Seattle, Jan. 23, 2019 (GLOBE NEWSWIRE) -- The global pest control services market was valued at US$ 16,179.8 Million in 2017 and is projected to exhibit a CAGR of 5.1% over the forecast period (2018–2026).

Key Trends and Analysis of the Pest Control Services Market:

Among region, Asia pacific is expected to witness rapid growth, owing to growing agricultural sector in economies such as India. According to India Brand Equity foundation report on agriculture and allied services, November 2018, food grain production in India is projected to reach 284.83 million tons during 2017-18 crop year. Moreover, the report also states that Government of India is focused on increasing the food grain production to 285.2 million tons in 2018-19. Therefore, growing agriculture sector is expected to propel demand for pest control services for crop protection against various pests.

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According to Coherent Market Insights’ analysis, chemical control service segment held a dominant position in the global pest control services market in 2017. This is owing to advantages of chemical control services such as easy and quick application and effectiveness of chemical treatment for pest control. For instance, chemical treatment such as of borates offers an affordable, durable, and safe treatment system as they inhibit fungal decay and are fatal to termites, carpenter ants, and cockroaches, and simultaneously is safe for use for humans and the environment.

Key players operating in the pest control services market are focused on developing new products and technologies in order to enhance their market share. For instance, in 2017, Engineering Technique Services (ETS) introduced Rodent Bait Station (RBS) for rodent control, which reduces high usage of pesticides.

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Key Market Takeaways:

  • According to Coherent Market Insights’ analysis, North America held significant market share in the global pest control services market in 2017. This can be attributed to Environmental Protection Council which made the production of pesticides and insecticides mandatory in this region. According to the data reported by FAOSTAT for 2016, average use of pesticides per area of cropland was 2.38 kg/ha in 2016 in Northern America.
  • Some of the major players operating in the global pest control services market include, BASF SE, Bayer AG, Syngenta AG, DOWDUPONT Inc., FMC Corporation, Rentokil Initial Plc., Ecolab Inc., Bell Laboratories, Inc., Rollins, Inc., and The Terminix International Co. Ltd.
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