DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "Rodenticides - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Rodenticides Market to Reach $7.1 Billion by 2026
The global market for Rodenticides estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$7.1 Billion by 2026, growing at a CAGR of 5.8% over the analysis period.
Demand for rodenticides is on the rise, driven by the growing rodent numbers and the significant damage caused by them to health, agricultural yield, and property, and the government efforts to control their population. Rising hygiene and health consciousness among people is also aiding market growth. Also, growing human population worldwide and the need for crop production on a large scale are fueling the use of rodenticides in various regions.
In addition, the rise in construction of new of hotels, hospitals, residential housing, and offices are spurring the use of such chemicals. The market also benefits from the growing use of integrated pest management, which is an approach that focuses on the economic management of damage-causing rodents. The introduction of natural and non-toxic rodenticides and 3rd generation anticoagulants are expected to offer new growth avenues for the market.
Anticoagulant, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$5.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Anticoagulant segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 22.7% share of the global Rodenticides market.
Anticoagulant rodenticides hold the dominant share of the market, given their widespread use due to their capability to kill in one dose or several doses. Anticoagulant rodenticides are anticipated to witness strong growth on account of their significant adoption in the agricultural sector.
Non-anticoagulant rodenticides interfere with blood coagulation and result in spontaneous bleeding when consumed in large quantities. There are several types of non-anticoagulant rodenticides available in the market, including colecalciferol, bromomethylene and zinc phosphate. Colecalciferol is probably the only non-anticoagulant rodenticide to be allowed for use in organic farming.
The U.S. Market is Estimated at $1.8 Billion in 2021, While China is Forecast to Reach $998.3 Million by 2026
The Rodenticides market in the U.S. is estimated at US$1.8 Billion in the year 2021. The country currently accounts for a 34.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$998.3 Million in the year 2026 trailing a CAGR of 7.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$1.1 Billion by the end of the analysis period. The expanding agrarian industry in developing regions such as Brazil, India, and China support the use of rodenticides in these markets.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
COVID-19 Presents Perfect Landscape for Rats to Colonize & Plague Deserted Spaces
Altered Rodent Behavior amid COVID-19 Lockdown Prompts Pest Control Companies to Align Strategies
Shutdowns as Opportunity to Control Rodent Activity
Record Surge in Rodents' Complaints amid Relaxations in COVID-19 Restrictions
Rodenticides: An Introduction
Major Factors Driving the Need to Control Rodents
Types of Rodenticides
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 44 Featured)
Abell Pest Control
Bell Laboratories Inc.
EcoClear Products Inc.
Rentokil Initial Plc
3. MARKET TRENDS & DRIVERS
Sustained Prevalence of Rodent-Borne Diseases Augments Demand for Rodenticides
A Snapshot of Select Rodent-Borne Diseases
Climatic Changes Encourage Rodent Proliferation, Widening the Scope of Rodenticides
Rodent Adaptation to COVID-19 Environment Requires New Protocols to Navigate the Situation
Manufacturers Focus on New Formulations to Address Limitations
Natural and Eco-friendly Rodenticides Seek Role
Rodent Disruption in Farmlands Spurs Demand
Shrinking Arable Land Drives Demand
Growing Emphasis on Integrated Pest Management to Bolster Growth
Increasing Rodent Population and the Rise in Associated Threats Drive Demand for Rodenticides
Exponential Increase in Urbanization and Rise in Rodent Menace Spur Demand
Food Service Restaurants: An Important Market
Rise in Construction Activity and Need for Rodent Control Programs to Augment Demand for Rodenticides
Rise in use of Digital Traps to Alter Demand for Rodenticides
MARKET CHALLENGES AND ISSUES
Increasing Immunity to Rodenticides Sparks Fear about Spike in Population
Potential Ban on Select Rodenticides Following Concerns over Wildlife Poisoning
Toxicity Profile of Select First-Generation Anticoagulants
Toxicity Profile of Select Second-Generation Anticoagulants
Toxicity Profile of Select Non-Anticoagulant Rodenticides
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/n1xtzq
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005781/en/
Laura Wood, Senior Press Manager
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