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Rodenticide Global Market Report 2023

ReportLinker
ReportLinker

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.

New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rodenticide Global Market Report 2023" - https://www.reportlinker.com/p06424007/?utm_source=GNW
, Ecolab, Anticimex, and Truly Nolen.

The global rodenticide market grew from $5.94 billion in 2022 to $6.45 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The rodenticide market is expected to grow to $8.87 billion in 2027 at a CAGR of 8.3%.

The rodenticide market consists of sales of non-anticoagulant rodenticides such as bromethalin, zinc phosphide and cholecalciferol.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

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. Rodenticides are used for killing rats, mice, and other rodent pests.

North America was the largest region in the rodenticide market in 2022.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 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.

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 USD 24 billion by 2025. Therefore, the increase in the growth of the agricultural industry is driving the growth of the rodenticide market.

Product innovation has emerged as a key trend gaining popularity in the rodenticide market.Major companies operating in the rodenticide sector are focused on developing innovative rodenticides that control rodent infestations effectively to sustain their position in the market.

For instance, in April 2021, BASF SE, a German chemicals company launched an innovative rodenticide to address super-rat resistance in the UK.It is a new bait that is effective in limiting infestations of super-rats – rodents unaffected by anticoagulants.

The new product is made from the active ingredient cholecalciferol that causes death from hypercalcaemia. It avoids wastage in farms, preventing further contamination and spread of disease.

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 market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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.
Read the full report: https://www.reportlinker.com/p06424007/?utm_source=GNW

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