The upsurge in rodent population and increased occurrence of pest-related diseases are driving the demand for the market.
New York, NY -- (SBWIRE) -- 04/15/2021 -- Rodenticides Market Size – USD 4.62 Billion in 2019, Industry Growth - CAGR of 3.5%, Industry Trends – High demand from developing nations with the increasing residential area
The global Rodenticides market is forecast to reach USD 6.11 Billion by 2027, according to a new report by Reports and Data. The market is gearing a surge with urbanization and industrialization, which has created a demand for pest control, owing to an increase in the population of commensal rodents. The flourishing agricultural sector in emerging nations has led to the high consumption of various pesticides to gain high productivity. This factor is anticipated to fuel the market growth.
The migration of people from the rural areas to urban centers due to urbanization, and also reduction of arable land is augmenting the increase in rodent population for urban areas. This settlement is resulting in the displacement of rats from their places to housing areas. This has created the need for using rodenticides to abolish such rodents. Moreover, the increasing awareness among people and the consciousness towards hygiene and health also triggered the use of rodenticides. Survival of rodents in a warmer climate due to an increase in temperature and global warming has led to a surge in the rodent population, which, in turn, accumulates growth for Rodenticides.
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The Key Companies Profiled in the Market are:
BASF SE, Bayer AG, Syngenta International AG, SenesTech, Inc., IMPEX EUROPA S. L., Neogen Corp., Liphatech, Inc., UPL Ltd., Pelghar International, Reckitt Benckiser Group PLC, JT Eaton, Bell Labs Inc., and Rentokil Initial, PLC, among others.
The Government initiatives for satisfying food needs are improving the Agricultural Sector. This is signifying the high utilization of the rodenticides. The Agricultural sector is thriving with new advancements, thus creating demand for natural rodenticides. Nonetheless, stringent regulations and policies imposed by the government in the production of rodenticides may restrict the growth of the rodenticides market.
North America is dominating the market with a rising number of rodent attacks and thus, attributing to the demand for rodenticides in the forecast period. Government initiatives for high-quality foods and the growing need for bio-rodenticides in the U.S. accounted for the largest market share. The Asia Pacific region is forecasted to grow with the highest growth rate owing to the increase in population and a rapidly growing Agricultural sector in India and China.
The COVID-19 impact:
The emergence of COVID-19 has kept different challenges towards service companies to respond to changing needs. This health crisis has brought an unprecedented impact on different demand-driven businesses. The market is expected to grow significantly with the corona isolation. The migration of people across urban centers may increase rodent activity. This will drive demand for rodenticides in the near future. However, during these unusual times, where commercial retail outlets and businesses and may be closed, the risk of infestation may be higher. Also, the increasing awareness among people for precautions and consciousness towards hygiene and health raised the use of rodenticides. The manufacturers are engaged in research and development of active ingredients for good quality products to cater to growing needs. To increase the regional presence, companies are laying high emphasis to tap unexplored marketplace.
Further key findings from the report suggest
By type, the anticoagulant segment held the largest market share in 2019 due to the inability of blood clotting factors in rodents seen against non-anticoagulants. In the US, about 95.0% of the chemical control of rodents done using anticoagulants.
By mode of application, the powder is expected to register a stagnant growth in the forecast period because the use of such modes in the air may harm animals and humans for ventilation.
By end-use, the agriculture segment is projected to occupy the highest share in 2027. An increase in devastation to grains and crops by rodents and also damage made to farm equipment is likely to drive segment growth over the forecast period.
North America is a major market for rodenticides. An increase in the number of residential areas and growing damage by rodents to agricultural fields will drive demand for Rodenticides in this region. However, Asia Pacific is projected to experience substantial growth with urbanization and a robustly growing population creating a demand for the safety of foods, thus boosting the demand for rodenticides.
Manufacturers are captivated in various mergers and acquisitions and product developments to expand their market share. For example, in November 2017, Rentokil Initial plc acquired Vector Disease Acquisition, LLC, to expand its presence in North America.
In April 2018, BASF (US) introduced Selontra rodent bait, an innovative soft bait formulation for Pest Management Solutions. This product is cholecalciferol based rodenticide, which helps the professionals, poultry, and livestock growers for rodent control.
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For the purpose of this report, Reports and Data have segmented into the global Rodenticides market on the basis of type, mode of application, end-user, and region:
Type Outlook (Revenue, USD Billion; 2020-2027)
Non-anticoagulants
Anticoagulants
First-generation Anticoagulants
Second-generation Anticoagulants
Mode of Application Outlook (Revenue, USD Billion; 2020-2027)
Pellets
Sprays
Powders
Blocks
Granules
End-User Outlook (Revenue, USD Billion; 2017-2027)
Agricultural Fields
Warehouses
Urban Centers
Residential
Commercial
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Rodenticides Market Segmentation & Impact Analysis
4.1. Rodenticides Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Upsurge in Rodent Population
4.2.2.2. Increase in demand for Pest Control
4.2.2.3. Availability of Natural Rodenticides
4.2.2.4. Prevalence of Pest related Diseases
4.2.2.5. Increasing Damage due to Rodent Attack
4.2.3. Market restraints analysis
4.2.3.1. Confining Regulations and policies by Governmental Agencies
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
……………….
Chapter 10. Company Profiles
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
9.1.4. Strategic Initiatives
Bayer AG
10.2.1. Company Overview
10.2.2. 10nancial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Syngenta International AG
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. SenesTech, Inc.
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
Continued……
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