Pest Control Market to Record Steady Growth by 2026

The global pest control market is projected to reach USD 29.1 billion by 2026, at a compound annual growth rate (CAGR) of 5.1% during the forecast period. It is estimated to be valued at USD 22.7 billion in 2021. Pest control has witnessed strong growth due to public health concerns and an increase in the frequency of pest infestations due to climate change. In countries such as the US, strong regulatory requirements concerning pest control and environmental protection laws have helped bolster market demand and attract service providers to set up business units. With the rise in demand and preference for a clean and pest-free environment, pest control manufacturers and service providers have been strategizing on coming up with innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend driving the market in terms of value sales. Manufacturers and distributors make the most of the Internet by spreading awareness about their products and services among target consumers and simultaneously generating revenue.

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Restraints : High registration costs and interminable time for product approval

Strict and rigorous regulatory requirements in the environmental protection sector apply to the manufacturer’s production processes and environments. Moreover, these vary with the policies of each country. The use of pest control products is subject to registration by health, environmental protection, and pest control agencies in various countries.

Governments evaluate policies related to the purchase, registration, formulation, application, and disposal of pesticides. Government policies affect the demand for and prices of pest control products. For instance, in the US, the use of pest control products is monitored by the EPA (Environmental Protection Agency) at a national level. It is subject to further regulation by state-level authorities.

By mode of application, powder witnesses increased demand from the residential sector

Powder is a popular form of insecticide used by pest control service providers. It is primarily used in the control of common pests such as ants, beetles, and cockroaches. The active ingredient differs based on the pests against which it is used. Common active ingredients such as cypermethrin and hydramethylnon are used in powder formulations. Powder formulations, even though effective, are also heavily regulated; for instance, hydramethylnon is classified by the US Environmental Protection Agency (EPA) as a potential carcinogen despite its minimal risk to humans; however, strict guidelines are to be followed by service providers to minimize the risk to humans and the surrounding environment. Powder formulations can be deployed for use in residential, commercial, and other settings, including transport facilities, to reduce or eliminate pest infestations.

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North America dominates the pest control market

The pest control market is dominated by a few pest control service providers, such as Rollins, ServiceMaster Global Holdings, Rentokil Initial, and Ecolab. Apart from these major players, there are many local players in the market. Many major players are acquiring or collaborating with local players to increase their market shares, enhance their service portfolios, and strengthen their presence.

For instance, on 1st March 2019, Rentokil Steritech (US) acquired Virginia-based Loyal Termite & Pest Control (US). It would help Rentokil expand its service in Virginia. Insects are the most common pests in the region. With increasing temperatures, the problem of bed bug and termite infestations has increased in the North American region. The US is the dominant market in North America. The consumption of pest control products in the US is comparatively higher than in other countries. Although the diversity of termites in the US is low compared to other regions, globally, due to increasing temperatures, termite colonies have been spreading across the US.

The key players in this market include Bayer AG, Corteva Agriscience, BASF, Sumitomo Chemical Co., FMC Corporation, Syngenta AG, ADAMA, and Bell Laboratories. These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities and strong distribution networks across these regions.