Pest Control Market categorizes the Global Market by Type (Chemical Control, Mechanical Control, Biological Control), Pest Type (Insects, Termites, Rodents, Wildlife), Application (Commercial, Industrial, Residential, Agricultural), and Region.
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Pest Control Market Expected to Reach 22.04 Billion USD by 2021
Source: MarketsandMarkets Analysis
The global pest control market has grown exponentially in the last few years. The market size is projected to reach USD 22.04 Billion by 2021, at a CAGR of around 5.3% from 2016. Emerging countries such as India, Japan, and Australia are the primary targets of the industry as they demand hygienic environmental conditions. Factors such as developing economies, climatic changes, easy availability of pest control service providers, and increasing pest population are some of the major drivers of this market.
The pest control market, on the basis of type, is segmented into chemical control, mechanical control, and biological control. The biological control segment is projected to grow at the highest CAGR during the forecast period. An increase in the demand for organic agricultural produce has led to the need for quality crop yield and reduction in losses of agricultural commodities due to pest infestation.
The pest control market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. New product launches, acquisitions, agreements, and expansions are the key strategies adopted by players to ensure their growth in this market. The market is dominated by players such as BASF SE (Germany), Bayer AG (Germany), Ecolab (U.S.), Syngenta AG (Switzerland), and Rentokil Initial plc (U.K.). These collectively accounted for the largest portion of the pest control market in 2015. Other players, such as FMC Corporation (U.S.), Rollins, Inc. (U.S.), Terminix International Company, L.P (U.S.), Bell Laboratories Inc. (U.S.), and the Dow Chemical Company (U.S.), also have a strong presence in this market.
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