According to Precision Business Insights (PBI), the latest report the global Of pest control market is expected to be worth USD 21.6 billion in 2021 and projected to grow at 5.2% CAGR from 2022 to 2028.
According to Precision Business Insights (PBI), the latest report the global Of pest control market is expected to be worth USD 21.6 billion in 2021 and projected to grow at 5.2% CAGR from 2022 to 2028. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Management of pest such as termites, rodents, bed bugs, cockroaches and other pest which can cause health hazards to the human beings is called as pest control. There are pest control services which are easily available in the market for keep the surrounding pest-free. They are available in both commercial and industrial settings providing hygienic solution free of pests. Increase in industrialization led to growth in pest control services, rise in insurance based services, change in climatic conditions, and implementation of stringent regulations for production industries, which require pest control process are anticipated to fuel the chemical pest control market. Moreover, rise in awareness about the pest control among key stakeholders, wider service availability, and high disposable income are expected to boost the biological pest control market. However, high cost of pest control services and implementation of stringent regulatory guidelines for pesticides usage are anticipated to hamper the growth of rodents pest control market.
And lastly, on the basis of the geographical regions, the global pest control market have five major regions- North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America chemical pest control market accounted for significant share owing to presence of huge number of pest control companies in North America region and stringent food safety and hygiene regulations are expected to fuel the market. European biological pest control market is growing due to increase in number of pharmaceutical and food and beverages industries, and adoption of newer pest control methods in the region. Asia Pacific biological pest control market anticipated to hold significant share due to increase in awareness about pest control services among the people and joint venture between the market players. Latin America pest control market expected to exhibit significant growth rate owing to increase in the number of food and beverage industries, stringent regulations for production industries regarding hygienic environment, and growing health concerns in the region.
Some of the key players in the global pest control market include Terminix International Company Ltd. (U.S.), Rentokil Initial plc. (U.K.), Pest control Pvt. Ltd. (India), SenesTech, Inc. (U.S.), Ecolab Inc. (U.S.), Sanix Incorporated (Japan), Arrow Exterminators Inc. (U.S.).