The global Rodenticides Market size is estimated to account for a value of USD 4.9 billion in 2020 and is projected to grow at a CAGR of 5.0% from 2020, to reach a value of USD 6.6 billion by 2026. The impact of climate change on rodent proliferation alongside the increasing damage by the infestation of rodents are some of the factors driving the growth in the market.
Constraint: Stringent regulations and the ban on the use of rodenticides in developed countries
The usage of rodenticides is subject to registration by health, environmental protection, and pest control agencies in various countries. Governments evaluate the policies related to the purchase, registration, formulation, application, and disposal of pesticides. The nature of government policies affects the demand and prices of rodenticides. According to Rentokil, the use of rodenticides as control and preventive methods has been restricted in many European and North American countries.
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Anticoagulant, by type, is estimated to grow at the highest rate during the forecast period
Anticoagulant rodenticides are widely used for controlling commensal rodents, which are primarily Norway rats, ship rats, and house mice. Despite the consistent decrease in ecological risk assessments, the anticoagulant segment is projected to dominate the rodenticides market due to the high demand for effective rodent-control alternatives and the lack of safe alternatives.
Pellet, by mode of application, is estimated to hold the largest share in the rodenticides market, in terms of value, in 2020
Pellets offer effective control against commensal rodents and are resistant to various environmental conditions, which makes them suitable for outdoor use. With the increase in urbanization and displacement of rats in city areas, the pellets mode of application is widely used in residential buildings, as they can easily be used with baits.
North America to be the largest market for rodenticides during the forecast period.
High rodent population densities result in increased cases of rodent-borne disease (for instance, Hantavirus) transmission to humans. According to the CDC, the density of rodents that can cause Hantavirus is high in the US states, including Texas, Oklahoma, Louisiana, and Arkansas. Due to these factors, there are plans to eradicate the growing rodent population in North American countries, hence contributing to the high consumption of rodenticides.
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Key Market Players:
Some of the major players operating in the rodenticides market include Bayer AG (Germany), Syngenta AG (Switzerland), BASF SE (Germany), Rentokil Initial Plc (UK), JT Eaton (US), UPL Limited (India), Anticimex (Sweden), The Terminix International Company (US), Liphatech Inc (US), Neogen Corporation (US), PelGar International (UK), Bell Laboratories Inc (US), Ecolab Inc (US), Rollins Inc (US), Abell Pest Control (Canada), Futura Germany (Germany), SenesTech Inc (US), and Impex Europa S.L (Spain).
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