Global rodenticides market expected to reach USD 1004.72 million in 2021, growing at a CAGR of 5.6% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 02/20/2017 -- Zion Market Research has published a new report titled "Rodenticides Market by Type (Non Anticoagulant, Anticoagulant and Others) for Agriculture, Pest Control, Warehouses and Other Application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021". According to the report, global demand for rodenticides was valued at over USD 723.86 million in 2015, is expected to reach above USD 1004.72 million in 2021 and is anticipated to grow at a CAGR of slightly above 5.6% between 2016 and 2021.
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In 2015, the rodenticides market was dominated by North America. The factors contributing to the high demand of rodenticides are government initiatives for cultivating high quality food. This is mainly due to rapidly decreasing plowable land in this region. U.S accounted for the largest market share in this. Other factors such as growing demand for bio rodenticides in North America contribute to the growth of rodenticides market.
The rodenticides market in Europe has had a stagnant growth in the past few years owing to strict regulations passed by the European government on the use of rodenticides. However, in recent times, low concentrated rodenticides that are less harmful are being introduced in the European market which is expected to drive the rodenticides market growth in this region.
Asia Pacific is expected to be the fastest growing market in 2015 for the rodenticides and is predicted to gain traction over the forecast period. Rapidly growing agricultural sector in India and China contributes to the high growth of rodenticides in Asia Pacific. Increasing accomplishment from the government for improving the productivity and quality of food is expected to spur the growth of rodenticides market. There has been tremendous growth in infrastructure sector in China and India which has led to shrinkage of arable land.
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Consequently, to assure the food requirement advance technologies are followed which in turn may assist the growth of rodenticides in Asia Pacific. In addition, demand for pesticides is growing extensively in Asia Pacific due to increasing population. Fewer regulations imposed by the governing bodies of India and China for utilization of pesticides in this region have forced the players to set up their plants in these regions. This factor is anticipated to boost the rodenticides market in the forecast period. Furthermore, agricultural is considered as the main livelihood in majority part of India, which prompts the use of various pesticides for getting higher yield. Also, pesticides are mainly used for improving productivity of crops to obtain high profit is estimated to augment the growth of rodenticides market.
Latin America is expected to experience robust growth for rodenticides market in the near future due to increasing agricultural sector in Brazil. Growing population and high use of pesticides for achieve better productivity is likely to trigger the growth of rodenticides market in this region. Middle East and Africa is anticipated to show sustainable growth in the near future due to high consumption of several pesticides. In addition, rapidly increasing agricultural sector due to existence of huge arable land aids the rodenticides market growth.
Some of the key participants in the rodenticides market include The DOW Chemical Company, Syngenta AG, UPL Limited, Pelgar International, Senestech, Inc, Bayer Cropscience AG, BASF SE, Liphatech, Inc., Neogen Corporation, E.I. Du Pont De Nemours and Company, J.T. Eaton & Co., Inc and Impex Europa S.L Due to various regulations imposed by the governing bodies the players primarily focus on R&D for innovating eco friendly rodenticides.
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This report segments the rodenticides market as follows:
Rodenticides Market: Type Segment Analysis
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Rodenticides Market: Applications Segment Analysis
Rodenticides Market: Regional Segment Analysis
-Middle East and Africa
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