Pest Control Market worth 22.04 Bn USD by 2021

Wednesday 28 September 2016, Amsterdam

The report, now available on ASDReports, "Pest Control Market by Type (Chemical Control, Mechanical Control, Biological Control), Pest Type (Insects, Termites, Rodents, Wildlife), Application (Commercial, Industrial, Residential, Agricultural), and Region - Global Forecast to 2021", The pest control market is projected to reach a value of USD 22.04 Billion by 2021 at a CAGR of 5.3% from 2016. The market is driven by factors such as developing economies, easy availability of pest control service providers, and increasing pest population. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.

Biological pest control to be the fastest-growing segment, by type, from 2016 to 2021

The biological pest control segment is projected to grow at the highest CAGR from 2016 to 2021. Biological control includes the beneficial action of parasites, pathogens, and predators in managing pests and avoiding pest infestation. Biocontrol provided by these living organisms, collectively known as natural enemies, is important for reducing the number of pest insects and mites.

Agriculture application segment depicts high potential for the pest control market

Agricultural pests belong to a broad spectrum of organisms, including insects, mites, ticks, mice, rats, other rodents, snails, nematodes, slugs, cestodes, fungi, bacteria, weeds, viruses, and other pathogens. Agricultural crops are of substantial importance to the global economy and are vital across sectors such as animal husbandry and poultry, which feed upon fodder crops. The agriculture application in the pest control market is growing as there is increased demand for crop protection to avoid losses. Drastic change in climate is also causing an increase in pest population.

Significant growth potential for pest control is observed in the Asia-Pacific region

Asia-Pacific has a high-growth potential for pest control. This region has emerging economies, such as China and India, which have considerable cultivable land to grow crops. Moreover, China is among the leading countries for pest control due to urbanization and technological growth in agriculture. This has led to higher standards of living among consumers, resulting in the rise in demand for pest control products and services.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such BASF SE (Germany), Bayer AG (Germany), Ecolab (U.S.), Syngenta AG (Switzerland), and Rentokil Initial plc (U.K.).