Pest Control Market is Expected to Grow from 23.01 Billion 2023 to reach 34.78 Billion in 2031 | SkyQuest Technology
/EIN News/ -- Westford, USA, July 26, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Pest Control Market will attain a value of USD 34.78 Billion by 2031, with a CAGR of 5.3 % during the forecast period (2024-2031). In recent times, the demand for pest control has immensely increased due to the changing climatic conditions and an increase in the population of pests worldwide. Augmenting incidences of deadly human infections triggered by some specific pests is also propelling the growth of pest control market. Moreover, growth of the pest management sector, introduction of new integrated pest management programs, and rising government support for IPM is also positively influencing the market. Recently, rapid migration has been witnessed from rural areas to urban centers, especially in the emerging nations. This has immensely increased the population density of the developed areas, resulting in high demand for pest control products and services. Rising concern of people from residential and commercial sectors about maintaining health and hygiene has also accelerated the adoption of pest control services, boosting the growth of the market.
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Browse in-depth TOC on the "Pest Control Market"
- Pages - 165
- Tables - 91
- Figures – 76
Pest Control Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 23.01 Billion |
| Estimated Value by 2031 | $ 34.78 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.3 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Pest Type, Control Method, Application, Mode of Application |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing implementation of digital and technological applications |
| Key Market Opportunities | Growing urbanization and construction activities leading to more breeding area |
| Key Market Drivers | Climate change is increasing the growth of pests requiring pest control |
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Rising Popularity of Digital Pest Control Service to Reduce Use of Toxic Chemical Pesticides
In the last few years, the pest control market has become digitalized and technologically innovative with the incorporation of unique processes of prevention from pests. The recent trends towards sustainability, strict regulations, and increasing demand for non-toxic materials, and sustainability are also pushing the market towards advanced digitalization. The use of digital devices is also proving to be beneficial for financially robust and top companies. These organizations are using technologies like sensors, smartphones, mobile connectivity, apps, and data analytics to enhance the quality of services. With the help of digital traps, sensors, and cameras it becomes easy to monitor and control the activities of rodents. It constantly monitors and reports directly to the database hub. Sensors can also help to identify the hidden areas of pests. This is helping the companies to offer new levels of efficiency, speedy response, and productivity, propelling market growth.
Increasing Population Leading to Growth in Urbanization is Contributing towards Market Expansion
The increase in population is resulting in the growth of industrialization and construction activities for residential and commercial infrastructures. This is one of the main factors that is supporting the growth of the pest control market. Today people are more aware about hygiene, cleanliness, and health hazards that are related to infestation of pests. This is increasing the demand for pest control products and services. Moreover, sectors like food & beverages and agriculture can also go through huge economic loss due to pest infection. This is immensely contributing to the expansion of the market.
Stringent Pest Control Laws to Increase Demand for Pest Control and Service in North America
At present, North America is leading the pet control market because of its strict laws related to pests’ control, high-risk awareness, and a massive number of providers. Many companies are also investing in the advancement of new efficient pest control devices in this region. People are also becoming more concerned about their health and cleanliness, leading to a rapid growth of pest control services in the United States. The necessity of pest management at businesses, farms, and homes is supporting the market expansion. The region of Asia-Pacific is also growing rapidly due to urbanization, increasing population growth, and awareness of pest control for health and safety, driving the market growth.
Pest Control Market Insights
Drivers:
- Increasing instances of vector-borne diseases like malaria is driving demand for pest control
- Climatic change has increased the growth of insects and pest control is necessary for controlling
- Rising adoption of digital and technological applications to efficiently target pests
- Growing Urbanization and construction activities to increase breeding grounds for pests
Restraints
- Chemical pesticides have negative impact on the human health like acute poisoning
- Regulatory constraints on pesticide manufacturing and selling hinders the market growth
- High expense of pest control service restrains the growth of the market
- Chemical pesticides can cause harm to the environment
Key Players in the Pest Control Market
The following are the Top Pest Control Companies
- Anticimex International AB (Sweden)
- BASF SE (Germany)
- Bayer AG (Germany)
- Syngenta Crop Protection, LLC (Switzerland)
- Rollins, Inc. (Georgia)
- Rentokil Initial plc (UK)
- Dodson Pest (US)
- FMC Corporation (US)
- ADAMA (Israel)
- RATSENSE (Singapore)
- Brandenburg (Germany)
- Orkin LLC (US)
Key Questions Answered in the Pest Control Market Report
- What are the key factors challenging the pest control market growth?
- What are the factors influencing the growth of the pest control market?
- Who are the major players operating in the market?
- Which region is holding the highest share in the market?
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This report provides the following insights:
- Analysis of key drivers (Increasing incidences of vector-borne diseases, impact of climate change, and urbanization and construction activities), restraints (Health and environmental concerns and regulatory constraints), opportunities (Rise of integrated pest management and adoption of digital and technological applications), and challenges (High expense of pest control service and negative impact on human health) influencing the growth of pest control market
- Market Penetration: Comprehensive information on the product offered by the top players in the pest control market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the pest control market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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