Pest Control Products And Services Market is Estimated to Witness High Growth Owing to Opportunity of Rising Pest Infestations

Pest Control Products And Services Market


The pest control products and services market includes various chemical and mechanical products that help eliminate or control pests such as rodents, termites, bedbugs, cockroaches, flies, mosquitoes and more. Pest control products include insecticides, rodenticides, disinfectants and others that are used to kill or repel pests. Pest control services include regular pest inspections, pest extermination methods using baits, sprays and fumigation. With rising global warming and changes in weather patterns, pest infestations around the world have increased, creating a high need for pest control products and services to protect homes and commercial spaces from vector borne diseases.

The Global Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The rising pest infestations around the world, especially in tropical regions is one of the key opportunities driving growth of the pest control products and services market. Factors such as increasing agricultural activity, global warming, changes in climate patterns and unchecked urbanization have contributed to growth and spread of pests like termites, rodents and mosquitoes carrying diseases. With rising health and economic impact of pest-borne diseases, governments and municipal bodies are allocating more funds for integrated pest management programs. This is increasing the demand for professional pest control products and services from commercial as well as residential users. The pest control market offers lucrative business opportunities for product manufacturers and service providers especially in emerging regions of Latin America, Asia Pacific and Middle East & Africa.

Porter's Analysis
Threat of new entrants: The pest control products and services market requires high initial investment in obtaining licenses, equipment, and developing distribution networks. This acts as a barrier for new companies.
Bargaining power of buyers: The market has large number of buyers in commercial and residential sectors. However, their bargaining power is moderate as buyers cannot shift to substitutes easily in case of price rise.
Bargaining power of suppliers: The market has many raw material suppliers. The bargaining power of suppliers is moderate as branded product manufacturers can switch to alternative suppliers in case of high prices.
Threat of new substitutes: Substitutes include do-it-yourself pest control products and illegal pest control practices. However, their threat is low due to effectiveness and safety concerns.
Competitive rivalry: The market is moderately competitive with presence of various global and regional players. The competitive rivalry is high due to technological advancements and product differentiation.

SWOT Analysis
Strengths: Global presence of key players, innovation in products, and licensing & regulations.
Weaknesses: Seasonal nature of demand, high initial investment requirements, and exposure to economic cycles.
Opportunities: Untapped rural markets, rising urbanization, and growth in commercial real estate sector.
Threats: Stringent regulations, environmental concerns over chemicals, and substitutes.

Key Takeaways
Global Pest Control Products And Services Market Demand is expected to witness high growth over the forecast period. The Global Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

North America dominates the market currently due to high infestation rates and regulatory compliance. Asia Pacific is expected to be the fastest growing market attributed to rapid urbanization and rising construction activities in countries like China and India.

Key players operating in the pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Regional players are focusing on expanding their presence through strategic partnerships and mergers and acquisitions. Ecolab Inc., Rollins Inc. and Rentokil Initial Plc. hold major market share globally. 

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