Major players in the rodenticide market are BASF SE, Syngenta, Bayer AG, Senestech Inc, Rentokil Initial PLC, Neogen Chemicals, PelGar International, Liphatech Inc, Bell Laboratories Inc, Impex Europa, JT Eaton & Co Inc, Ecolab, Anticimex, and Truly Nolen.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rodenticide Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370325/?utm_source=GNW
The global rodenticide market is expected to grow from $ 5.46 billion in 2021 to $ 5.86 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The rodenticide market is expected to grow to $ 7.54 billion in 2026 at a CAGR of 6.5%.
The rodenticide market consists of sales of rodenticide products by entities (organizations, sole traders, and partnerships) that are used for killing rats, mice, and other rodent pests.Rodenticides are created from the most hazardous substances frequently present in homes.
Typically, rodenticides are created as baits that are intended to attract animals. They have different flavors, such as fish oil, molasses, or peanut butter, which attract rodent pests.
The main types of rodenticides are anticoagulant and non-anticoagulant.An anticoagulant refers to a blood thinner that kills rodents by stopping normal blood clotting.
The different forms include pellets, sprays, and powder that are used in agricultural fields, warehouse pest control companies, and other applications.
North America was the largest region in the rodenticide market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the rodenticide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the agricultural industry is expected to propel the growth of the rodenticide market going forward.The agriculture industry refers to enterprises or companies that are majorly involved in cleaning, processing, storing, or packing various types of products that are mainly obtained from agricultural production.
Rodenticides are mostly used in the agricultural industry to protect agricultural products from rats, mice, and other rodent pests.For instance, according to the United States Department of Agriculture, a US-based agricultural department, Soybean plantations across the US increased to 90 million acres in 2021 from 83 million acres in 2020.
Also, corn plantations increased to 92 million acres in 2021 from 90.8 million in 2020. Additionally, according to Inc42, an India-based media platform, the Indian agricultural sector is predicted to increase to US$ 24 billion by 2025. Therefore, the increase in the growth of the agricultural industry is driving the growth of the rodenticide market.
Development of eco-friendly rodenticide has emerged as a key trend gaining popularity in the rodenticide market.Major companies operating in the rodenticide sector are focused on developing eco-friendly rodenticides to sustain their position in the market.
For instance, in March 2019, EcoClear Products, a US-based manufacturer of cleaning and pest control products for residential and commercial properties which develops rodent and insect-control products, launched VoleXTM, a highly efficient and environmentally friendly rodenticide used to eradicate voles.VoleXTM’s special formulation, made from all-natural materials, attracts voles by aroma and taste and exterminates them as humanely as possible.
VoleX works from the inside out to exterminate voles, also, dries them out after the death of rats, and helps to reduce odor by as much as 90%. It is used in 20–40 lbs per acre and is mixed with dry fertilizer and sprayed on crops.
In September 2020, ZEP Inc, a US-based leading specialty chemical manufacturer that offers a wide variety of products including pest control products, acquired EcoClear Products for an undisclosed amount. This acquisition helps ZEP Inc. to strengthen its product portfolio and launch new products. EcoClear Products is a US-based company that produces rodenticides and insecticides.
The countries covered in the rodenticide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rodenticide report is one of a series of new reports that provides rodenticide statistics, including rodenticide industry global market size, regional shares, competitors with a rodenticide share, detailed rodenticide segments, market trends and opportunities, and any further data you may need to thrive in the rodenticide industry. This rodenticide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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