The global rodenticides market is set to gain momentum fromthe increasing contamination of food items. Rodents are capable of
contaminating around ten times the amount of food that they consume. Sometimes,
it is much more. This information is given by Fortune Business Insights™in a recent report, titled, “Rodenticides Market Size, Share & IndustryAnalysis, By Type (Anticoagulant and Non-anticoagulant), Form (Pellets,
Powders, Sprays, and Others), Application (Agricultural Fields, Warehouse, Pest
Control Companies, and Others), and Regional Forecast, 2020 – 2027.” Thereport further states that the rodenticides market size was USD 2,046.03million in 2019 and is projected to reach USD 2,660.82 million by2027, exhibiting a CAGR of 3.46% during the forecast period (2020-2027).
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Drivers & Restraints-
Increasing Usage of Integrated PestManagement to Bolster Growth
Rats and mice have been damaging thehealth and fitness of the masses since time immemorial. They can cause 60
different types of diseases, such as Hantavirus, typhus, and plague. At the
same time, they can cause economic loss. One of the most effective methods to
deal with such commensal rodents is the adoption of integrated pest management
(IPM). It is a broad-based approach that highlights the economic management of
rodents. However, the launch of new rodenticides must follow some of the
rigorous and stringent regulatory requirements as provided by the governments
or other regulatory bodies. It may hamper the rodenticides market growth during
the forthcoming period.
Segment-
Anticoagulant Segment to GrowRapidly Backed by High Demand from Agriculture Sector
Based on type, the market isbifurcated into non-anticoagulant and anticoagulant. The anticoagulant segment
held 75.54% rodenticides market share in 2019. They are used at a large scale
as they provide the rodents with painless deaths by preventing their blood from
coagulating. They are also less toxic to other animals, as well as human
beings. They are highly demanded from the agricultural sector across the globe.
Hence, this type of rats and mice pest control would be sold more in the near
future.
Regional Analysis-
Increasing Number of ResidentialSocieties to Drive Growth in North America
In terms of geography, the market isdivided into Asia Pacific, South America, North America, the Middle East and
Africa, and Europe. Out of these, North America procured USD 692.58 million
revenue in 2019. It is set to dominate the market in the near future. This
growth is attributable to the rising number of residential societies in this
region. Coupled with this, the increasing demand for rodent control products
and services would contribute to the market growth in this region.
Asia Pacific, on the other hand, isexpected to showcase rapid growth during the forecast period backed by the
ever-increasing population, especially in the developing countries, such as
India and China. Most of the people are engaged in agriculture in these
countries. The growing population is urging the farmers in providing the
maximum yield to fulfil the unmet needs. The production is lowering because of
rodent attacks. Hence, such attacks need to be reduced. Also, rodenticides are
easy-to-use, cheap, and are very effective. These factors are increasing their
popularity in this region.
Competitive Landscape-
Key Players Engage in Mergers &Acquisitions to Broaden Product Portfolio
Major companies operating in themarket are aiming to generate more sales by launching unique rodenticides in
the market. Some of the reputed enterprises are also acquiring local players to
increase their product portfolios. A few of the others are conducting awareness
programs to let people know about the availability of various novel rodent
pests and their advantages. Below are a couple of the latest key industry
developments:
- November 2017: Rentokil Initial, a business services group based in the U.K., announced
the acquisition of Vector Disease Acquisition, LLC (VDA). The latter is a
provider of a wide range of vector control services consisting of disease
testing, species identification, and weekly monitoring of mosquito levels.
This transaction would aid Rentokil in strengthening its position in the
market and fulfil the growing demand for mosquito control worldwide. - August 2017: NEOGEN launched an effective rodenticide bait named DeciMax® Soft. It blends
the flexibility and superior palatability so that it can be used in
extreme weather conditions. It is also equipped with a second generation
anticoagulant named bromadiolone that would help in controlling mice and
rats effectively.