The growth of the global pest control products and services market is specifically driven by a rapidly increasing urban population across the globe along with an increase in the pest population, attributed to the largely available food sources for small organisms and conducive living habitats

New York, NY -- (SBWire) -- 11/09/2017 --Pest control is a process for regulation and management of different living organisms that are harmful for human population. A growing prevalence of vector-borne diseases and infections resulting from common household pests is encouraging end users to increase their spending on pest control products and services. The global pest control products and services market was valued at US$ 16.01 Bn in 2015 and has been estimated to reach US$ 16.94 Bn by 2016 end, reflecting a Y-o-Y growth rate of 5.8%.

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Factors and trends impacting the market

Growth of the global pest control products and services market is specifically driven by a rapidly increasing urban population across the globe along with an increase in the pest population, attributed to the largely available food sources for small organisms and conducive living habitats. Besides, growing consumer awareness concerning health and hygiene in developed and developing countries is further fueling the market demand for pest control services. Favorable weather conditions in different countries and rising consumer demand for pesticides owing to increasing pest infestation rates are factors expected to further boost the demand for pest control products and services worldwide. Furthermore, international tourism is also an upcoming and prominent factor driving the rise in demand for different types of pest control products and services.

One of the major restraints for the growth of the global pest control products and services market is the implementation of stringent government regulations to limit levels of chemical toxicity and restrict the use of highly toxic pesticides to reduce their hazardous impact on public health and environment.

Segment analysis

The global pest control products and services market is segmented on the basis of Product Type (Insecticides, Rodenticides, Other Chemical, Mechanical, Others); Application Type (Ants Control, Bedbug Control, Beetle Control, Bird Control, Mosquito & Flies Control, Cockroaches Control, Rat & Rodent Control, Termites Control, Others); Service Type (Chemical Control Services, Organic Control Services, Synthetic Control Services, Mechanical Control Services, Other Pest Control Services); and End User (Agricultural, Commercial, Industrial, Residential). The Insecticides product type segment was valued at US$ 5,183.1 Mn in 2015 and is estimated to reach US$ 5,502.2 Mn by the end of 2016, reflecting a Y-o-Y growth rate of 6.2%. The Cockroaches Control application type segment was valued at US$ 3,322.8 Mn in 2015 and is estimated to reach US$ 3,506.4 Mn by the end of 2016, reflecting a Y-o-Y growth rate of 5.5%. The Chemical Control Services service type segment was the largest segment in 2014 and is expected to continue to remain the most dominant segment in the market till the end of 2026. The Residential end user segment in the global pest control products and services market is expected to create absolute $ opportunity of US$ 343.6 Mn in 2017 over 2016.

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Regional analysis

The global pest control products and services market is segmented into the five key regions of North America, Latin America, Europe, Asia Pacific, and MEA. The North America market accounted for a value share of 47.1% of the global pest control products and services market in 2015 and is expected to be the most attractive market in the global pest control products and services market. The Asia Pacific pest control products and services market in the global pest control products and services market is expected to create absolute $ opportunity of US$ 210.9 Mn in 2017 over 2016.

Top market players

Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Brothers Exterminating Company Incorporated, Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions LLC, and Univer Inc. are some of the leading companies operating in the global pest control products and services market. Some of these companies are focusing on expanding their geographical presence through operational expansion and strategic mergers and acquisitions.