Rodenticide Market Sales Revenue to Cross USD 7.1 billion by 2027, Persistence Market Research
The “Global Rodenticide Market” is expected to grow steadily in the coming years due to an increase in demand for pest control. According to a new market research report published by Persistence Market Research, the market is projected to reach USD 5.4 billion in 2022 to USD 7.1 billion by 2027, growing at a CAGR of 5.8% from 2023-2027.
Rodenticides are chemical substances that are used to kill or control rodents, including mice, rats, and other pests. Rodenticides are chemicals designed to control rodent populations. With the global population on the rise, the demand for food production has also increased. Unfortunately, this has led to an increase in the number of rodents that feed on crops, causing significant damage to food production. To address this problem, the use of rodenticides has become an essential tool for farmers, pest control companies, and households alike.
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Rodenticide Market Driving Factors
Increasing demand from the agricultural sector: Rodents can cause significant damage to crops and food storage facilities, leading to substantial financial losses for farmers. As a result, the agricultural sector is a major consumer of rodenticides.
Growing awareness of health risks associated with rodent infestations: Rodents can carry and transmit a variety of diseases, including Hantavirus, Salmonella, and Leptospirosis, among others. This has led to an increased demand for effective rodent control measures to protect public health.
Rising urbanization: Urban areas provide ideal habitats for rodents due to the abundance of food and shelter. As urbanization continues to increase, the demand for rodent control measures is also expected to rise.
Advancements in product formulations: The development of more effective and safer rodenticide formulations has increased the popularity of these products among consumers and pest control professionals.
Regulatory frameworks: Regulatory bodies such as the Environmental Protection Agency (EPA) play a crucial role in the approval and registration of rodenticides. As regulations become stricter, the use of safer and more eco-friendly rodenticides is likely to increase.
The rodenticide market is expected to continue to grow in the coming years, driven by increasing demand from the agriculture and urbanization sectors, as well as the need for effective pest control methods to protect public health. However, the market may face challenges from regulatory restrictions and the increasing popularity of alternative pest control methods such as integrated pest management.
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Market Segmentation:
By Type:
The anticoagulant rodenticides market segment is predicted to occupy the bulk of the rodenticides market share throughout the forecast years due to a number of factors. They stop blood clots from forming. Internal bleeding from anticoagulant rodenticide bait results in a painless and simple demise for rodents. Afterwards, they gradually get worse over a few days. Rodents don’t show any dislike for bait. Moreover, they do not link their condition to consuming the bait. Anticoagulants often pose less of a threat to people and other animals than rodents.
By Type (Anticoagulant Rodenticides, First Generation Anticoagulant, Second Generation Anticoagulant, Non-Anticoagulant Rodenticides)
By End User (Agricultural Field, Warehouse, Urban Centers, Residential, Commercial)
By Application (Pellet, Spray, Powder)
The Asia Pacific region is expected to dominate the rodenticide market, accounting for a significant share of the global market. This can be attributed to the region’s high population density, growing demand for food production, and increased awareness of the need for pest control.
Key players in the global rodenticide market include BASF SE, Bayer, Syngenta, UPL, Liphatech Inc., JT Eaton, Neogen Corporation, Pelgar International, Rentokil Initial PLC., Senestech, Inc., Anticimex, Bell Labs, Abell Pest Control, Impex Europa Sl, Rollins, Inc., Terminix, Ecolab, Truly Nolen, Inc. These companies are expected to continue investing in research and development to develop more effective and eco-friendly rodenticide products.
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Rodenticide Market Recent Developments:
In August 2019, BASF SE announced the launch of “Storm Ultra Secure”. This is a new rodenticide offered by the company to professionals and amateurs. The product contains 25 parts per million (ppm) of the active substance flocoumafen and the product is available in a variety of sizes.
In November 2017, Rentokil Initial plc., a prominent rodent control company acquired 100% shares of Vector Disease Acquisition, LLC, North America’s largest provider of mosquito control services. This acquisition will help Rentokil Initial plc. to increase its prominence in North America’s market.
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