Global Rodenticides Market Size, Share, Growth Analysis, By Product(Anticoagulant and Non-anticoagulant), By Application(Pellets, Block and Powder & Spray), By End User(Agriculture, Pest control companies) - Industry Forecast 2024-2031

Global Rodenticides Market size was valued at around USD 4.79 billion in 2022 and is poised to grow from USD 4.98 billion in 2023 to USD 6.85 billion by 2031, at a CAGR of 4.06% over the forecast period (2024-2031).

The increasing costs associated with pest-related diseases, coupled with the burgeoning rodent population and heightened consumer demand for pest control solutions, alongside the availability of natural rodenticides, are poised to drive market growth significantly. Forecasts indicate a trajectory influenced by mounting concerns regarding the financial toll of rodent-induced damage to agricultural fields. However, this growth may be tempered by apprehensions surrounding the use of chemical substances and their potential adverse impacts on human health and the environment, resulting in stringent legal regulations governing product application. The proliferation of rodent populations remains a prominent catalyst for the spread of infectious diseases such as plague, hantavirus infection, and Lassa fever, posing threats to both ecosystems and public health. Consequently, there has been a notable surge in the adoption of various rodent control products across industrial, residential, and commercial settings. With a high demand observed in major urban centers globally, market participants are actively engaged in innovating new solutions aimed at effectively curbing rodent populations. Anticipated growth in demand is driven by the expansion of workplaces, healthcare facilities, hospitality establishments, and residences, coupled with an emphasis on maintaining stringent hygiene standards. Natural rodenticides emerge as an attractive option, given their non-toxic nature to humans, pets, and wildlife, along with their biodegradability. Their accidental consumption poses minimal risks to domestic animals and people, while also ensuring minimal harm to the environment. Moreover, their economic viability is underscored by their minimal requirements for special handling, storage, transportation, and disposal.

Top-down and bottom-up approaches were used to estimate and validate the size of the global rodenticides market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Rodenticides Market Segmental Analysis

Global Rodenticides Market is segmented based on product, form, application and region. Based on product the Rodenticides Market is segmented into anticoagulant and non-anticoagulant. Based on application the Rodenticides Market is segmented into pellets, block and powder & spray. Based on end user the Rodenticides Market is segmented into agriculture, pest control companies, warehouses, urban centers and households. Based on region the global Rodenticides Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Rodenticides Market

The heightened recognition of the significance of food safety and hygiene has spurred a rise in the need for rodenticides to manage rodent infestations in agricultural fields and food processing plants. With urbanization and industrialization on the uptick, the proliferation of buildings, factories, and warehouses has provided ample habitats for rodents, consequently escalating the demand for rodenticides to curb infestations in these environments.

Restraints in the Global Rodenticides Market

The application of rodenticides poses a significant threat to biodiversity, extending beyond targeted rodents to impact unintended species like birds, mammals, and insects. This indiscriminate poisoning can result in adverse ecological consequences, including population declines, disruptions in food webs, and habitat degradation. Birds of prey, for instance, may suffer secondary poisoning when they consume contaminated rodents, while mammals and insects may directly ingest or encounter the toxic substances.

Market Trends of the Global Rodenticides Market

An escalating inclination is observed in the direction of crafting rodenticides that prioritize safety and environmental friendliness, characterized by reduced toxicity levels and minimized harm to non-target organisms and ecosystems. This shift is motivated by mounting apprehensions regarding the detrimental impacts of traditional rodenticides on non-target species and ecological balance.