Market Forecast:
Global Rodenticides Market size is projected to be valued at USD 6.3 Billion by 2026 at a CAGR of 4.8% between 2020 and 2026. The demand for rodenticides is increasing with raising awareness of food safety and diseases spread by rodents. The pesticides market has registered tremendous growth in the past few years, and the same trend is expected for the rodenticides market. There is also an increase in the per capita income, which leads to a rise in demand for hygienic living conditions. Additionally, the North American and European markets are witnessing the growing demand for rodenticides.
The key players in the market have been responsive to shifting consumer preferences and are focused on strategic acquisitions, agreements, and partnerships. Moreover, the key players in the market are focusing on expanding introducing new products in the market. For instance, in 2018, BASF SE launched Sentra, a rodent bait formulation based on the active ingredient, cholecalciferol, for rodent control. The product has high efficiency in controlling rodent invasion in just seven days. Such initiatives by major manufacturers are projected to have a significant impact on the rodenticides market size during the forecast period.
Key Players
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- BASF SE (Germany)
- Rentokil Initial Plc (UK)
- Ecolab Inc. (US)
- Rollins Inc. (US)
- UPL Limited (India)
- Anticimex (Sweden)
- The Terminix International Company (US)
- Liphatech Inc. (US)
- Neogen Corporation (US)
- PelGar International (UK)
- Bell Laboratories Inc. (US)
- JT Eaton (US)
- Truly Nolen (US)
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Growth Opportunities in the Market
High Investments in RD: There has been an increasing interest in developing new ingredients in the rodenticide baits. For instance, Connotation, Ltd. based in New Zealand has developed cholecalciferol plus coumatetralyl bait and cholecalciferol plus dopaquinone bait. These two ingredients have two major advantages compared to the other ingredients such as increased efficiency and reduced concentration of active ingredients over singe active ingredient rodenticides. These types of initiatives by companies have created an opportunity in the market.
Increase in demand for rodent pest control services from the hospitality and tourism sectors: Health, safety, and maintaining a proper standard are important factors for the hospitality and tourism sectors. As a result, issues such as rodent control needs to be managed properly as it can affect the revenue. Furthermore, growing entertainment and hospitality sectors as a result of high consumer purchasing power are further creating an opportunity for global rodenticides market growth.
By Region
- North America: North America dominated the global rodenticides market in 2019 with the US, being the dominant market for rodenticides, accounting for the majority share. The increasing number of rodent control products and services owing to the increasing population of rodents is expected to drive the growth of the rodenticides industry. Moreover, the presence of major manufacturers in the region is also contributing to the market growth.
- Europe
- Asia-Pacific: Asia-Pacific is expected to grow at the highest CAGR during the forecast period with China, being the dominant market for rodenticides, accounting for the majority share. The increasing demand for rodenticides owing to the increasing rat infestations in agriculture as well as in warehouses has fuelled the demand for rodenticides in this region.
- Rest of the World
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