- Implementation of stringent government regulations in the developed regions toward conservation of environment fuels the growth of the global pest control market
PORTLAND, Ore., May 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Pest Control Market by Type (Chemical, Mechanical, Biological, and Other), Pest Type (Insects, Termites, Rodents, and Other), and Application (Commercial, Residential, Agriculture, Industrial, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global pest control industry was estimated at $20.6 billion in 2019, and is anticipated to hit $30.0 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027.
Drivers, restrains, and opportunities-
Implementation of stringent government regulations in the developed regions toward conservation of environment and favorable government initiatives to promote the use of bio-based pesticides fuel the growth of the global pest control market. On the other hand, toxicity and health-related issues due to chemicals present in pesticides retrain the growth to some extent. However, ongoing R&D activities to increase the dependency on bio-based pesticides are expected to create lucrative opportunities in the near future.
The outbreak of the pandemic led to changing consumer spending patterns across the globe, which impacted the market negatively.
However, the support from government bodies that have started offering subsidies to the pest control market has boosted the market growth.
The chemical segment to dominate by 2027-
Based on type, the chemical segment accounted for nearly one-third of the global pest control market share in 2019, and is projected to rule the roost by the end of 2027, owing to its effectiveness in controlling pests in terms of scale and efficiency. The mechanical segment, on the other hand, would register the fastest CAGR of 5.9% from 2020 to 2027. Its easy application, cost-effectiveness, and quick result drive the segment growth.
Based on pest type, the insects segment contributed to nearly two-fifths of the global pest control market revenue in 2019, and is anticipated to lead the trail by 2027, due to rise in the number of insects in residential as well as commercial set ups. Simultaneously, the rodents segment would exhibit the fastest CAGR of 6.6% during the forecast period, owing to increasing problems issued out of damaged crops because of rodents.
North America, garnered the major share in 2019 –
Based on geography, North America, held the major share in 2019, generating nearly half of the global pest control market, due to development in farming equipment, contemporary communication tools, and shifting consumer trend. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 7.9% by 2027, owing to various developmental strategies followed by the key-players in the region.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.