Insect Pest Control Market is Projected to Grow $15.8 billion by 2026

The global Insect Pest Control Market size is estimated to be valued at USD 12.3 billion in 2021 and projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1% during the forecast period.

The change in climate conditions is a significant factor that has contributed to the growth of the insect pest control market. This is attributed to global warming, which leads to changes in the population dynamics of insects and their ecosystems, as they are found prominently in warmer climates. Simultaneously, application methods have also become easier and safer to handle through larvicides, residual sprays, ultra-low volume sprays, and baits. This is expected to be a major driver for the growth of the insect pest control market.

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Insect pest controls have wide application in industrial and commercial segment, residential, and livestock farming practices. The residential segment mainly requires pest control services for the containment of cockroaches, bed bugs, mosquitoes, and termites. Insect pest control is recommended for localized areas and home applications. Baits are also used for indoor and outdoor applications in residential areas.

Growing industries, commercial plazas, residential societies and livestock farming, have significantly contributed to the growth of the insect pest control market in North America. The rising growth of termites, cockroaches, mosquitoes, ants, flies, and bedbugs are another factor that is expected to boost the demand for insect pest control market. Due to strict rules and regulations and an increase in health-conscious consumers has led to the increased use of insect pest control services and has offered a market opportunity for the insect pest control market.

In terms of control method, the market is segmented into various methods, namely, chemical, physical, and biological. Chemical control methods include chemicals of various classes such as chlorinated hydrocarbons, carbamates, organophosphates, pyrethroids, pyrroles, and neonicotinoids. These control methods are preferred globally due to instant results, availability, longer duration, and greater coverage area.

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In terms of insect types, the mosquito segment is projected to grow at the highest CAGR during the forecast period. Due to increases in vectored diseases, the end-consumer are demanding the mosquito control services and products in the market. The common mosquito-vectored diseases include protozoan diseases such as malaria & filarial diseases and viruses such as dengue, encephalitis, and yellow fever hampered the humans. Mosquito-borne diseases that animals are susceptible to include dog heartworm, West Nile virus (WNV) and Eastern equine encephalitis (EEE) shows the negative impact on animal health.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, Key players in this market include BASF (Germany), Bayer (Germany), FMC Corporation (US), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), and ADAMA (Israel).

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Created on Jan 17th 2022 06:45. Viewed 166 times.

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