The Rodent Control Market Projected to Grow at a CAGR of 4.9% and Generate a Revenue of $4,659.7 Million by 2028Download Sample Reports Overview
The global rodent control market is predicted to be valued at $4,659.7 million by 2028, surging from $3,209.8 million in 2020, at a noteworthy CAGR of 4.9%.
COVID-19 Impact on Rodent Control Market
The outbreak of COVID-19 has disrupted the functioning of several businesses majorly owing to financial crisis and supply chain disruptions. However, pest control market which includes rodent control was deemed as an essential business owing to which the demand for rodent control products and services was stable. This has led to positive impact on the organic growth of rodent control market. Also, various hygiene and sanitation measures were implemented during the COVID-19 pandemic to contain the spread of coronavirus. Nowadays people have become health consciousness and getting rid of pests such as rodents including rats and mice has become priority. In addition, various businesses such as hotels, restaurants, commercial, and industrial places were shut during the pandemic owing to which rodents have become a major issue. As these rodents infest your food, property, and cause damage to your buildings, demand for pest control services was high during the pandemic. These aspects have led to positive impact on rodent control market size during the COVID-19 pandemic.
Moreover, Rollins, the leading pest management company offered an unwavering commitment to ensure the health and safety of its employees and customers. The stringent safety protocols were given priority at workplace to protect the health of their employees. The company introduced a paid time-off (PTO) program for all full time as well as part-time employees. Under this program, the employees are eligible for paid-time off for emergency leave during the COVID-19 pandemic. This leave can be utilized by the company employees for their own personal care or for their immediate family members who have been tested positive for COVID-19 virus.
Global Rodent Control Market Analysis
Rodent control market is driven by various macro growth factors such as growing population, urbanization, climate change, growing pest intolerance, and rise of middle class. For instance, as stated in May 2018, by Rentokil, the leading pest control company, the world population is estimated to reach 8.6 billion by 2030. Such vast population growth coupled with rapid urbanization which states that 70% of world population will live in cities by 2050 is a major growth driver for rodent control market. This is because pests are more prevalent in overpopulated cities and rise of pests such as rodents is leading to increase in demand for non-toxic rodent control solutions. Rising middle class population with increase in disposable income has led to low pest tolerance especially in developed and developing economies.
However, the harmful effects associated with the use of pest control products including rodent control such as rodenticides and stringent regulations regarding its use are predicted to restrain the market growth. For instance, some rodenticides are harmful and even low-level of exposure to them can lead to diseases such as Parkinson’s disease, cancer, reproductive harms, and others.
Advancements in technology for optimum and efficient rodent control to boost the market opportunities. For instance, Catchmaster, the popular pest control management service provider company, provides Catch Zone which measures 60 feet x 12 inches. This Catch Zone can be used across food production facilities, supermarkets, and warehouses. Catch Zone has 300% more glue that offers extra holding power. Additionally, it has heavier paper that lays flat on the surface that can effectively help you in getting rid of rodents. Also, Burrtec Waste Industries, Inc., the U.S.-based solid waste company, offers Burrat Samurai which is stainless door sweep for pest control, which prevents the intrusion of pests including rodents.
Global Rodent Control Market, Segmentation
The global rodent control market is segmented based on type, technique, end-user, and region.
The type segment is further classified into products and services. Among these, the products sub-segment is anticipated to have a dominant market share and shall surpass $2,796.8 million by 2028, with an increase from $1,878.6 million in 2020. Various rodent control products such as rodenticides, screens, traps, fences, nets, barriers, electricity, and radiation are widely used for controlling the rodents. Controlling the rodents with the use of various rodent control products is necessary as they are prime carriers of hazardous pests such as mites, ticks, and fleas that can have toxic effect on human health. Rodents cause severe property damage as rats and mice can gnaw on doors and bite the wires that can lead to unexpected fires. Also, rodents breed constantly throughout the year and two rats can produce hundreds of babies in their lifetime. Thus, products sub-segment of rodent control market has gained huge popularity.
The technique segment is further classified into chemical, mechanical, biological, and others. Among these, the chemical sub-segment is anticipated to have a dominant market share and shall surpass $1,900.1 million by 2028, with an increase from $1,237.9 million in 2020. The use of chemicals for rodent control is growing rapidly as the chemicals destroy pests, control their activities, and prevent them from causing damage. They help in getting rid of rodents faster as chemicals are highly effective so that the clients can get rid of pests quickly with less bait. Also, these chemicals used for rodent control offer ease of use and placement. Some rodenticides have unique palatable bait formula, and each bait block encourages the rodents to come back and keep chewing with appealing ingredients such as oats. This helps in bringing infestation under control soon.
The end-user segment is further classified into residential, commercial, industrial, and agriculture. Among these, the residential sub-segment is anticipated to have a dominant market share and shall surpass $1,701.5 million by 2028, with an increase from $1,097.3 million in 2020. The popularity of rodent control across residential sector is increasing rapidly as these rodents can contaminate food sources, kitchen surfaces, and other places. It is necessary to control the rodent infestation at first place as the rodent urine and feces contain harmful disease-causing microorganisms that can put your health at risk. Also, rodents cause property damage & destruction. Thus, homeowners must swiftly handle the rat and mouse infestation at first place.
The rodent control market in the Asia-Pacific region is projected to witness rapid growth. This region’s market generated a revenue of $741.5 million in 2020 and is projected to reach up to $1,123.9 million by 2028. Asia-pacific rodent control market growth is majorly attributed to rise in residential construction activities and development of smart cities and commercial & industrial infrastructures. For instance, the demand for housing and residential construction in India is growing rapidly owing to population growth and strong government support at national level. For instance, the Indian government has allocated significant funding for housing under 2021 Budget. For instance, the Pradhan Mantri Awas Yojana (PMAY) programme, launched in June 2015, aims to offer affordable housing to all urban poor via financial support. Also, India is estimated to be the world’s third largest construction market by end of 2022. Such growing construction activities have led to increased demand for rodent control practices to keep your place safe and secure.
Key Players in the Global Rodent Control Market
Some of the leading rodent control market players are
- BASF SE
- Bayer AG
- Rentokil Initial Plc
- Ecolab Inc.
- Neogen Corporation
- PelGar International
- Rollins Inc.
- SenesTech Inc.
- Syngenta AG.
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Rodent Control Market:
- Bargaining Power of Suppliers: The companies in rodent control market are dependent on suppliers for purchase of raw materials such as catalysts and solvents required for manufacturing rodent control products. However, the presence of large number of raw material suppliers and low switching costs reduce the bargaining power of suppliers.
Thus, the bargaining power of suppliers is moderate.
- Bargaining Power of Buyers: In this market, the bargaining power of buyers is high as the demand for rodent control products and services is growing rapidly from residential, agriculture, commercial, and industrial sector.
Thus, buyer’s bargaining power will be high.
- Threat of New Entrants: The threat of new entrants is moderate as the new players entering this market are focusing on new value propositions and reducing the product price.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: At present, there is no alternative to rodent control products and services apart from killing them manually. However, manual killing of rodents is practiced at a very low rate across the world.
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The rodent control market players are focusing on enhancing business expansion, product launch, and reducing the product price due to intense competition.
Therefore, competitive rivalry in the market is high.