Global $29.1 Billion Pest Control Market to 2026: Emergence of Biological Pest Control Solutions & Adoption of Artificial Intelligence (Ai) in Pest Control

Dublin, May 06, 2021 (GLOBE NEWSWIRE) -- The "Pest Control Market by Pest Type (Insects, Rodents, Termites), Control Method (Chemical, Mechanical, Biological), Mode of Application (Sprays, Traps, Baits), Application (Residential, Commercial, Industrial), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The pest control market is estimated at USD 22.7 billion in 2021 and is projected to grow at a CAGR of 5.1% to reach USD 29.1 billion by 2026.

The growth of the pest control market is driven by the advancements in insecticide formulations and increased urbanization activity and the creation of megacities, which have had a profound impact on demand for pest control. The continuous and extensive use of chemical compounds to eliminate or reduce pest infestation has led to the development of resistance among pests to conventional pest control products. This resistance can be classified into metabolic resistance, target-site resistance, penetration resistance, and behavioral resistance.

The termites' segment, by pest type, is projected to witness the fastest growth in the market during the forecast period.

On the basis of pest type, the pest control market is classified into insects; rodents; termites; wildlife; and other pest types, which include birds, reptiles, and mollusks. Termites are major pests worldwide and cause high economic losses in public places, households, and the industrial sector.

Species of termites, which require pest control services, include damp wood termites, drywood termites, Formosan termites, subterranean termites, dessert termites, and conehead termites. Coptotermes vastator are a species of termites that are prevalent in tropical regions; another species named Coptotermes spp. (subterranean termite) is widely found in the Southeast Asian region.

The chemical methods segment accounted for the largest share in 2020.

Based on the control method used by pest management professionals, chemical control methods are observed to hold the dominant share in the pest control market. Chemical control is based on substances that are toxic or poisonous to pests. Chemical pesticides are used to control pests and diseases caused due to pests.

The use of chemical pesticides is widespread due to their relatively low cost; simplicity of application; effectiveness; availability; and stability. The use of chemical pest control solutions is to be carried out by a licensed service provider and a trained technician who is aware of the products' effects on the surrounding environment.

The residential segment, by application, is projected to grow at the highest CAGR during the forecast period.

Based on application, the residential segment is projected to hold the largest market share between 2021 and 2026. The residential segment is projected to exhibit a strong potential for pest control service providers; this potential is mainly driven by the middle-class population and the increased purchasing power parity of people.

The increasing population density, climate change, and growing economic activities can lead to a lack of resources and amenities to avert or reduce pollution risks. In addition, improper sanitary procedures and inefficient implementation processes for public health hygiene are projected to cause health risks in the residential sector.

High growth is projected in the Asia Pacific pest control market.

The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the large-scale urbanization and the increasing need for pest control in the megacities of China and India. In addition, service providers and pesticide suppliers are looking toward the Asia Pacific region due to the increasing pest awareness among consumers and are seeking to expand their influence in the markets through joint ventures and acquisitions.

Market Dynamics

Drivers

• Increase in Instances of Vector-Borne Disease Outbreaks to Encourage Public Health Initiatives

• Impact of Climate Change on Pest Proliferation

• Rising Adoption of Digital Applications and Technology

Restraints

• High Registration Costs and Interminable Time for Product Approval

• Risks Associated with Pesticide Storage

Opportunities

• Emergence of Biological Pest Control Solutions

• Adoption of Artificial Intelligence (Ai) in Pest Control

Challenges

• Growth in Pest Resistance Against Chemical Compounds

• Lack of Skilled Labor in Performing Pest Control Activities

• Inadequate Ai Expertise and Skills

Impact of COVID-19 on Market Dynamics

• COVID-19 to Drive the Demand for Pest Control as An "Essential Service"

• COVID-19 Impact on the Pest Control Supply Chain

Industry Trends

Supply Chain Analysis

• Pest Control Manufacturers

• Research & Testing

• Manufacturing

• Packaging

• Distribution, Marketing & Sales

• Pest Control Software & Service Providers

• R&D of Product

• Raw Materials & Manufacturing

• Assembly

• Distribution, Marketing & Sales

Technology Analysis

• Pest Control and Internet of Things (IoT)

• Pest Control and Crispr

• Pest Control and Artificial Intelligence (Ai)

IoT Adoption in Asia-Pacific

Buying Behavior on Social Media of Small- and Medium-Sized Pest Control Companies in Asia-Pacific

Average Selling Price Trend

Ecosystem

• Manufacturers

• Software & Service Providers

• End-User Companies

• Value-Added Service Providers

Trends/Disruptions Impacting the Customer's Business

Porter's Five Forces Analysis

Patent Analysis

Case Study Analysis

• Use Case 1: Anticimex's IoT Solution Helped Create Digital Connected Traps

• Use Case 2: Rentokil Used IoT Solutions to Increase Its Customer Base and Improve Customer Retention

Leading players profiled in this report:

Pesticide Suppliers:

• Bayer Cropscience (Germany)

• Syngenta AG (Switzerland)

• BASF(Germany)

• FMC Corporation (US)

• Sumitomo Chemicals Co. Ltd. (Japan)

• ADAMA (Israel)

• Corteva Agriscience (US)

• PelGar International (UK)

• Bell Laboratories Inc. (US)

• JT Eaton & Co., Inc. (US)

Service Providers:

• Rentokil Initial Plc (UK)

• The Terminix International Company LP (US)

• Rollins Inc. (US)

• Ecolab (US)

• Anticimex (Sweden)

• RATSENSE (Singapore)

• Brandenburg (West Midlands)

• Adam's Pest Control (US)

• Woodstream Corporation (Pennsylvania)

• V3 Smart Technologies (Singapore)

For more information about this report visit https://www.researchandmarkets.com/r/wzsdqd

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