PUBLISHER: The Business Research Company | PRODUCT CODE: 1429934
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429934
Rodenticides are formulated from substances that are frequently hazardous and commonly found in households. Typically, these rodenticides are created as baits designed to attract animals, with various flavors such as fish oil, molasses, or peanut butter to lure rodent pests. Rodenticides are employed for the purpose of exterminating rats, mice, and other types of rodent pests.
The main categories of rodenticides are anticoagulant and non-anticoagulant. Anticoagulants act as blood thinners that eliminate rodents by preventing normal blood clotting. These rodenticides come in different forms such as pellets, sprays, powder, and others, and find applications in various settings including agricultural fields, warehouses, pest control companies, and other relevant areas.
The rodenticide report is one of a series of new reports from The Business Research Company that provides rodenticide statistics, including rodenticide industry global market size, regional shares, competitors with a rodenticide share, detailed rodenticide segments, market trends and opportunities, and any further data you may need to thrive in the rodenticide industry. This rodenticide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rodenticide market size has grown strongly in recent years. It will grow from $6.64 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The expansion observed during the historical period can be attributed to the increased awareness about sanitation and hygiene, a rise in demand from the hospitality and tourism sectors, an increase in construction activities, heightened damage caused by rodents, and an uptick in vector-borne diseases.
The rodenticide market size is expected to see rapid growth in the next few years. It will grow to $10.91 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to the growing agricultural industry, the increasing number of warehouses, rising urbanization, and the growing issue of food waste. Key trends expected during the forecast period include the adoption of fast-acting rodenticides to swiftly eradicate rodent infestations, the introduction of direct-to-consumer (D2C) rodenticide platforms, specifically targeting specialized pest control companies or licensed professionals due to safety concerns. Additionally, there is a focus on product innovations and the development of new solutions to strengthen market positioning, along with a concentration on partnerships and collaborations to enhance product portfolios and expand geographical presence.
The rodenticide market is anticipated to experience growth, propelled by the expansion of the agricultural industry. The agricultural industry, encompassing enterprises engaged in cleaning, processing, storing, or packing agricultural products, extensively employs rodenticides to safeguard crops from rodent pests such as rats and mice. For instance, the United States Department of Agriculture reports an increase in soybean and corn plantations in the U.S. Additionally, the Indian agricultural sector is predicted to grow to USD 24 billion by 2025. Thus, the upward trajectory of the agricultural industry is a key factor driving the rodenticide market.
The growth of warehouses is poised to drive the rodenticide market in the foreseeable future. Warehouses play a crucial role in storing goods at various stages of the value chain, meeting end-user demands. The demand for warehouses has surged, driven by factors such as the COVID-19 lockdown, increased e-commerce activities, and a rise in internet shopping. A study by Interact Analysis predicts a significant increase in the global stock of warehouses by 2025 to address the demands of e-commerce. With the rise in the number of warehouses, there is a heightened risk of rodent infestations, fueling the demand for rodenticides.
The construction boom is a significant factor contributing to the growth of the rodenticides market in the forecast period. The increased construction of residential and commercial buildings, fueled by industrialization and urbanization, has led to a surge in rodenticide use. Rodents pose a threat to constructions, causing damage to wiring and walls. With construction activities on the rise globally, the need for rodenticides to protect buildings from rodent damage is expected to grow.
Product innovation is emerging as a notable trend in the rodenticide market, with companies focusing on developing effective solutions to control rodent infestations. BASF SE, for instance, launched an innovative rodenticide in April 2021 to address super-rat resistance in the UK. This product utilizes cholecalciferol as the active ingredient, providing an effective solution against super-rats. Major companies such as Syngenta are also introducing new rodenticide formulations, such as Talon Soft XT, to offer efficient control of challenging rodent populations.
Major companies operating in the rodenticide market report are BASF SE, Syngenta, Bayer AG, Neogen Corporation, UPL Limited, Bell Laboratories Inc., Liphatech Inc., PelGar International, JT Eaton, Impex Europa, India Pesticides Limited, United Phosphorus Ltd., Kalyani Industries Limited, Sumitomo Chemical India Limited (SCIL), Dow AgroSciences Australia Ltd., Rentokil Initial PLC, Mitsui Chemicals, TAE IL COMPANY, Sinochem International Corporation, China National Chemical Corporation, We-Young Industrial & Trading Co. Ltd., Shijiazhuang Awiner Biotech Co. Ltd., Shandong Dongtai Agricultural Chemistry Co. Ltd., Sunking Chemical Industrial Co. Ltd., Anticimex, Industrialchimica, Fregata S.A., ItalTiger, ZEP Inc., EcoClear, Senestech Inc., Arch Quimica Argentina Srl, Lectus Sa., Alexander Chemical Company, Dow Agrosciences De Colombia S.A., Brinsa S.A., BioDalia Microbiological Technologies, Ecovar Trading LLC, Al Mubarak Agro-Chemicals, VAPCO Manufacturing CO. Ltd., Kassar Group, KZ pesticides company, Enviro Bio-Chem, Synvita, Degesch South Africa
North America was the largest region in the rodenticide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rodenticide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the rodenticide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The rodenticide market consists of sales of non-anticoagulant rodenticides such as bromethalin, zinc phosphide and cholecalciferol. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Rodenticide Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rodenticide market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rodenticide? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rodenticide market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.