New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pest Control Global Market Report 2023" - https://www.reportlinker.com/p06313433/?utm_source=GNW
, ServiceMaster Global Holdings Inc., Syngenta Crop Protection LLC, Terminix, Truly Nolen Pest Control, Adamas, Atalian Servest, Bell Laboratories Inc., JG Pest Control, Massey Services Inc., and PelGar International Ltd.
The global pest control market grew from $21.17 billion in 2022 to $22.85 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The pest control market is expected to grow to $31.44 billion in 2027 at a CAGR of 8.3%.
The pest control market consists of revenues earned by entities by providing chemical pest control, biological pest control and organic pest control.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The pest control is the process of managing (by using deterrents or repellents) or removing pests from the house or place of business.Pest control services include screening and sealing of openings to avoid entry of pests inside the premises.
It has various methods to control or prevent entry and infestation of pests. It helps in reducing illness and risk of harmful diseases and keeps the environment toxin-free.
North America was the largest region in the pest control market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the pest control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of pest control are insects, termites, rodents, and wildlife.Insects are any of a group of arthropods (such as bugs or bees) having a distinct head, thorax, and abdomen, only three pairs of legs, and usually one or two pairs of wings (Insecta).
They are controlled by chemical, mechanical, and biological methods with applications in powder, sprays, pellets, traps, and baits. They have applications in various industries such as commercial, residential, agriculture, and industrial.
Favorable government initiatives to promote the use of bio-based pesticides are driving the demand for the pest control market.Bio-based pesticides are living organisms or natural products that control agricultural pests including bacteria, fungi, weeds, viruses, and insects.
Bio-based pesticides are used in agriculture pest control techniques and the subsequent integration of appropriate measures that lead to more natural alternatives to chemical pesticides that are eco-friendly and safer.For instance, in March 2020, Central Insecticide Board and Registration Committee formulated simplified guidelines for the registration of biopesticides as compared to chemical pesticides.
The government of India launched ParamparagatKrishiVikasYojana (PKVY), Mission Organic Value Chain Development for North Eastern Region (MOVCDNER), and Capital Investment Subsidy Scheme (CISS) schemes for sustainable agriculture production to promote organic inputs and chemical-free products to improve the health of the people. Therefore, the favorable government initiatives to promote the use of bio-based pesticides, which in turn is expected to drive the growth of the pest control market.
Technological advancement are shaping the pest control market.Certain technologies will prevent or reduce the impact on nature.
These will include the destruction of crops humans and scheduled planting operations.For instance, in March 2021, Bayer AG, a Germany-based biotechnology and pharmaceutical company, launched Vynyty Citrus, a crop protection product based on pheromones and biology that will control pests on citrus farms.
Vynyty Citrus container is an innovative tool with an active liquid inside of it that doesn’t cause resistance or residues to build up in harvests or the environment.It is the first product of its kind to be available on the market that is made with natural pyrethrum and pheromones to control pests in citrus fruits.
By interfering with pests’ mating rituals, pheromones effectively suppress pest populations by preventing pest reproduction.
In January 2022, Pelsis Group is a UK-based global pest control technology company announced the acquisition of Brandenburg. for undisclosed amounts. Due to this acquisition, Brandenburg. will become part of Pelsis Group and works under Pelsis group. With this acquisition, Pelsis Group will enhance levels of product innovation, service, and support. Brandenburg is a US-based company that is known as a leading manufacturer of flying and biting insect control systems, producing products and technologies with vertically integrated manufacturing and in-house facilities in pest control.
The countries covered in the pest control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The pest control market research report is one of a series of new reports that provides pest control market statistics, including pest control industry global market size, regional shares, competitors with a pest control market share, detailed pest control market segments, market trends and opportunities, and any further data you may need to thrive in the pest control industry. This pest control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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