The rodenticides market is estimated to be valued at USD 4.7 billion in 2019 and is projected to reach USD 5.9 billion by 2025, at a CAGR of 3.7% during the forecast period. The growth of the rodenticides market is driven by factors such as the increasing rodent population at the global level and the increasing awareness towards health and hygiene.
The anticoagulant rodenticides segment is projected to have a faster growth rate during the forecast period. The higher effectivity of these active ingredients in rodents is the major reason for their high demand from pest control operators in developed countries. Constant research on different active ingredients leads to the emergence of a new generation of anticoagulant products. With the growing resistance of rodents towards first-generation and second-generation anticoagulants, researchers have been now planning to develop third- generation active ingredients. Also, with the high toxicity level of each active ingredient, government, especially in Europe, has been supporting the development of biological rodenticides.
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The formulation of rodenticide products in the pellet form has been most common in the market owing to their ease of application in urban areas, and reduced toxicity level. Also, pellet forms are easy to blend or coat with bait, which helps attract rodents. Since rodenticide consumption has been higher for urban centers, the preference for pellets is witnessed to be higher in both developing and developed countries, and hence, pellets have a better growth opportunity in the market.
The Asia Pacific rodenticides market has comparatively better potential in the coming years. The region has also been susceptible to the effects of climate change that have had a profound impact on the rodent population. However, due to the developing economic conditions prevailing in the region, mechanical control methods are preferred by the urban population. However, awareness about the effectivity of chemical agents has spurred the adoption of rodenticides in the region. China is projected to be the fastest-growing market for rodenticides in the region and has displayed notable growth potential. Not only in Asia Pacific, but globally, the growth in the rodenticides market has been observed, owing to the increased damages caused by rodents. For instance, approximately USD 19 billion has been incurred by the US government due to the damages caused by rodents. This figure is much higher in France, India, and China. Also, the gradual adoption of rodenticides in African countries can further propel the growth of this market.
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This report includes a study of the development strategies, along with the product portfolios of leading companies. It also includes the profiles of the companies in the rodenticide product market. These include BASF SE (Germany), Bayer (Germany), Syngenta (Switzerland), UPL (India), Liphatech Inc. (US), JT Eaton (US), Neogen Corporation (US), Pelgar International (UK), Senestech Inc. (US), Bell Laboratories (US), and Impex Europa (UK). The key players profiled under the rodenticide service market include Rentokil Initial Plc (UK), Terminix (US), Ecolab (US), Anticimex (Sweden), Rollins (US), Truly Nolen (US), and Abell Pest Control (Canada).
Recent Developments:
- In January 2019, Turner Pest Control, a Jacksonville-based Anticimex company acquired Brandon Pest Control (US). It is USD 8 million company that deals with pest control service provision. The acquisition is the part of company’s aggressive growth strategy.
- In April 2018, BASF (US) launched Selontra rodent bait, a soft bait formulation. This products is cholecalciferol based rodenticide which helps the professionals for rodent control.
