by The pest control products and services market involves the management and control of various species of pests that can cause damage to commercial and residential property through contamination and other means. Some common pests controlled include termites, rodents, bed bugs, cockroaches, flies, mosquitoes, and more. Companies offering pest control services employ licensed professionals to conduct routine inspections and apply integrated pest management solutions through non-chemical and chemical methods. With growing awareness about health hazards of chemical pesticides, there is rising demand for biopesticides and other minimal risk options.
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 6.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the pest control products and services market is the rising demand for minimal risk options. As consumers are increasingly concerned about health hazards of chemical pesticides, they are seeking alternative biopesticides, pheromones and other natural substances that pose minimal risks. Government regulations in various countries are also promoting biopesticide usage. This growing demand for safer pest control solutions is expected to support market growth over the forecast period. Another factor fueling the market is increasing infestations and outbreaks of various pests owing to factors like climate change and globalization of trade. This has propelled greater need for professional services to curb pest proliferation and prevent damage.
Segment Analysis
The pest control market can be segmented into chemical, mechanical, and biological control. Chemical control is currently the largest segment, accounting for over 40% share owing to the easy availability and low cost of chemicals. However, the biological control segment is growing the fastest due to increasing consumer preference for eco-friendly pest control products and services. Biological pest control uses beneficial microorganisms, insects or other animals to control pests without relying on pesticides which pollute the environment.
PEST Analysis
Political: Stringent regulations on the use of chemical pesticides in various countries is driving demand for organic and eco-friendly pest control products and services.
Economic: Growing construction activities and rising consumer spending on health and hygiene is fueling the growth of pest control market.
Social: Rising health consciousness among people regarding food safety and vector-borne diseases is boosting the pest control market.
Technological: Companies are investing in digital technologies like IoT sensors and drones to offer efficient pest monitoring and prevention services.
Key Takeaways
The Global Pest Control Products And Services Market Demand is expected to witness high growth over the forecast period supported by rising construction activities and increasing population globally. 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 6.1% over the forecast period 2023 to 2030.
Regionally, Asia Pacific dominates the market currently owing to hot and humid climates and increasing construction projects in countries like India and China. The market is expected to grow the fastest in Asia Pacific due to rapid economic growth, rising disposable incomes, and increasing health awareness.
Key players operating in the pest control 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. Ecolab Inc. is the largest player with strong presence across regions. The company offers comprehensive pest control solutions through digital platforms to its diversified customer base.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
