Market Overview
Market Research Future (MRFR) confirms that the rodenticides market should be worth nearly USD 6.3 Billion by the year 2026. MRFR also expects the global market to secure a CAGR of 4.8% between 2020 and 2028.
Major Boosters and Barriers
Rodents such as mice and rats are largely found beneath manmade structures like warehouses as well as agricultural lands to protect themselves against changes in temperatures. They damage stored products, containers, and storage structures, which raises the need for effective products like rodenticides. The surge in the number of rodents has also given way to an increase in infectious disorders, especially in urban locations, which is proving to be a significant concern worldwide. Rapid urbanization worldwide has resulted in a massive need for hygiene and sanitation.
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Furthermore, the mounting awareness about basic hygiene standards and the need to address the issue of the growing rodent population will be favorable for the global market for rodenticides. The expansion of the rodent population globally has fostered the burden of several transferable diseases like Hantavirus infection, Lassa fever, and plague, which not only affect humans but the wildlife, and the environment as well. This has elevated the use of rodent control items in residential, industrial, and commercial applications.
On the competitive front, companies in the market are increasingly developing products with higher effectiveness at lower prices. An escalating number of hospitals, offices, housing, and hotels across emerging regions is bound to be a lucrative opportunity for global firms in the following years.
Market Segmentation
Type, rodent type, form, and end-user are the top market segments that have been analyzed in the MRFR report.
Rodenticides market Growth are available in various types in the global market, namely anticoagulants and non-anticoagulants. The anticoagulant segment recorded the highest growth in 2019 since this type provides painless death to rodents and is less toxic to other beings, including humans. The demand is particularly high in the agricultural industry.
Rodent types considered in the market study are squirrels, mice, rats, chipmunks, hamsters, and more. The rat segment stood at the leading position in 2019, since these rodents form the biggest population across the world and therefore, significantly boost the demand for rodenticides.
Different forms in which rodenticides are generally sold include pellets, spray, and powder, among others.
End-users mentioned are warehouses, agricultural fields, and more. Rodents spoil the food and other goods kept in a warehouse and this has become a serious issue in the food sector. As a result, the demand for rodenticides has soared rapidly in warehouses over the years.
Regional Study Analysis
The rodenticides industry can be categorized into Asia Pacific/APAC, MEA or the Middle East & Africa Americas, and Europe.
The North American market has made the highest progress worldwide and is touted to remain in the lead throughout the analysis period. The US forms the biggest market for rodenticides in the region, given the availability of a variety of rodent control products as well as services for the mounting numbers of rodents. The presence of several reputed vendors that frequently conduct R&D activities to create high-quality and advanced products further adds to the regional market’s value.
The European market majorly benefits from the expanding rodent population and houses a total of more than 6,000 pest control firms. The deteriorating garbage and drain conditions have led to the increase in the number of rodents, while the soaring concerns about human health due to the surge in diseases have bolstered the demand for advanced rodenticides in the region.
The Asia Pacific is on track to attain the fastest growth rate over the evaluation period, while China shows the highest potential to take the lead in the region. Demand for rodenticides in the region has been mounting rapidly due to the surge in infestations in warehouses and agriculture. The region’s climatic conditions like heavy rainfall, cyclones, and floods have been responsible for the frequent rodent outbreaks and enhance the need for effective rodenticides. The region’s vast agricultural fields prove to be a soft target for rodents, resulting in their growth.
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