Dec 20, 2021   SOURCE: BusinessWire

Insect Pest Control Markets: Termites, Cockroaches, Bedbugs, Mosquitoes, Flies, & Ants, Chemical, Biological, & Physical - Global Forecast to 2026 - ResearchAndMarkets.com

The "Insect Pest Control Market by Insect Type (Termites, Cockroaches, Bedbugs, Mosquitoes, Flies, & Ants), Control Method (Chemical, Biological, & Physical), Application, Form (Dry and Liquid), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global insect pest control market size is estimated to be valued at USD 12.3 billion in 2021 and projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1%

The global insect pest control market is witnessing a growth trend due to factors such as developing economies, easy availability of insect pest control service providers, growth in concern about public health due to insect attacks, and climate change.

By insect type, termites are projected to dominate the market during the forecast period.

Termites are a major pest across the world and cause high economic losses in public places, households, and industrial sectors. Termiticides are widely used, as they are required in lower quantities and directly target the lifecycle of termites to provide effective results.

New termiticide technologies, using non-repellent techniques, control both termites that come in direct and indirect contact, through feeding and grooming as well. Approved treatments by the EPA include liquid soil-applied termiticides, termite baits, building materials impregnated with termiticides, and wood treatment.

By application, residential segment is projected to dominate the market during the forecast period.

The residential sector is set to exhibit a strong potential for pest control companies as this segment has not yet been capitalized on by many service providers. The increasing population density, climate change, and growing economic activities can lead to the lack of resources and amenities to avert or reduce pollution risks.

In addition, improper sanitary and inefficient public health hygiene implementation processes can eventually lead to the development of health risks near residential areas.

The Asia Pacific region is projected to record the highest growth rate during the forecast period.

Termites and mosquitoes are among the many pests in the Asia Pacific region and are expected to fuel the demand for insect pest control products and services in the next six years. Food retail chains, food manufacturing companies, pharmaceuticals, and the hospitality and residential sectors are projected to be major growth verticals in this market.

Countries such as India and China have incorporated regulations in the construction industry, requiring pre-construction and post-construction termite control.

The insect pest control market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America, and the Rest of the World including Africa and the Middle East.

BASF (Germany), Bayer (Germany), FMC Corporation (US), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), Rentokil Initial Group (UK), Ecolab (US), Rollins, Inc. (US), Terminix (US), and Adama (Israel).

Premium Insights

  • Insect Pest Control Market is Driven by Rapid Urbanization and Need to Reduce Disease Outbreaks
  • The US is Estimated to Account for a Significant Market Share in North America in 2021
  • Chemical Control Methods Dominated the Market in 2020
  • The Termite Segment to Dominate the Insect Pest Control Market During the Forecast Period
  • Liquid Form to Dominate the Insect Pest Control During the Forecast Period
  • US is Estimated to Dominate the Market in 2021

Market Dynamics

Drivers

  • Impact of Climate Change on Insect Proliferation
  • Increase in Instances of Insect-Borne Disease Outbreaks to Encourage Public Health Initiatives
  • Ease of Application, Availability, and High Efficiency of Insect Pest Control Products

Restraints

  • Interminable Time for Regulatory Approval of Products
  • Risks Associated with Storage of Insect Pest Control Products

Opportunities

  • Adoption of IoT and Ai-Based Technologies in Insect Pest Control
  • Emergence of Biological Insect Pest Control Solutions

Challenges

  • Inadequate Technological Expertise in Ai-Based Insect Pest Control Solutions
  • Development of Resistance Among Insects Against Chemical Compounds

Companies Mentioned

  • 1env Solutions Ltd.
  • Adama
  • Basf
  • Bayer
  • Biofeed
  • Chemron
  • Ecolab
  • Fmc Corporation
  • Greenzone
  • Knock-Down Pest Control
  • Mills Pest Management
  • Pacicorp Organics Private Limited
  • Pathogen & Environmental Solutions (Pes)
  • Pest Pulse
  • Rentokil Initial Group
  • Rollins, Inc.
  • Sumitomo Chemical Co. Ltd.
  • Syngenta
  • Terminix
  • United Pest Control

For more information about this report visit https://www.researchandmarkets.com/r/mirfvb