Rodenticides Market Zooms Towards Billion-Dollar Valuation: Estimated to Reach USD 3.01 Billion by 2030: Verified Market Research®
The “Global Rodenticides Market Size By Product (Non-anticoagulants, Anticoagulants), By Application (Pellets, Powder & Spray), By End-User (Pest Control Companies, Agriculture), By Geographic Scope & Forecast, 2023-2030” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Rodenticides Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., May 19, 2023 /PRNewswire/ — The Global Rodenticides Market is projected to grow at a CAGR of 3.60% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.19 Billion in 2021 and is expected to reach USD 3.01 Billion by the end of the forecast period.
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Browse in-depth TOC on “Rodenticides Market”
202 – Pages
126 – Tables
37 – Figures
Rodenticides Market Thrives as Rodent Infestation and Disease Risks Increase
The global rodenticides market is experiencing significant growth, driven by the rising need to control rodent populations, combat crop and property damage, and mitigate the spread of diseases caused by rodents. Rodenticides, a type of pesticide designed specifically for rodents, have emerged as an effective solution in safeguarding public health and addressing economic losses.
Rodents, including squirrels, woodchucks, chipmunks, porcupines, nutria, beavers, rats, and mice, pose a considerable threat to agricultural crops, residential areas, and commercial establishments. Furthermore, rodents are known carriers of various diseases, making their control and eradication vital for public health and safety.
Rodenticides are formulated in various forms such as ground meat, vegetables, cereals, and fruits. These baits are often enhanced with enticing flavoring agents like fish oil, molasses, or peanut butter to attract rodents. The efficacy of rodenticides lies in their ability to quickly eliminate disease-carrying rodents, particularly mice. Several chemicals, including sulfur dioxide, carbon monoxide, hydrogen cyanide, and methyl bromide, are utilized in rodenticide formulations.
One of the primary market drivers for rodenticides market is the alarming rate at which rodents cause diseases and economic losses. Governments worldwide have recognized the urgent need to regulate public health and sanitation in both residential and commercial areas. As a result, the demand for rodenticides has skyrocketed, particularly in major cities grappling with rodent infestation and disease outbreaks.
The pest control companies segment has emerged as the dominant segment in the rodenticides market, accounting for the largest market share. These companies extensively employ rodenticides to effectively manage rodent populations, resulting in heightened demand for rodent-resistant products worldwide. With the increasing population and growing concerns about food security, the demand for rodenticides is expected to continue its upward trajectory, creating lucrative opportunities for key market players in the rodenticides market.
North America holds the largest market share in the rodenticides market and is projected to witness a robust compound annual growth rate (CAGR) of 6.13% during the forecast period. The region has witnessed the availability of rodenticide bait stations, containing block or paste form rodenticide bait, in the consumer market, further driving the rodenticides market growth.
Prominent players operating in the rodenticides market include BASF, Bayer AG, Impex Europe, Liphatech Inc, Syngenta AG, Rentokil Initial PLC, Neogen Corporation, Bell Laboratories, Inc, Ecolab Inc, Rollis Inc, and others. These key players are expected to leverage their expertise and innovative product offerings to meet the growing market demand. Financial statements, product benchmarking, and SWOT analysis are crucial factors shaping their strategies for sustainable growth.
As the global rodenticides market continues to expand, it is essential for industry stakeholders to closely monitor market developments, regulatory changes, and technological advancements. In doing so, they can capitalize on emerging opportunities, drive product innovation, and contribute to the overall well-being of societies worldwide.
Based on the research, Verified Market Research® has segmented the global Rodenticides Market into Product, Application, End-User, And Geography.
- Rodenticides Market, by Product
- Rodenticides Market, by Application
- Powder & Spray
- Rodenticides Market, by End User
- Pest Control Companies
- Urban Center
- Rodenticides Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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