by Pest control products and services help eliminate or minimize pest infestation in homes, commercial buildings, and farms, thereby maintaining hygiene and enhancing food safety. Some products such as rodenticides, insecticides, and other chemicals effectively control pests but may be harmful to the environment or human health.
The global Pest Control Products And Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Products containing natural ingredients like plant extracts and essential oils are preferred over synthetic chemical-based ones due to their lower environmental impact. Manufacturers are investing in research and development of effective bio-based formulations using rosemary oil, cinnamon oil, citronella oil, neem oil, and other plant-derived compounds which are safer for use around home, children and pets. This trend is expected to drive significant growth in the organic and green pest control market during the forecast period.
SWOT Analysis
Strength: The pest control products and services market faces high demand from commercial and residential sectors for effective and eco-friendly solutions. Growing consumer awareness regarding hygiene and health benefits of professional pest control boosts the market.
Weakness: High costs associated with pest control services limit its adoption. Low availability of trained professionals for specialized tasks acts as a restraint.
Opportunity: Growing demand for organic, green and eco-friendly pest control products and services opens new growth avenues. Adoption of advanced technologies like IoT sensors and drones for pest monitoring increases opportunities.
Threats: Stringent regulations surrounding usage of chemical pesticides pose threats. Vulnerability to climate change inducing newer pests is also a challenge.
Key Takeaways
The Global Pest Control Products And Services Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 23.78 billion in 2023 to US$ 33.56 billion by 2030, registering a CAGR of 4.0%.
Regional analysis reveals that North America dominates the pest control products and services market currently. Major factors driving the regional market include growing consumer awareness about hygienic homes and offices, rising pest issues due to climate changes, and presence of many global market players. Asia Pacific is expected to witness the fastest growth over the coming years with China, Japan and India emerging as highly lucrative markets.
Key players operating in the pest control products and services market are Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo. These leading companies enjoy a major market share and are focusing on new product developments, mergers & acquisitions and geographic expansion to strengthen their market position. Technology integration with IoT devices and use of AI in analysis is reshaping competition in the industry.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
