New York, NY -- (SBWire) -- 12/22/2020 --Rodents can cause severe structural damage to residential and commercial buildings by forming nests inside electric wirings, ducts, and walls. Also, different crops produced for feeding animals and humans are susceptible to get damaged by rodents. Rodenticides protect crops and buildings by abolishing rodents. Therefore, they are highly utilized in distinct rodent control products in industrial, residential, and commercial applications. The global rodenticides market is anticipated to grow by clocking worth USD 6.11 billion in 2027, after registering a grand value of USD 4.62 billion in 2019. With an impressive rate of 3.5% of CAGR, the market is to grow steadily during the projected period.

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Market Drivers

The rising damage caused by severe rodent attacks and the rapid adoption of IPM (Integrated Pest Management) practices in various regions are primarily fueling the growth of the market. Additionally, fast industrialization and urbanization worldwide have elevated the demand for pest control due to the rapidly rising population of commensal rodents. Moreover, the mushrooming agricultural sector, especially in emerging economies, has resulted in the fast consumption of distinct pesticides for enhancing productivity. These factors are propelling the growth of the market. Furthermore, growing awareness regarding health and hygiene among consumers and government initiatives in improving the agricultural sector for satisfying food needs are also augmenting demand for natural rodenticides, thus, accelerating growth of the market.

Further key findings from the report suggest

By type, the anticoagulant segment held the largest market share in 2019 due to the inability of blood clotting factors in rodents seen against non-anticoagulants. In the US, about 95.0% of the chemical control of rodents done using anticoagulants.

By mode of application, the powder is expected to register a stagnant growth in the forecast period because the use of such modes in the air may harm animals and humans for ventilation.

By end-use, the agriculture segment is projected to occupy the highest share in 2027. An increase in devastation to grains and crops by rodents and also damage made to farm equipment is likely to drive segment growth over the forecast period.

Manufacturers are captivated in various mergers and acquisitions and product developments to expand their market share. For example, in November 2017, Rentokil Initial plc acquired Vector Disease Acquisition, LLC, to expand its presence in North America.

Key participants include BASF SE, Bayer AG, Syngenta International AG, SenesTech, Inc., IMPEX EUROPA S. L., Neogen Corp., Liphatech, Inc., UPL Ltd., Pelghar International, Reckitt Benckiser Group PLC, JT Eaton, Bell Labs Inc., and Rentokil Initial, PLC, among others.

For the purpose of this report, Reports and Data have segmented into the global Rodenticides market on the basis of type, mode of application, end-user, and region:

Type Outlook (Revenue, USD Billion; 2020-2027)

Non-anticoagulants
Anticoagulants
First-generation Anticoagulants
Second-generation Anticoagulants

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Mode of Application Outlook (Revenue, USD Billion; 2020-2027)

Pellets
Sprays
Powders
Blocks
Granules

End-User Outlook (Revenue, USD Billion; 2017-2027)

Agricultural Fields
Warehouses
Urban Centers
Residential
Commercial

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America
Europe
Asia Pacific
MEA
Latin America

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Regional Analysis

North America has been dominating the market with 37.6% of market share in 2019, owing to increasing incidences of rodent attacks, surging demand for bio-rodenticides in the U.S., and government approaches in providing high-quality foods. The Asia Pacific region is foreseen to register the highest growth rate of 4.8% throughout the projection period because of a fast-growing agricultural sector and increasing urbanization and population in the region.

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