Rodenticides Market Updates, Growth, Business Outlook, Upcoming Developments and Future Investments by 2030
The global rodenticide market is set to gain momentum from the increasing contamination of food products. Rodents are capable of contaminating about ten times the amount of food they consume. Sometimes, it’s so much more. This information is provided by Fortune Business Insights™ in a recent report, titled, “ Rodenticides Market Size, Industry Share & Analysis, by Type (Anticoagulants & Non-Anticoagulants), Form (Pellets, Powders, Sprays & Others), Application ( Farm fields, warehouses, pest control companies, and others) and regional forecasts, 2020-2027.The report also states that the market size of rodenticides was $2,046.03 millionin 2019 and is projected to reach USD 2,660.82 million by 2027, exhibiting a CAGR of 3.46% during the forecast period (2020-2027).
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This report answers the following questions:
- What strategies are implemented by leading players to intensify competition?
- How will the market be affected in the coming years due to changing consumer preferences for non-toxic rodenticides?
- Which region would dominate the market in terms of revenue?
- What is the scenario of the segments in the market?
Drivers and Restrictions-
Increase use of integrated pest management to support growth
Rats and mice have harmed the health and fitness of the masses since time immemorial. They can cause 60 different kinds of diseases, such as hantavirus, typhoid, and plague. At the same time, they can cause economic losses. One of the most effective methods of dealing with these commensal rodents is the adoption of integrated pest management (IPM). This is a wide-ranging approach that highlights the economic management of rodents. However, the launch of new rodenticides must follow some of the stringent and stringent regulatory requirements set forth by governments or other regulatory bodies. It may hamper the growth of the rodenticide market in the coming period.
The anticoagulant segment will grow rapidly supported by the high demand from the agricultural sector
Based on the type, the market is divided into non-anticoagulants and anticoagulants. The anticoagulant segment held a 75.54% market share of rodenticides in 2019. They are used on a large scale as they provide rodents with a painless death by preventing blood clotting. They are also less toxic to other animals, as well as humans. They are in great demand by the agricultural sector around the world. Hence, this kind of rat and mouse pest control would be sold more in the near future.
Fortune Business Insights™ lists the names of all well-known rodenticide manufacturers. Are the following:
- BASF SE – Germany
- Bayer AG – Germania
- Bell Laboratories Inc. – United States
- Neogen Chemicals – United States
- Rentokil Initial Plc – United Kingdom
- PelGar International – United Kingdom
- Lipatech, Inc. – United States
- Impex Europe – Spain
- EcoClear Products Inc. – Stati Uniti
- Syngenta SA – Switzerland
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Increased number of residential companies to drive growth in North America
In terms of geography, the market is split into Asia Pacific, South America, North America, the Middle East and Africa, and Europe. Of these, North America had $692.58 million in revenue in 2019. It is set to dominate the market in the near future. This growth is attributable to the growing number of residential companies in this region. Along with this, the growing demand for rodent control products and services would contribute to the growth of the market in this region.
Asia Pacific, on the other hand, is expected to show rapid growth over the forecast period, supported by ever-increasing population, especially in developing countries, such as India and China. Most people are engaged in agriculture in these countries. The growing population is urging farmers to provide maximum yield to meet unmet needs. Production is decreasing due to rodent attacks. Therefore, such attacks need to be curtailed. Furthermore, rodenticides are easy to use, cheap and very effective. These factors are increasing their popularity in this region.
Major players engage in mergers and acquisitions to broaden product portfolios
Major companies operating in the market aim to generate more sales by launching unique rodenticides in the market. Some of the renowned companies are also acquiring local players to boost their product portfolios. Some of the others are conducting awareness programs to let people know about the availability of various new rodent parasites and their benefits. Below are a couple of the latest key developments in the industry:
- November 2017 : Rentokil Initial, a UK-based business services group, announced the acquisition of Vector Disease Acquisition, LLC (VDA). The latter is a provider of a wide range of vector control services consisting of disease testing, species identification and weekly monitoring of mosquito levels. This transaction would help Rentokil strengthen its market position and meet the growing demand for mosquito control around the world.
- August 2017 : NEOGEN has launched an effective rodenticidal bait called DeciMax® Soft. It combines flexibility with superior palatability so it can be used in extreme weather conditions. It is also equipped with a second generation blood thinner called bromadiolone which would help control mice and rats effectively.
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