Global Residential Pest Control Products Market Is Expected to Generate $11.5 Billion by 2031: Allied Market Research
The development of various advanced UV and LED technology-based electronic insects and fly traps serves as a potential opportunity for the expansion of the global residential pest control products market. Moreover, during the pandemic, the e-commerce segment played an exceptional role in the distribution and sales of the residential pest control products during the lock down situation, while the traditional brick and mortar stores were completely closed.
Portland, OR, Sept. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global residential pest control products market garnered $6.6 billion in 2021, and is estimated to generate $11.5 billion by 2031, manifesting a CAGR of 5.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $6.6 billion |
Market Size in 2031 | $11.5 billion |
CAGR | 5.8% |
No. of Pages in Report | 528 |
Segments covered | Type, Application Techniques, Pest Type, Distribution Channel, and Region. |
Drivers | The rising technological advances |
The growing adoption of digital technologies | |
The development of various advanced UV and LED technology-based electronic insects and fly traps | |
The rising popularity of the organic pest control products | |
The implementation of stringent government regulations pertaining to promote the application of bio-based pesticides | |
Opportunities | Ongoing R&D activities to increase the dependency on bio-based pesticides |
Restraints | Toxicity and health-related issues due to chemicals present in pesticides |
Covid-19 Scenario:
The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global residential pest control products market.
The demand for the pest control products increased significantly owing to increase in health awareness among people across the world. The increased health consciousness among the population resulted in increased adoption of pest control products to keep themselves and their family, protected from the diseases caused and spread by the insects and various other pests.
The e-commerce segment played an exceptional role in the distribution and sales of the residential pest control products during the lock down situation, while the traditional brick and mortar stores were completely closed during the pandemic.
The research provides detailed segmentation of the global residential pest control products market based on Type, Application Techniques, Pest Type, Distribution Channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the chemical pest control segment held the highest share in 2021, accounting for more than three-fifths of the global residential pest control products market, and is expected to continue its leadership status during the forecast period. However, the organic pest control segment is expected to register the highest CAGR of 7.2% from 2022 to 2031.
Based on application, the sprayers segment accounted for the highest share in 2021, contributing to more than one-third of the global residential pest control products market, and space treating equipment is expected to maintain its lead in terms of revenue during the forecast period. However, the dusters segment is expected to manifest the highest CAGR of 6.5% from 2022 to 2031.
Based on distribution channel, the supermarkets and hypermarkets segment accounted for the highest share in 2021, holding nearly one-third of the global residential pest control products market, and e-commerce is expected to continue its leadership status during the forecast period.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the total residential pest control products market share, and Asia-Pacific is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 8.0% during the forecast period.
Leading market players of the global residential pest control products market analyzed in the research include BASF SE, Bayer AG, ANTICIMEX, EcoClear Products, ECOLAB, FMC CORPORATION, SYNGENTA, NBC ENVIRONMENT, ADAMA Ltd, SUMITOMO CHEMICAL CO. LTD., CORTEVA, Bell Laboratories Inc., RATSENSE, Brandenburg, and PelGar International.
The report provides a detailed analysis of these key players of the global residential pest control products market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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