The global insect pest control market size is expected to reach USD 18.93 billion by 2030 according to a new study by Polaris Market Research. The report “Insect Pest Control Market Share, Size, Trends, Industry Analysis Report, By Insect Type, By Application, By Control Method (Chemical, Physical, Biological, Others), By Form (Dry, Liquid), By Region, Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing economic activities, rising construction activities worldwide owing to the rising population may impel market growth over the forecast period. In addition, the proliferation of AI and IoT in pest regulators is also creating several profitable opportunities for market growth.
Moreover, utilization of pest regulators in residential and non-residential, as well as government regulations on public health, food safety, and environmental protection, is expected to propel the industry demand over the forecast period. Based on the method, the chemical segment holds the highest share in the global industry in 2021, owing to the utilization of chemicals being comparably cheap, effective, and readily available.
Moreover, increasing economic activities and rising construction further people the segment demand around the world. Whereas, the biological segment is likely to grow at a healthy rate in the foreseen years due to the growing concern for the health due to chemical components as well as biological regulator method does not show or little impact on human health and environment. Therefore, these factors may create lucrative segment growth in the foreseen future.
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Market participants include Korea Henkel home care Co. Ltd., Rollins, Inc., Rentokil Initial Group, Bayer, Sumitomo Chemical, Syngenta, BASF, Terminix, FMC Corporation, and ADAMA are some of the key players operating in the global industry. Numerous industry competitors are taking several strategic moves such as mergers and acquisitions to intensify their business growth. For instance, in May 2021, ADAMA has acquired a 51% stake in the China-based Huifeng (China). With this acquisition, the acquirer would access the acquiree’s crop protection formulation facilities and will embolden its presence in the country.
Polaris Market Research has segmented the insect pest control market report on the basis of insect type, application, control method, form, and region:
Insect Pest Control, Insect Type Outlook (Revenue - USD Billion, 2018 - 2030)
Insect Pest Control, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Insect Pest Control, Control Method Outlook (Revenue - USD Billion, 2018 - 2030)
Insect Pest Control, Form Outlook (Revenue - USD Billion, 2018 - 2030)
Insect Pest Control, Regional Outlook (Revenue - USD Billion, 2018 - 2030)