Oct 9, 2018   SOURCE: BusinessWire

Insect Pest Control - Worldwide Market Outlook to 2023: A $17.6 Billion Opportunity - ResearchAndMarkets.com

The global insect pest control market is projected to grow significantly from USD 13.1 billion in 2017 to USD 17.6 billion by 2023, growing at a CAGR of 5.05%.

Commercial & industrial segment dominated the insect pest control market

The profound need for professional pest control solutions has been significant among customers in this sector, especially for the food manufacturing and hospitality sectors in urban areas, to maintain a hygienic environment for the control of cockroaches, bedbugs, flies, and mosquitoes.

Biological control is projected be the fastest-growing control method during the forecast period

The declining demand for chemical products, in terms of effectiveness towards pests, has slowly shifted the focus on microbial products such as Bacillus thuringiensis and microbial extracts, which have been proved to be effective on insect vectors without much development of insecticide resistance.

Market Dynamics

Drivers

  • Growing Concerns About Vector-Based Disease Outbreaks Leading to Public Health Initiatives
  • Growth in Purchasing Power Parity (PPP)
  • Effect of Climate Change on Insect Proliferation
  • High Efficiency, Ease of Application, and Availability of Insecticides

Restraints

  • Lengthy Approval Procedure and Absence of Uniform Guidelines for Testing
  • Operating Constraints

Opportunities

  • Usage of Biological Insecticides (Biocides) Gaining Popularity
  • Increase in Demand for Pest Control Services From Hospitality and Tourism Sectors
  • Rapid Urbanization

Challenges

  • Development of Insecticide Resistance Reduces the Effectiveness of Many Chemical Compounds

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Insect Pest Control Market, By Insect Type

7 Insect Pest Control Market, By Control Method

8 Insect Pest Control Market, By Application

9 Insect Pest Control Market, By Region

10 Competitive Landscape

11 Companies Profiled

11.1 Solution Manufacturers
  • BASF SE
  • Bayer AG
  • FMC Corporation
  • Syngenta
  • Sumitomo Chemical Co. Ltd.
  • Adama

11.2 Service Providers

  • Rentokil Initial PLC
  • Ecolab
  • Rollins Inc.
  • The Terminix International Company L.P.
  • Arrow Exterminators
  • Ensystex

For more information about this report visit https://www.researchandmarkets.com/research/qrz5c3/insect_pest?w=4