DUBAI, U.A.E, Oct. 15, 2021 /PRNewswire/ -- Future Market Insights (FMI), Dubai: As per Future Market Insights, the global pest control services market will surpass US$ 21.9 Bn in 2021. The market is projected to witness healthy growth at 6.2% CAGR between 2021 and 2031.
Driven by growing demand for organic pesticides, the market is expected to witness incremental growth opportunities within agriculture and residential sector. As per FMI, demand for organic pesticides is set to increase at 7.7% CAGR through 2031.
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Rising incidence of pest infestation in residential sector have increased the demand for organic pest control services. With surging awareness regarding the hazardous effect of chemical pest control, need for bio-pesticides.
Additionally, pest infestation in crops results in adverse health effects due to low-quality food. Hence, farmers are opting for organic pest control services to lessen the damage in crop health and retain the crop quality.
As consumers are getting more aware about the sanitation due to the outbreak of various vector-borne diseases, demand for natural pest control services has increased. In order to capitalize on existing opportunities, manufacturers are developing sustainable and organic pesticides to increase their revenue.
Subsequently, integration of advanced technologies such as artificial intelligence to detect pest infestation will result in higher revenue generation. Hence, farmers are adopting integrated pest management to yield higher gains and lessen the damage.
Further, stringent food and safety regulations imposed by regulatory authorities are pushing the sales of pest control services. As per Centers for Disease Control and Prevention (CDC), around 48 million people in the U.S. are diagnosed with food-borne diseases and approx. 128,000 people are hospitalized, with 3,000 succumbing to death.
Acknowledging the high burden, regulatory authorities such as the U.S. Food and Drug Administration (FDA) has imposed strict regulations for efficient sanitation in hotels, restaurants, and offices. Thereby, increasing the sales of pest control services.
"Increasing demand for organic pesticides is expected to create lucrative growth opportunities for key players. However, consumers rising preference for 'do-it-yourself' pest control methods and natural pesticides has compelled the players to introduce more sustainable and eco-friendly pesticides. This is expected to propel the growth in the market," says the FMI analyst.
Key Takeaways from FMI's Pest Control Services Market Survey
- Chemical pest control services segment is expected to hold second-largest market share after organic, enabling sales at 5.9% CAGR through 2031
- In terms of product, insecticides will hold lion's share, projecting growth at 7% CAGR during the forecast period
- Demand for pest control services will rise in residential sector exponentially, with the segment accounting for nearly 35% of total market share
- Over 75% of pest control services sales to be contributed by insect control application segment
- Demand for pest control services in the U.S. is projected to surge at 5.1% CAGR through 2021 & beyond
- Increasing pest infestation across the U.K. is resulting in high demand for pest control services, with market exhibiting growth at 3.9% CAGR
- Growing demand from agriculture industry across India will drive the pest control services market at 8.4% CAGR by 2031-end
- Japan pest control services market to account for over 16% of the East Asia share in 2031
- Rising incidence of vector-borne diseases across the globe have surged the adoption of pest control services
- Increasing government initiatives to encourage and promote public health initiative will drive the market
- Advent of biological pest control solutions coupled with integration of artificial intelligence (AI) in pest control will bolster the growth in the market
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- High registration cost and risks associated with pesticide storage are likely to hamper the growth in the market
- Tedious procedure and interminable time taken by regulatory authorities is expected to restrict the demand
Leading players are actively participating in organic and inorganic growth strategies such as product launches, mergers, and collaborations to increase their revenue. Apart from this, players are also investing in research and development activities to develop organic pesticides.
Key players are also adopting advanced technologies such as artificial intelligence (AI) to gain competitive edge in the industry.
- In August 2021, Western Pest Services acquired Abalene Termite and Pest Control, to expand the customer base across New Jersey and Pennsylvania.
- In April 2021, Halle Capital Management, a New York-based growth equity investment firm, announced the launch of Rockit Pest, Inc., a newly formed company focused on acquiring and operating regional pest control companies.
- Another leading company, BW Home Services announced the addition of its new pest control division, in order to offer optimized services and safety through pest control.
Some of the key players operating in the pest control services industry market profiled by FMI are:
- Rollins, Inc.
- Rentokil Initial PLC
- Cook's Pest Control, Inc.
- ABC Home & Commercial Services
- Animal Pest Management Services, Inc.
- Lloyd Pest Control
- Green Earth Pest Control, LLC
- Aptive Environmental, LLC
- Home Paramount Pest Control, LLC
- Dodson Pest Control
- Environmental Pest Service, LLC
- Truly Nolen of America, Inc.
- Florida Pest Control & Chemical
- Massey Services, Inc.
- Arrow Exterminators
- Ecolab, Inc.
- Green Pest Solutions
- Apex Pest Control, Inc.
- Hulett Environmental Services
- Plunkett's Pest Control
- Senske, Inc.
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More Valuable Insights on Pest Control Services Market
FMI, in its new report, offers an unbiased analysis of the global pest control services market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in pest control services market with detailed segmentation:
- Other Chemicals
- Other Products
By Service Type:
- Chemical Control Services
- Mechanical Control Services
- Other Pest Control Services
By End User:
- Commercial and Industrial
- Rodent Control
- Insect Control
- Bed Bugs
- Other Insect Control
- Wildlife Control
- Other Applications
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Key Questions Covered in the Report
- The report offers insight into pest control services market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for pest control services market between 2021 and 2031
- Pest control services market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Pest control services market platform share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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