The 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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pest control products and services are used to eliminate or control pests such as rodents, termites, cockroaches, bed bugs and other insects. The growing hospitality and food industry favors the growth of the pest control market. In restaurants and hotels, a regular inspection and treatment is required to maintain hygiene and safety standards. The increasing number of termite and rodent infestation in residential and commercial properties also contributes to the market growth.
Market Dynamics:
One of the key drivers for the pest control products and services market is growing consumer awareness regarding health hazards of pest infestation. The spreading of diseases through pests is a major concern, especially in developing countries. This has increased the demand for professional pest control services. Furthermore, strict regulations regarding hygiene and food safety across various countries also promote the adoption of integrated pest management programs. Commercial properties such as hotels, hospitals and restaurants require quarterly or biannual pest control services. The proliferation of quick service restaurants also provides growth opportunities to market players. In addition, technical advancements in detection and treatment methods through digital pest control solutions make the process more efficient, thereby supporting market expansion.
SWOT Analysis
Strength: Pest control products and services have reliable solutions for eliminating pests effectively. They offer both chemical and non-chemical products and services. There is a wide range of products and treatment options available for both residential and commercial segments.
Weakness: Pest control products containing chemical ingredients can harm the environment and human health if not used carefully. Some pest control methods require multiple treatments to ensure pests are eliminated completely.
Opportunity: Rising awareness about health implications of pest infestation is driving the demand for pest control products and services. Furthermore, growth in organized retail and e-commerce sectors need integrated pest management.
Threats: Stricter regulations regarding use of chemical pesticides is a challenges. Moreover, availability of low cost do-it-yourself pest control products and services is also threatening the market.
Key Takeaways:
The global Pest Control Products And Services Market Share is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing pest infestation worldwide especially in commercial establishments. Rapid urbanization and changing lifestyle leading to improper sanitation is fueling various pest issues.
Regional analysis North America dominates the global pest control products and services market owing to robust commercial and residential infrastructure. Moreover, presence of major international players in the region drives the market. Asia Pacific is projected to witness fastest growth during the forecast period. Rising expenditure on pest control by households as well as commercial sector such as hospitality will boost the market in the region.
Key players operating in the pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. The players focus on new product launches and expansion strategies to gain competitive advantage in the market.
Key Takeaways:
The global pest control products and services market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing pest infestation worldwide especially in commercial establishments.
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