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The Pest Control Market was estimated at USD 23.5 billion in 2023-e, and is projected to grow at a CAGR of 5.5% through 2030 to reach USD 34.2 billion. Improvements in pest control technologies and methods have made treatments more effective, precise, and environmentally friendly. Technology helps collect and analyze data on pest behavior, enabling professionals to make smart decisions and improve treatment strategies. Real-time tracking of pest activity is made possible by the integration of digital monitoring systems, such as sensors and remote monitoring devices, into pest control. This improves the efficacy and efficiency of pest management initiatives.
Termites Segment Propel Growth in Pest Control Market
Termites, known for consuming dead plant matter found in soil, wood, and leaf litter, pose threats to structures, crops, and various assets. Effective management of termite infestation involves employing chemical, biological, physical, and mechanical techniques. The expanding market for termite control is notably driven by supportive government initiatives aimed at addressing these pervasive challenges in pest management. For instance, the Environmental Protection Agency (EPA) in the US has established strict guidelines for the registration and application of termite control products and promotes termite prevention through a variety of awareness campaigns.
Growing Eco-Friendly Solutions Fuels Organic Pest Control Demand
The organic segment is expected to grow significantly as consumer preferences shift in favour of environmentally friendly and sustainable solutions. Demand for organic pest control alternatives is growing as people become more conscious of the negative effects that conventional pest control methods have on the environment and human health. Biological controls, essential oils, and botanical extracts are examples of natural, non-toxic materials used in organic pest control. These techniques work well for controlling pests while causing the least amount of damage to the environment and beneficial organisms. The organic market is anticipated to see faster adoption as laws governing the use of chemical pesticides become more stringent.
Residential Category is the Second Largest within the Application Segment
The residential category is the second largest within the application segment due to rising awareness among homeowners about the importance of pest control for maintaining a healthy and comfortable living environment. As more individuals prioritize pest prevention and management in their homes, the demand for residential pest control solutions experiences significant growth. Additionally, the increasing prevalence of pests in urban and suburban areas contributes to the prominence of the residential segment within the overall market.
Pest Control Market is Highly Competitive with the Presence of a Large Number of Global and Regional Players
The key companies in the pest control market are actively expanding their portfolios. The market is highly competitive with the presence of a large number of global and regional players present in the market. The key players in the market are ADAMA, Anticimex, BASF, Bayer, Corteva, Dodson, Ecolab, FMC, Godrej Agrovet, Rentokil, Rollins, Sumitomo, Syngenta, and Terminix. In April 2023, Home Team Pest Defense, a brand under Rollins, successfully acquired Fox Pest Control. This strategic acquisition is anticipated to enhance Rollins' long-term growth strategy, particularly in new geographies within the US market.
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