LONDON, Jan. 24, 2017 /PRNewswire/ -- "The insect pest control market is projected to grow at a CAGR of 5.67%"
The global insect pest control market is projected to grow significantly from an estimated value of USD 12.46 billion in 2016 to USD 17.35 billion by 2022, at a CAGR of 5.67%. The insect pest control market is driven by government regulations on food hygiene, public health, and environmental health and the growing public awareness; the need to improve service quality for customers are expected to provide an impetus for innovative pest control solutions. Lack of skilled technicians and delayed regulatory approval process for chemical products in different applications (such as residential, commercial, and industrial areas) have been considered as restraining factors for the market.
"Commercial & industrial segment dominated the insect pest control market"
The profound need for professional pest control solutions has been significant among customers in this sector especially for food manufacturing and hospitality sectors in urban areas, to maintain a hygienic environment for the control of cockroaches, bedbugs, flies, and mosquitoes.
"Biological control is projected be the fastest-growing control method during the forecast period"
The growing decline in chemical products in terms of effectiveness towards pests slowly shifted the focus on microbial products such as Bacillus thuringiensis and microbial extracts, which have been proved to be effective on the insect vectors without much development of insecticide resistance.
"Termite control accounted for the largest market share among different pest cases, in 2015"
Termite control products and services have been sought mostly by both residential and industrial sectors in regions such as North America and Asia-Pacific, which has resulted in its strong demand.
"North America: The largest market for insect pest control products and services"
North America accounted for the largest market share in 2015 due to its significant growing demand in both commercial and residential applications. Asia-Pacific is projected to be the fastest-growing region from 2016 to 2022 due to the stringent need for commercial establishments and industrial sectors (such as food processing, food service industries, and tourism sectors) to comply with pest control regulations within their premises.
Break-up of Primaries:
- By Company Type – Tier 1- 40%, Tier 2- 35%, Tier 3- 25%
- By Designation – C level- 26%, Directors- 19%, Others- 55%
- By Region – Asia-Pacific- 36%, Europe- 21%, North America- 17%, RoW- 26%
Leading players profiled in this report are as follows:
- BASF SE (Germany)
- FMC Corporation (U.S.)
- Syngenta AG (Switzerland)
- Bayer AG (Germany)
- Rentokil Initial plc. (U.K.)
- Ecolab, Inc. (U.S.)
- Bell laboratories Inc. (U.S.)
- Arrow Exterminators Inc. (U.S.)
- Rollins, Inc. (U.S.)
- The Terminix International Company LP (U.S.).
The insect pest control market has been segmented on the basis of insect type, application, and control method, which are further divided into their subsegments. It has also been segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to Buy This Report:
- To get a comprehensive overview of the global insect pest control market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players.
- To gain insights about country- and region-based market trends and growth prospects in the insect pest control market.
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