Rodenticide Market Shows Robust Growth, Forecasted to Reach $7.29 Billion in 2024
The Business Research Company’s Rodenticide Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ — The rodenticide market has shown strong growth, expanding from $6.64 billion in 2023 to an expected $7.29 billion in 2024, with a CAGR of 9.8%. This growth is driven by increasing awareness of sanitation and hygiene, heightened demand from hospitality and tourism sectors, growing construction activities, rising rodent damage, and the spread of vector-borne diseases. Looking ahead, the market is poised for rapid expansion, projected to reach $10.91 billion by 2028 at a CAGR of 10.6%. Key growth factors include the expanding agricultural sector, rising number of warehouses, urbanization trends, and increasing food waste. Major trends shaping the market include the adoption of fast-acting rodenticides for swift eradication, direct-to-consumer (D2C) platforms for specialized pest control, emphasis on product innovation, and strategic partnerships to enhance product portfolios and geographic reach.
Rising Demand for Rodenticides Drives Market Expansion
The rising need for rodenticides stems from their crucial role in controlling rodent populations, which pose significant threats to public health and infrastructure. With rodents causing damage across various sectors, including agriculture and urban environments, rodenticides play a pivotal role in mitigating these risks.
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Key Players and Market Trends
Major companies like BASF SE, Syngenta, and Bayer AG are focusing on innovative solutions to enhance product effectiveness and safety. For instance, Syngenta introduced the Talon Soft XT rodenticide in June 2022, a paste formulation designed for precise and rapid application, catering specifically to challenging rodent populations.
In strategic moves, companies are expanding their portfolios through partnerships and collaborations, aiming to strengthen their market presence and address evolving customer needs effectively.
Segments Driving Market Growth
The rodenticide market is segmented based on:
•Type: Anticoagulant, Non-Anticoagulant
•Form: Pellet, Spray, Powder, Other Forms
•Application: Agriculture, Warehouses, Pest Control Companies, Other Applications
Each segment serves distinct purposes, from agricultural pest management to specialized pest control services, reflecting the diverse applications of rodenticides across industries.
Geographical Insights: Asia-Pacific Emerges as a Key Market
North America currently leads the rodenticide market, driven by stringent pest control regulations and high adoption rates in various sectors. Meanwhile, Asia-Pacific is anticipated to witness the fastest growth, supported by rapid urbanization, increasing food waste, and expanding agricultural activities.
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Rodenticide Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Rodenticide Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on rodenticide market size, rodenticide market drivers and trends, rodenticide market major players, competitors’ revenues, market positioning, and market growth across geographies. The rodenticide market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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