The implementation of strict government regulations in industrial regions to protect the environment and favorable government initiatives to promote the use of bio-based pesticides are driving the growth of the global pest control market. By type, the chemicals segment had the largest share in 2019. By region, however, the Asia-Pacific region was the top-selling region in the same year.
Portland, OR, March 25, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Pest Control Market was set at $ 20.6 billion in 2019 and is valued at $ 30.0 billion by 2027, representing a CAGR of 5.2% from 2020 to 2027. The report provides an in-depth analysis of the key investment pockets, key profit strategies, drivers and opportunities. Market size and estimates, the competitive landscape, and changing market trends.
The implementation of strict government regulations in industrial regions to protect the environment and favorable government initiatives to promote the use of bio-based pesticides are driving the growth of the global pest control market. On the other hand, toxicity and health problems due to chemicals contained in pesticides impede growth to some extent. However, ongoing R&D activities to increase reliance on bio-based pesticides are expected to create lucrative opportunities in the industry.
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The COVID-19 outbreak led to changes in consumer habits around the world, which in turn had a negative impact on the pest control market.
However, several government agencies have begun to offer subsidies to the market, which has proven beneficial to the sector.
The global Pest Control Market is analyzed by type, pest type, application and region. By type, the chemical segment accounted for nearly a third of total market revenue in 2019 and is expected to dominate by the end of 2027. At the same time, the mechanical segment would have the fastest CAGR of 5.9% from 2020 to 2027.
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In terms of pest species, the insect segment accounted for almost two-fifths of the total market share in 2019 and is expected to remain dominant through 2027. At the same time, the rodent segment would report the fastest CAGR of 6.6% during the forecast period.
Geographically, North America held the largest share and generated nearly half of the global pest control market in 2019. The Asia-Pacific market, on the other hand, would represent that fastest CAGR from 7.9% by 2027. The other two regions analyzed in the report include Europe and LAMEA.
Leading market players analyzed in global Pest Control Market report include Dodson Pest Control Inc., Anticimex, BASF SE, Bayer AG, Cleankill Pest Control, Eastern Pest Control, Eco Environmental Services Ltd., Lindsey Pest Services, and The Service Master Global Holdings Inc., Ecolab, FMC Corporation, JG Pest Control, NBC Environment, Rentokil Initial plc, Rollins Inc. and Syngenta. These market participants have pursued various strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their status in the industry.
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