Global Rodenticide Market Overview 2023-2032 - Forecast Market Growth And Major Drivers, By The Business Research Company
Rodenticide Global Market Report 2023 By The Business Research Company Describes And Explains The Rodenticide Market And Covers 2017-2022, Termed The Historic Period, And 2022-2027 Termed The Forecast Period, Along With Further Forecasts For The Period 2027-2032. The Report Cover Market Sizing Information, Market Trends, Strategies, And Opportunities For The Seven Regions And Major Players Of The Market.
LONDON, April 24, 2023 /PRNewswire/ -- As per The Business Research Company's Rodenticide Global Market Report 2023, the global rodenticide market size is expected to grow from $6 billion in 2022 to $9.3 billion in 2023 at a compound annual growth rate (CAGR) of more than 9%. The rodenticide market value is then expected to grow to $16.8 billion in 2032 at a CAGR of more than 12%.
The global rodenticide market segments are categorized -
1) By Type: Anticoagulant, Non-Anticoagulant
2) By Form: Pellet, Spray, Powder
3) By Application: Agricultural Fields, Warehouse Pest, Control Companies, Other Applications
The top opportunities in the rodenticide market segmented by type will arise in the anticoagulant segment, which will gain $2.5 billion of global annual sales by 2027. The rodenticide market size will gain the most in the USA at $624.6 million.
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One of the major drivers in the market is the rising urbanization, especially in developing countries, that is leading to a greater demand for the construction of residential and commercial buildings. Public health is also anticipated to be affected by urbanization when rural infections migrate to cities and multiply there, leading to a greater demand for rodenticide to protect the buildings from rodents. For example, according to the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, in 2018, 55% of the world's population resided in urban regions, and it is projected to rise to 68% by 2050. Therefore, the increasing urbanization will propel the rodenticide market growth.
The growing agricultural industry also contributes to the growth of the rodenticide market due to rodents being major problem for the agriculture sector. For example, according to the 2031 projections by the United States Department of Agriculture, a US-based agricultural department, for the first few years of the projection period compared to the 2021/22 season, the total planted area of the eight primary field crops in the USA is anticipated to expand moderately. The total area under cultivation for the eight crops is expected to reach a high of 255.6 million acres in 2023–2024 and a near-low of 251.7 million acres in 2031–2032. This will require a larger amount of rodenticide to counter the inevitable increase of rodent problems.
Read The Full Global Rodenticide Market Here:
https://www.thebusinessresearchcompany.com/report/rodenticide-global-market-report
The global rodenticide market is highly fragmented, with a large number of small players. BASF SE was the largest competitor with 3.5% rodenticide market share, followed by Syngenta, Bayer AG, Neogen Corporation, UPL Limited, Bell Laboratories Inc, Liphatech, Inc., PelGar International, JT Eaton, and Impex Europa.
As per The Business Research Company' rodenticide market analysis, players are adopting strategies such as launching new products to stay competitive and enhance their market position in the pest control sector, expanding business capabilities through mergers and acquisitions, and focusing on strengthening business operations through strategic collaboration.
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