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The insect pest control market is projected to grow at a CAGR of 5.05%
The global insect pest control market is projected to grow significantly from USD 13.10 billion in 2017 to USD 17.60 billion by 2023, growing at a CAGR of 5.05%. The insect pest control market is driven by government regulations on food hygiene, public health, and environmental health and the growing public awareness; the need to improve service quality for customers is expected to provide an impetus for innovative pest control solutions. Lack of skilled technicians and delayed regulatory approval process for chemical products in different applications such as residential, commercial, and industrial areas have been considered as restraining factors for the market.
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 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 fastestgrowing 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.
North America: The largest market for insect pest control products and services
North America accounted for the largest share in 2016 due to its significant growing demand in both commercial and residential applications. The Asia Pacific is projected to be the fastestgrowing region from 2017 to 2023 due to the stringent need for commercial establishments and industrial sectors such as food processing, food service industries, and tourism sectors to comply with pest control regulations within their premises.
Breakup of Primaries:
By Company Type Tier 1 40%, Tier 2 35%, Tier 3 25%
By Designation C level 26%, Directors 19%, Others 55%
By Region Asia Pacific 36%, Europe 21%, North America 17%, RoW 26%
The market is dominated by key players such as Bayer Germany, Syngenta Switzerland, BASF Germany, FMC Corporation US, Sumitomo Chemical Japan, ADAMA Israel, Rentokil Initial UK, Ecolab US, The Terminix International Company US, Arrow Exterminators US, Ensystex US, and Rollins US.
This study estimates the global insect pest control market, in terms of value, till 2023, segmented on the basis of insect type, application, control method, and region.
It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and the preferred development strategies such as expansions, acquisitions, new product developments, and agreements to gain a larger share of the market.
It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and the key issues of the market.
It covers various important aspects of the market. These include analysis of the competitive landscape, market dynamics, market estimates in terms of value and volume, and future trends in the insect pest control market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysescompetitive landscape mapping and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and highgrowth segments of the insect pest control market; highgrowth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on insect pest control offered by the top players in the market.
Product Development/Innovation: Detailed insights on upcoming technologies, RD activities, and growth strategies in the insect pest control market.
Market Development: Comprehensive information about lucrative emerging marketsthe report analyzes the application markets for insect pest control across various regions.
Market Diversification: Exhaustive information about products, untapped geographies, recent developments, and investments in the insect pest control market.
Competitive Assessment: Indepth assessment of the market share, strategies, products, and manufacturing capabilities of the leading players in the insect pest control market.
Original Article: Insect Pest Control Market by Insect Type Termites, Mosquitoes, Cockroaches, Bedbugs, Ants, Flies, Control Method Chemical, Physical, Biological, Application Commercial Industrial, Residential, Livestock Farms, and Region Global Forecast to 2023 [ReportNEXT ARTICLE
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