PUBLISHER: Grand View Research | PRODUCT CODE: 1405005
PUBLISHER: Grand View Research | PRODUCT CODE: 1405005
The global rodenticides market size is anticipated to reach USD 8.13 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.6% during the forecast period. Increased prevalence of rodent-related diseases and rising demand for rodent control are likely to be major factors driving market growth.
Increasing urbanization, coupled with demand to maintain high hygiene standards in the business, public, and residential sectors, is expected to augment demand. Over 54.0% of the world's total population resides in urban areas, which is likely to register an increase of 66.0% by 2025, according to the United Nations (UN). Increasing population and rising consciousness regarding healthy environment are likely to augment demand for rodenticides over the coming years.
Stringent government policies regarding active ingredients used in production of rodenticides is predicted to be a major limiting factor over the forecast period. For instance, in Canada, only zinc phosphide and strychnine are registered for use as rodenticides. Natural rodenticides use non-toxic and food grade ingredients approved by the EPA.
Rodenticide manufacturers are continuously engaged in research and development of active ingredients for production of superior quality products that provide higher efficiency. Companies lay high emphasis on increasing their regional presence in order to tap unexplored markets.