Rodenticides Market Outlook
Rodenticides market are chemicals used to kill rodents, such as rats and mice. They are one of the most widely used pest control products in the world, with a global market size of over USD 10 billion. Rodenticides are used in a variety of settings, including homes, businesses, farms, and warehouses. In 2022, the Rodenticides Market Size reached a value of USD 4.9 billion. The industry is poised for substantial growth, with projections indicating a rise from USD 5.13 billion in 2023 to USD 7.47 billion by 2032. This growth is anticipated to be driven by a noteworthy compound annual growth rate (CAGR) of 4.80% throughout the forecast period spanning from 2023 to 2032. The increasing adoption of integrated pest management (IPM) strategies and the escalating instances of rodent-induced damage serve as pivotal factors fuelling the market’s expansion. Moreover, the widespread utilization of rodenticides by pest control firms across major global economies has significantly boosted the demand for rodent-resistant products.
Market Drivers
The rodenticides market is driven by several factors, including:
- Increasing urbanization: Urban areas provide rodents with ample food and shelter, which contributes to their population growth.
- Changing food habits: People are eating more processed foods and less fresh produce, which provides rodents with a more abundant food source.
- Climate change: Climate change is causing warmer winters and longer growing seasons, which allows rodents to expand their range and become more prolific.
- Increased awareness of the risks of rodents: Rodents can carry diseases such as hantavirus and salmonellosis, which can be transmitted to humans. This has led to increased awareness of the risks of rodents and increased demand for rodenticides.
Market Trends
The rodenticides market is undergoing several trends, including:
- Shift towards second-generation anticoagulants (SGAs): SGAs are a type of rodenticide that works by preventing blood from clotting. They are more effective than first-generation anticoagulants (FGAs), but they are also more toxic. As a result, there is a shift towards the use of SGAs, especially in commercial settings.
- Growing demand for non-toxic rodenticides: There is a growing demand for non-toxic rodenticides, especially among consumers who are concerned about the safety of their families and pets. Non-toxic rodenticides typically work by trapping or repelling rodents.
- Increasing adoption of digital pest control solutions: Digital pest control solutions use technology to monitor and control rodents. These solutions can be more effective and efficient than traditional methods of rodent control.
Market Segmentation
The rodenticides market can be segmented by product type, application, and distribution channel.
By product type, the market is segmented into:
- Anticoagulants: Anticoagulants are the most widely used type of rodenticide. They work by preventing blood from clotting, which causes the rodent to bleed to death.
- Non-anticoagulants: Non-anticoagulants work in a variety of ways, such as trapping, repelling, or suffocating rodents.
By application, the market is segmented into:
- Residential: Rodenticides are used in homes to control rodents.
- Commercial: Rodenticides are used in commercial settings, such as restaurants, hotels, and office buildings, to control rodents.
- Agricultural: Rodenticides are used on farms to control rodents that can damage crops and livestock.
By distribution channel, the market is segmented into:
- Offline: Offline distribution channels include retail stores and pest control companies.
- Online: Online distribution channels include e-commerce websites and social media platforms.
Get Free Sample PDF Brochure Report : https://www.marketresearchfuture.com/sample_request/10125
Market Outlook
The rodenticides market is expected to grow at a CAGR of over 5% during the forecast period of 2023–2028. This growth will be driven by the increasing urbanization, changing food habits, climate change, and increased awareness of the risks of rodents.
The Asia Pacific region is expected to be the fastest-growing market for rodenticides during the forecast period. This growth will be driven by the rapid urbanization and growing middle class in the region.
Some of the key players in the rodenticides market include:
- BASF SE
- Bayer AG
- Syngenta AG
- Rentokil Initial plc
- Lonza Group AG
- Bell Laboratories, Inc.
- Neogen Corporation
- PelGar International
- Liphatech, Inc.
- JT Eaton & Company, Inc.
- Ecolab Inc.
The rodenticides market is expected to grow steadily in the coming years, driven by a number of factors, including increasing urbanization, changing food habits, climate change, and increased awareness of the risks of rodents. The Asia Pacific region is expected to be the fastest-growing market for rodenticides during the forecast period.
Browse In-depth Market Research Report (90 Pages) On Report : https://www.marketresearchfuture.com/reports/rodenticides-market-10125
Additional Information
In addition to the information provided above, here are some additional facts about the rodenticides market:
- Rodents are responsible for billions of dollars in damage to property and crops each year.
- Rodents can carry diseases that can be transmitted to humans, such as hantavirus and salmonellosis.
- There are a variety of rodenticides available, including anticoagulants, non-anticoagulants, and digital pest control solutions.
- The rodenticides market is expected to
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), and Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team has a supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which helps to answer all their most important questions.
To stay updated with the technology and work process of the industry, MRFR often plans & conducts meetings with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office №104, Pentagon 4 Magarpatta City, Hadapsar,
Pune — 411013 Maharashtra, India
Tel. (0) + 91 8411985042 / 020 640000195