April 13, 2024

Pest Control Products And Services Market Is Thriving By Urbanization And Growing Commercial Establishments

The pest control products and services market involves products and services that are used to eliminate or control pests such as insects, rodents, and other forms of wildlife from households, commercial establishments, agriculture, and other areas. Common pest control chemicals include insecticides, rodenticides, disinfectants, and other pest control equipment. The growing urbanization and commercial infrastructure development has increased the threat of pest infestation, boosting demand for effective pest control products and services.

The Global Pest Control Products And Services Market is estimated to be valued at US$ 27.4 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Pest Control Products And Services market include Integrated DNA Technologies, Inc., Thermo Fisher Scientific Inc., Eurofins Genomics, Biomers.net, GenScript. These companies collectively account for major market share due to their diverse product portfolio and wide geographical presence across global locations. The increasing commercial construction and infrastructure development activities have considerably elevated the instances of pest infestation, especially in densely populated urban regions. This has boosted the demand for advanced pest control products and services from the industrial and commercial sectors. In addition, growing international trade and tourism has promoted global expansion of harmful pests into new territories, requiring effective localized as well as cross-border pest control measures.

Market key trends

One of the key trends observed in the Pest Control Market Size is growing adoption of eco-friendly biopesticides. With rising health and environmental concerns regarding use of chemical pesticides, many market players have launched biopesticides obtained from natural materials like plants, bacteria, and certain minerals. For example, products containing extracts or oils from neem, garlic, chillies, and pyrethrum flowers to control pests. These biopesticides are biodegradable and cause minimal harm, thus supplementing the transition towards sustainable pest management practices.

Porter’s Analysis
Threat of new entrants: The pest control market requires heavy investments for R&D, brands, and marketing which creates entry barriers.

Bargaining power of buyers: Buyers have moderate bargaining power due to presence of many pest control service providers.

Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute raw materials and components.

Threat of new substitutes: Threat of new substitutes is moderate as other methods of pest control can be used.

Competitive rivalry: Intense competition exists among existing players to gain market share.

Geographical Regions
North America currently holds the largest share of the pest control market in terms of value owing to increasing professional pest control services and growing consumer awareness. Asia Pacific is expected to be the fastest growing region during the forecast period due to rising urbanization and construction activities in countries like India and China. The population growth and increasing food demand in Asia Pacific is also driving the need for pest control in the agriculture industry.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it