Reportocean.com have announced the addition of a new report titled "Pest Control Market and Forecast to 2025"
Delhi, India -- (SBWIRE) -- 11/25/2019 -- Based on the latest insights in the report title " Pest Control Market by Type (Chemical, Mechanical, Biological, and Others), Pest Type (Insects, Termites, Rodents, and Others), and Application (Commercial, Residential, Agriculture, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025" by Report Ocean, the market is estimated to reach $27,609.8 million by 2025 growing at a CAGR of 5.2%.
The report published on the global pest control market revealed the growth to be at a CAGR of 5.2% from the period between 2018 and 2025. The valuation of the smart pills market was further stated to surpass its previous valuation of $18,214.7 million in 2017 and generate a projected revenue of $27,609.8 million by the end of 2025.
The global pest control market is seeing a surge in growth primarily due to the rising awareness among people about the need for pest control measures. Moreover, there has been a growing concern about health across the globe, which is also pushing the market towards a positive direction. The high demand for effective pest control solutions is expected to continue in the coming years and augment the overall growth of the market.
The global pest control market has been segmented in terms of type, pest type, and applications.
By type, the market is segment into biological, mechanical, chemical, and others. The chemical segment is attracting major demand in the global market landscape due to its toxic and poisonous nature that severely helps in pest control. The segment covered 31.8% of the market share back in 2017 and is expected to gain positive growth in the coming years. Its usage can be attributed to its simplicity of applications, stability, ease of availability, relatively low cost, and effectiveness.
By pest type, the market includes termites, rodents, insects, and others.
By application, the market comprises agriculture, industrial, commercial, residential, and others. The commercial sector of the market held 42.7% of the market back in 2017 and is anticipated to garner even more growth in the coming years.
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The global pest control market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa.
The climatic conditions in Asia Pacific, particularly in parts of Western and Southeast Asia, is suitable for breeding different types of insects. The warm temperatures herein help in acting as the breeding grounds for insects, thereby encouraging their fast development and long-term survival. The presence of a variety of pests is one of the biggest driving factors for the regional market. Both termites and mosquitoes are reported to be among some of the major pests in these region and is expected to boost the market demand for pest control products and services. The region is expected to garner a growth of 6.8% over the forecast period to continue its lead in the global market standings.
Add to this, in Asia Pacific, there is a surging demand for measures to prevent and control rodents. This demand is further supported by the strict regulations imposed by the government to ensure the safety standards of the crops in the commercial sector. Countries like China, Japan, and India are experiencing a large-scale infestation of rodents in both their rural and urban areas. This can be due to factors like open drainage, lack of proper hygiene conditions, expansion of the urban population, and flooding. This, in turn, is pushing the growth of the pest control market in Asia Pacific.
The global pest control market comprises a host of key players. This includes names like Syngenta, Anticimex, Rollins, Inc., FMC Corporation Rentokil Initial Plc., Ecolab, BASF SE, Bayer AG, and others. Add to this, some of the other notable players include Dodson Pest Control, Inc., ServiceMaster Company, LLC, and Lindsey Pest Services.
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