Northbrook, IL 60062 -- (SBWIRE) -- 12/01/2023 -- The global rodenticides market is experiencing significant growth, with an estimated value of USD 5.3 billion in 2022 and a projected reach of USD 7.1 billion by 2027. This report delves into key factors influencing the market, including types, applications, end-use sectors, and regional dynamics.

Download PDF Brochure

Key Findings:

Market Overview:

The rodenticides market is driven by rapid urbanization, increased awareness of public hygiene, prevention of vector-borne diseases, and rising purchasing power among the middle class. Government initiatives for environmental hygiene, such as India's "clean-up" movement, are contributing to the demand for pest control services globally.

Market Dynamics:

Challenges include the absence of uniform testing guidelines across regions, resulting in delayed product approvals. Lengthy approval procedures and growing resistance to chemical insecticides pose additional obstacles to market growth.

Urbanization Impact:

Rapid urbanization contributes to increased susceptibility to pests in urban areas. The shift from rural to urban living has led to a rise in urban populations globally, making cities incubators for new epidemics. Poor housing facilities due to urbanization create favorable environments for rodents and insects, leading to the spread of diseases.

Global Trade Trends:

Germany leads in rodenticide exports, followed by India, the US, the UK, Belgium, and Italy. Factors driving global demand include health awareness programs, crop losses, and rising health concerns due to rodent attacks. India is a leading importer due to its high population density and demand for pest eradication.

Make an Inquiry

Regional Insights - Asia Pacific:

Asia Pacific is expected to be the fastest-growing region, with a projected CAGR of 6.5%. China and India are key drivers, with agriculture being a significant revenue-generating sector. The demand for rodenticides is rising to combat crop damage caused by rodents and to meet the increasing food production requirements.

Key Players:

Major players in the rodenticides market include BASF SE (Germany), Syngenta (Switzerland), Bayer AG (Germany), UPL (India), and Rentokil Initial PLC (UK).

Conclusion:

The global rodenticides market is witnessing substantial growth, driven by urbanization, hygiene awareness, and government initiatives. Challenges such as regulatory variations and resistance to insecticides need addressing. The Asia Pacific region, led by China and India, is expected to be a key growth driver in the coming years.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441