The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“Rising urbanization is causing displacement of rodents which is driving the rodenticides market”.
The global rodenticides market size is estimated to be valued at USD 4.9billion in 2020 and is projected to reach USD 6.6billion by 2026, recording a CAGR of 5.0%. The increase in demand for rodent pest control services from the hospitality and tourism sectors is the major opportunity in rodenticides market.
The growth of this market is projected to remain high due to the growing population of rodents, an increase in urbanization, along with the rise in instances of crop losses and other economic damages caused by rodents. The rodenticides market has high growth potential in developing countries, such as the Asia Pacific region, as the economic conditions in several countries in this region are favorable. There is also an increase in the per capita income, which leads to a rise in demand for hygienic living conditions.
The recent COVID-19 pandemic is expected to impact the global rodenticides industry. The supply chain has been disrupted due as the result of government imposition of lockdown across many regions. This has reduced many stakeholders involved in supply chain from taking the products to destined place. The demand is relatively stable, but the limited supply to the distributors or retailors is stopping the product to reach out to the customers. The labour shortage and reduce supply of raw materials is a major issue due to the restrictions on the movement of people or vehicles. The pandemic of COVID-19 has resulted in the closure of restaurants and other businesses, due to which rats are being seen on the streets in the daylight, thus defying their normally nocturnal behavior. Due to these factors, the demand for rodenticides is projected to increase amidst the pandemic.
“Anticoagulants: The largest growing segment in the rodenticides market, by rodenticide type”.
Anticoagulants rodenticides accounted for the largest share in the rodenticides market in 2020. Anticoagulant active ingredients, such as bromadiolone and brodifacoum, are extensively preferred in the US for rodent control, and majorly, products formulated with these active ingredients have been approved by the regulation authority across Europe. Among the anticoagulant rodenticides, second-generation active ingredients are preferred due to their high effectivity.
“Pellet: The largest growing segment in the rodenticides market, by rodenticides mode of application”.
By mode of application, the market for rodenticides is segmented into pellet, spray and powder. Pellets are the most widely used mode of application across the globe, mainly due to ease to use with baits and its availability in different flavors, which makes it more attractive for luring rodents. In addition, the formulation of these pellets with a higher concentration is easier than other modes.
“North America: The largest-growing segment in the rodenticides market”.
In 2020, North America accounted for the largest share in the rodenticides market owing to the increasing number of product launches from major players in the market, such as Bayer AG (Germany), BASF SE (Germany), and Neogen Corporation (US). The region is projected to dominate the rodenticides market due to the increased demand in the US, as the Northeast part of the US reported high instances of rodent attacks. North America shelters more than 400 species of rodents. Norway rats, roof rats, cotton rats, and rice rats cause losses to crops, pasture, and rangeland forage.
Break-up of Primaries
- By Manufacturer (Designation): Managers & Executives-60%, Junior-level Employees -20%, and Managing Directors-20%
- By Designation: CXOs–30%, Managers - 50%, and Executives-20%
- By Country: US – 20%, India – 55%, Spain – 20%, China – 5%
This report segments the rodenticides market based on type, rodent type, end-use sector, mode of application, and region. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the nematicides industry, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
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