Rise in urbanization along with exponential growth of population, variations in climatic conditions, and ease in availability of products propel the growth.
OREGON, PORTLAND, UNITED STATES, September 21, 2021 /EINPresswire.com/ — The global rodent control market garnered $2.4 billion in 2019, and is estimated to reach $3.9 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027. The report offers a detailed analysis of changing market trends, top wining strategies, key segments, value chain, product portfolio, and competitive scenario. The research is valuable for new entrants, leading players, stakeholders, and investors to gain insights and take further steps.
Rise in urbanization along with exponential growth of population, variations in climatic conditions, and ease in availability of products propel the growth of the global rodent control market. However, stringent regulations along with ban on usage of chemical based rodent control products hinder the market growth. On the other hand, R&D activities for creating bio-based rodenticides offer new opportunities in the coming years.
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Based on type, the chemical segment contributed for nearly two-fifths of the total market share in 2019, and is estimated to continue its highest share in terms of revenue throughout the forecast period. Moreover, the biological segment is expected to witness the fastest CAGR of 7.3% from 2020 to 2027. The research also analyzes segments including mechanical and others.
Based on application, the residential segment held the highest market share with nearly one-third of the total market share in 2019, and is estimated to maintain its leadership position during the forecast period. However, the commercial segment is expected to witness the fastest CAGR of 6.8% from 2020 to 2027. The research also discusses segments such as industrial, agriculture, and others.
Based on region, North America accounted for the highest share in terms of revenue, contributed for nearly half of the total market share in 2019, and is estimated to maintain its lead in terms of revenue throughout the forecast period. Contrarily, Asia-Pacific is expected to register the fastest CAGR of 7.5% from 2020 to 2027. The research also discusses regions including Europe and LAMEA.
Key market players analyzed in the research include Anti cimex, Bayer AG, BASF SE, Neogen Corporation, Ecolab Inc., Rentokil Initial Plc, PelGar International, Senestech Corporation, Rollins Inc., and Syngenta AG. They have adopted various strategies including new product launches, collaborations, mergers and acquisitions, partnerships, and others to gain a strong position across the globe.
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Source: EIN Presswire