Pest Control Market: Growth Opportunities and Recent Developments

Northbrook, USA, 2020-Feb-11 — /EPR Network/ — The increasing scope of urbanization and climate change has had a profound impact on pest proliferation, which has witnessed a significant increase over the past decade. The increasing scope of infrastructure and development of megacities have witnessed immense growth in the Asia Pacific and South America, which are among the fastest-growing markets for pest control solutions. The pest control market has been evolving for decades. Due to the growing demand for pest control from the residential sector, the development of automated traps and biological methods in the form of integrated pest management has benefited the market. The pest control market is estimated to be valued at USD 20.5 billion in 2019 and is projected to reach USD 27.5 billion by 2025, at a CAGR of 5.04% during the forecast period.

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Pest management includes controlling infestations of insects, animals, germs, or other organisms that damage property, destroy food crops, and have adverse effects on the environment. Pest control is the process of minimizing or eradicating a wide range of undesirable insects and other pests from areas used for productive purposes, by using chemicals, technologies, special equipment, and other safety measures. There have been rising instances of epidemics caused by pests such as cockroaches, bedbugs, rodents, termites, mosquitoes, flies, and ants, across the globe. Various types of insecticide formulations are prevalent; these vary according to insect type, target site, formulation, active ingredient used, application rate, permit requirements, and product registration.

The mechanical control method dominates the pest control market among the types of pest control methods used by pest management professionals. Mechanical control is a means of controlling pests and diseases with the help of mechanical measures, which include the use of traps, UV radiation devices or baits, mesh screens, and ultrasonic vibrations. Sticky traps, insect traps, trap plants, and pheromone traps are useful for trapping winged insects. In the flooding technique, a piece of ground is flooded for a sufficient period, where most harmful organisms die due to lack of oxygen. Advancements in mechanical methods of pest control have yielded new technologies, including connected traps. The increasing technological influence on mechanical pest control is expected to yield more products in the future as consumer adoption increases.

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The North American market for pest control has strong potential to remain as the leading market in the coming years. North America is the largest market for pest control, with more than 50% of the market share. There are over 20,000 pest control companies in North America, with an average of six technicians in each company. The effects of climate change are profound in certain regions of the US including the Midwest and states along the eastern seaboard. This has led to increased demand for pest control services and products in these regions. The strengthening of the housing market and a steadily improving economy have led to increased investments in both residential and commercial properties. According to the US Census Bureau and the US Department of Housing and Urban Development, nearly 667, 000 new single-family houses were sold in February 2019, compared to 588,000 new single-family houses in December 2018. Thus, with the increasing number of new houses, the demand for pest control products and services is also projected to increase between 2019 and 2025.