Pest control products and services are majorly used to prevent rodents, termites, mosquitoes, and other household pests from damaging properties and spreading diseases. Various products such as pesticides, pest traps, repellents, and sprays are used to control a wide range of household and commercial pests. The expanding commercial real estate sector such as hospitality, manufacturing, healthcare, and retail has increased the demand for professional pest control services and products.
The Global Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing commercial real estate sector has been a major driver of the pest control products and services market in recent years. There has been a rapid expansion of the retail, healthcare, hospitality and manufacturing industries in key developing regions which has increased the need for effective pest management in commercial properties. As commercial facilities cater to large numbers of people, it is imperative to implement preventive pest control measures regularly to ensure safety, hygiene and convenience. The proliferation of food outlets, restaurants, malls and warehouses has necessitated professional pest inspection and treatment services. This trend is expected to continue during the forecast period with greater outsourcing of pest management to specialized firms in the commercial sector.
Segment Analysis
The Global Pest Control Products and Services Market is dominated by the residential segment. Changing lifestyle patterns have increased urbanization, leading to a rise in residential properties across major cities. With small spaces and high density living, pest problems occur more frequently in residential spaces compared to large commercial buildings. As people are more concerned about health, safety and comfort at homes, the demand for residential pest control services is growing steadily.
Key Takeaways
Global Pest Control Products And Services Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The Global Pest Control Products and Services Market is estimated to be valued at US$ 23.78 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region currently dominates the Global Pest Control Products and Services Market and is anticipated to continue its dominance during the forecast period. Rapid economic expansion, growing population coupled with urbanization in developing nations such as India and China is driving the demand for pest control products and services in the region. Moreover, increasing awareness about health issues caused by pests and evolution of more sophisticated pests requiring specialized control measures are some of the factors contributing to the growth of the Asia Pacific pest control products and services market.
Key players
Key players operating in the pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Ecolab Inc. is one of the leading players in the market, known for its wide range of products and global presence across major economies.
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