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