Pest Control Market to Garner $39.0 Billion, Globally, By 2032 at 5.7% CAGR, Says Allied Market Research

The growth of the pest control market is driven by factors such as urbanization, climate change, globalization, rise in pest populations, the spread and proliferation of pests, and higher demand for pest control services

PORTLAND, Ore., May 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Pest control Market by Type (Chemical, Mechanical, Biological, Others), by Pest Type (Insects, Termites, Rodents, Others), by Application (Commercial, Residential, Agriculture, Industrial, Others) Global Opportunity Analysis and Industry Forecast, 2023-2032 ". According to the report, the pest control market valued for $22.6 billion in 2022 and is estimated to reach $39.0 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.

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Prime determinants of growth

The growth of pest populations is a primary driver for the pest control market. Factors such as urbanization, climate change, and globalization contribute to the spread and proliferation of pests, leading to a higher demand for pest control services. However, toxicity and health-related issues due to chemicals present in pesticides is a significant factors restraining the growth of the market. On the contrary, there is a growing market for environmentally friendly pest control solutions. Developing and offering organic and natural pest control products and services can cater to the needs of environmentally conscious consumers who prefer alternatives to conventional chemical pesticides. Investing in research and development to create effective and sustainable pest control methods can tap into this expanding market segment.

Report Coverage & Details:

The chemical segment to maintain its leadership status throughout the forecast period

Based on type, chemical held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global market and is projected to maintain its dominant share in terms of revenue in 2032. Chemical pest control method is an effective way to control pest in terms of scale, efficiency, and rapidity. Utilization of chemical pest control methods in agriculture, domestic, and commercial sectors for eradication of insects and rodents is the major factor that boosts the growth of the segment. However, mechanical is projected to grow at the highest CAGR of 6.0% from 2023 to 2032. Mechanical method of pest control is adopted at a significant rate globally, owing to its easy application, cost-effectiveness, and quick results.

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The insects segment to maintain its leadership status throughout the forecast period

Based on pest type, insects held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global market and is projected to maintain its dominant share in terms of revenue in 2032. Increase in public awareness about the negative impact of insects on human health and environment has fueled the demand for pest control products. However, rodents is projected to grow at the highest CAGR of 6.15% from 2023 to 2032. Increase in demand for food grains due to rise in population coupled with expanding food storage capacity owing to surge in concern over food security are the significant drivers of the rodents segment.

The commercial pest control segment to maintain its leadership status throughout the forecast period

Based on application, commercial pest control held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global market and is projected to maintain its dominant share in terms of revenue in 2032. The primary pests found in commercial and institutional sites include insects and rodents. Chemical and mechanical methods are the most widely used pest control techniques in commercial areas to maintain high sanitation standards and cleanliness. However, agriculture is projected to grow at the highest CAGR of 6.2% from 2023 to 2032. Agriculture pest control can be carried out using mechanical, physical, cultural, biological, and chemical pest control methods. Integrated pest management (IPM) in agriculture application is the key trend in the global pest control market.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around half of the global market, and is projected to maintain its dominant share in terms of revenue in 2032. The pest control market is expected to possess high growth potential in North America, owing to an increase in construction activities in the region. However, Asia-Pacific is projected to grow at the highest CAGR of 6.2% from 2023 to 2032. The emerging markets such as South Korea and India are expected to majorly contribute to the development of pest control methods in the future, owing to rapid increase in applications in construction and agricultural sectors.

Leading Market Players: -

• Anticimex,
• BASF SE,
• Bayer AG,
• Cleankill Environmental Services Ltd.,
• Dodson Pest Control, Inc.,
• Ecolab,
• FMC Corporation,
• JG Pest Control,
• Rollins, Inc.,
• Syngenta AG

The report provides a detailed analysis of these key players in the global pest control market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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