PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250690
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250690
According to Stratistics MRC, the Global Rodenticides Market is accounted for $2.39 billion in 2022 and is expected to reach $3.30 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Rodents are more well-known pests that cause crop damage in the field and during storage. They also serve as vectors for the spread of public health disorders such Hantavirus infection, plague, and typhus. This has increased the use of these items in residential, commercial, and industrial settings. The expansion of residential and commercial areas has increased pressure on government authorities to maintain cleanliness standards, which is expected to increase demand for these rodenticides.
According to the Office for National Statistics (UK) and HM Revenue and Customs, the total export value of rodenticides and molluscicides from EU and non-EU markets in the United Kingdom fell significantly from USD 43.6 million in 2013 to USD 4.7 million in 2018.
Increasing Integrated Pest Management (IPM) Techniques
More human illnesses and fatalities were caused by rats and mice than by any other group of mammals. Rodents have been linked to over 60 different diseases around the world, including plague, typhus, and Hantavirus. Rodents bring both human suffering and economic losses. The most efficient way to deal with rodent problems is to use an integrated approach to preventing rodent outbreaks and long-term rodent difficulties. Rodent integrated pest management (IPM) differs from most other types of mouse and rodent control. It is not always dependent on the usage of rodenticides. Rising integrated pest management methods, combined with growing worries about the spread of diseases such as plague, typhus, and others, is expected to fuel the worldwide rodenticides market growth.
Stringent Government Rules and Regulations
Government agencies rigorously oversee rodenticides and many other pesticides, which might hinder industry expansion. All pesticides must be registered with the United States Environmental Protection Agency (EPA) under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) before they can be sold or distributed. A pesticide classed as general-use is one that is unlikely to harm humans or the environment when used according to the label guidelines. For example, all rodenticide tracking powders are restricted-use and require an RUP licence to purchase or use. The strict and arduous regulatory criteria for launching a new rodenticide are projected to limit market expansion.
Environmentally friendly third generation anticoagulant rodenticides
Issues over the increased usage of synthetic pesticides, as well as their hazardous impact on other wildlife and humans, are driving producers to develop non-toxic and third-generation rodenticides. Natural products are seeing remarkable increase in the market as purchasers' safety concerns grow. The tissue persistence and non-target toxicity of second generation anticoagulant rodenticides (SGARs) has, however, prompted the development of a new third generation anticoagulant rodenticides which created a wide range of opportunities in the market growth..
Presence of alternative rodent control methods
Rodenticides are commonly employed to manage rodents in a variety of settings, including residential and commercial properties. However, utilising chemical rodenticides in metropolitan areas may have a harmful influence on the environment and live things nearby. The stringency of chemical rodent laws, as well as rat resistance to various anticoagulant rodenticides, has resulted in the development of alternate rodent control methods, such as mouse traps and adhesive pads. Furthermore, the lack of knowledge about chemical rodenticides and the ability to apply such treatments effectively pushes people to utilise mechanical methods which hinders the rodenticide market.
COVID-19 has had an influence on numerous manufacturing businesses, causing job closures, supply chain disruptions, and transit limitations. Yet, with various manufacturing facilities remaining in operation, there was no significant impact on their rodenticides' global operations and supply chain. Rodent control services are provided by service providers who adhere to sanitary and safety standards.
The Anticoagulant segment is expected to be the largest during the forecast period
The Anticoagulant segment is estimated to have a lucrative growth, as they are typically less harmful to humans and other animals than rodents. Furthermore, they do not correlate feeding on the bait with their condition. The anticoagulants that were previously used were referred to as first-generation anticoagulants. Chlorophacinone and diphacinone are the two most common active compounds on the market. Second-generation anticoagulant rodenticides are likewise hazardous at significantly lower doses.
The Pest control companies segment is expected to have the highest CAGR during the forecast period
The Pest control companies segment is anticipated to witness the fastest CAGR growth during the forecast period, due to people in many developed and developing countries prefer to engage a professional pest control applicator who is trained to use rodenticides safely and effectively. Hiring a pest control company is necessary to mitigate the effects of pesticide abuse and overuse, which are, in most circumstances, extremely harmful to the environment. The huge shift from utilising market baits to engaging a pest management business would save people from the toxicity and untargeted attack of multiple rodenticides. Pest control firms serve a wide range of industries, including the home, hotel, retail business, office complex, food processing sector, manufacturing facilities, agriculture, warehousing, schools, and electronics which is propelling the market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the increasing number of residential societies and the mounting damage caused by rodents are key factors in the region's dominance and expansion of rodenticides. Among all pests in the United States, rodents are the most dangerous. Throughout the forecast period, the growing number of new dwellings, combined with increased demand for rodent control products and services, is expected to boost the market within the area.
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to because of a variety of factors the fact that agriculture is one of the most important revenue-generating sectors in Asia's largest economies, such as China and India. The region's rapidly growing population is putting pressure on growers to produce as much as possible in order to meet the region's growing demand. In such circumstances, increased crop damage and decreased food production owing to rodents are predicted to positively impact this industry thereby propelling the market growth.
Some of the key players profiled in the Rodenticides Market include BASF SE, Bayer AG, Rentokil Initial Plc, Liphatech, Inc, Bell Laboratories Inc, EcoClear Products Inc, Syngenta AG, Neogen Corporation, Rollins, Pelgar, Abell Pest Control, Anticimex, Ecolab Inc, UPL Limited and Impex Europa
In March 2023, BTC Europe, BASF'S European distribution organization, and Sudarshan Chemical Industries, a manufacturer of high-quality pigments based in Pune, India, have signed an agreement on the distribution of organic and inorganic pigments as well as effect pigments in Europe.
In March 2023, BASF Shanghai Coatings (BSC) announced the opening of its new technical center building at the BSC Minhang site. The launch of the technical center building marks another milestone. With the brand-new outlook, BSC will better serve automotive OEM customers in China with its technology, products and services.
In March 2023, BASF and Cargill (Provimi) further expand their partnership to offer high-performance enzyme solutions to animal protein producers in South Korea, the partners will form a joint innovation pipeline for animal protein producers.
In Jan 2023, Bayer launches new collaboration with Oerth Bio to further advance innovations in crop protection, Oerth's unique PROTAC® protein degradation technology is expected to be a new, game-changing generation of more sustainable crop protection products.
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