“Pest Control Services Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026”
Valley Cottage, NY -- (SBWIRE) -- 10/09/2017 -- The US$ 16 Bn global pest control services market is set to increase at over 5% CAGR in the next decade, according to a new market forecast report by Future Market Insights (FMI). The report, titled, "Pest Control Services Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026", offers 10-year forecast and analysis on the basis of application, service, end-users, and region.
Rising awareness among consumers on the importance of pest control is anticipated to ramp up demand for pest control and management during the forecast period. Increase in construction activity on account of rapid urbanisation and economic development is also expected to fuel the growth of the market.
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Global regulations and legislations on consumer safety are anticipated to boost adoption of pest control management as a standard operational procedure in end-use industries, especially in food and beverage manufacturing. End-use industries are focus on compliance with certification standards set by the British Retail Consortium (BRC) and AIB International, and this is expected to contribute to the growth of the market in the future.
Other key factors anticipated to shape up demand for pest control services include climate change (various pests thrive in warmer climates), rise in international tourism, and easy availability pest control and management solutions.
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Use of technology is growing in the pest control landscape, with many companies using smartphone apps and mobile communication technology to offer highly effective services to their clients. Concerns about the potential health- and environmental-impact of pest control chemicals is influencing manufacturers to include organic chemicals in their offerings.
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North America and Western Europe are currently the largest markets for pest control services, collectively accounting for 60% revenue share of the market in 2015. Demand for pest control services in Asia Pacific excluding Japan (APEJ) is expected to witness strong growth during the forecast period. FMI estimates the APEJ pest control services market to increase at a CAGR of 6.5% during the forecast period.
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.