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Pest Control Market Size Expected to Reach USD 31.94 Billion by 2027, Growing Adoption of Smart System Measures will Augment Growth

June 03, 2020 | Agriculture

The global pest control market size is prophesied to reach USD 31.94 billion by 2027 owing to the increasing number of vector-borne diseases worldwide. In addition to this, the advent of smart pest control technology emerging as a current trend will also add impetus to the market. As per a recently published report by Fortune Business Insights titled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type (Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, and Biological), Application (Residential, Commercial, and Industrial), and Regional Forecast, 2020 - 2027,” the market value was USD 19.73 billion in 2019 and is anticipated to rise at a CAGR of 6.31% during the forecast period, 2020 to 2027.


New Disinfectant Launched by Orkin LLC for Fighting Wide Variety of Pathogens


The increasing concerns of germ transmission and the welfare of public citizens have provoked a pest control company called Orkin LLC to launch an effective option for restoring a healthier business environment. Orkin LLC is a completely owned subsidiary of Rollins Inc., a major player in this sector. The product called Orkin® VitalClean™ was launched in March 2020 for use in large-scale commercial and public recreational spaces for sanitization. This product utilizes a disinfectant that is EPA-registered for use against a wide variety of pathogens. The current COVID19 pandemic has prioritized the importance of hygiene and this is likely to propel consumers and other business minds to opt for this product to maintain a clean, safe, and healthy atmosphere.


Vice President of the department of Quality Assurance and Technical Services at Rollins Inc., Judy Black stated, “This product is a disinfectant that we offer was enlisted by EPA for specific use against SARS-CoV-2 virus, is almost non-toxic, and is magnificently effective to fight strong viruses such as the coronavirus. It also does not contain any ozone harming organic compound and is skin-friendly and mild on fabrics and hard surfaces.” This may pose as a major contributor to this market in the forthcoming years.


Rising Awareness about Cleanliness and Maintaining Hygiene Standards are likely to Boost Market


The rise in the development and utilization of biocontrol agents that can be used for population control of pests is a key factor promoting the pest control market growth. This, coupled with the increasing adoption of smart and long-lasting measures will also add impetus to the market. Additionally, the expansion of the integrated pest management industry, coupled with government support for the same is expected to boost the market. 


On the contrary, factors such as strict regulations on certain chemicals used for making these products may hamper the market in the long run. Nevertheless, the increasing number of construction activities for both residential, and commercial purposes and the increasing need to maintain cleanliness and hygiene of such buildings will create lucrative growth opportunities for the market in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/pest-control-market-102854


ServiceMaster, Rollins Inc., and Rentokil Holding Major Shares in Market


The competitive nature of this market is highly fragmented on account of the presence of many players. The major objective of players to gain momentum in the market is to develop better quality pest control products and are therefore investing heavily in the same. Besides this, players are engaging in collaborative efforts such as mergers and acquisitions, joint ventures, contracts and agreements, partnerships, and others to stay ahead of their competitors.


Notable Industry Developments of Market include:



  • December 2019 – A leading American pest control manufacturing company called ServiceMaster acquired Crazy Frog for the expansion of its brand across the North American market.

  • January 2019– Brazil-based manufacturer called Multicontrole Pest Control merged with Rentokil, the largest pest management vendors in the world to spread their geographical presence in the South American market.


List of Companies Profiled in the Report:



  • Rentokil Initial Plc. - United Kingdom

  • Ecolab Inc. – United States

  • Truly Nolen – United States

  • Bell Laboratories – United States

  • Rollins Inc. – United States

  • Massey Services Inc. – United States

  • Bell Laboratories – United States

  • ServiceMaster Global Holdings Inc. – United States

  • Bayer AG – Germany

  • Terminix International Company L.P – United States

  • Anticimex – Sweden

  • Other Vendors


Further Report Findings



  • North America held the dominant market share with a revenue of USD 9.59 billion earned in 2019 owing to the presence of major players in the region

  • With respect to segmentation by pest type, the market is dominated by the insect segment with a 49.30% share in the market. This is attributed to the proliferating population of insects in a short period that further propels more use of insect-killing pest management services and products.


This Market is segmented into:











































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Pest Type



  • Insects

  • Termites

  • Rodents

  • Others



By Method



  • Chemical

  • Mechanical

  • Biological



By Application



  • Residential

  • Commercial

  • Industrial



By Region



  • North America (the U.S., Canada, and Mexico)

  • Europe (Germany, United Kingdom, France, Spain, Italy, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • Middle East & Africa (South Africa, Saudi Arabia, and the Rest of the MEA)


Pest Control Market
  • PDF
  • 2019
  • 2016-2018
  • 150

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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