Increasing Economic Activities Make the Insect Pest Control Market Flourish

Eradication of pests or the hindrance of their migration, reproduction, and development is known as pest control. The world economy is significantly impacted by the control of pests. Even with the present pest control initiative, agricultural pests are accountable for the yearly destruction of millions of acres of crops globally. Over 500 million dollars are wasted yearly on insect and rodent infestation of stored grains and food in the US.

The growing familiarity with vector-borne diseases that are life-threatening, like dengue, malaria, and yellow fever, is giving prominence to concern in society; as per the assessment of the World Health Organization (WHO), over 17% of all prevalent contagious diseases are vector-borne and are accountable for more than 7,00,000 deaths yearly. The growing proliferation of conditions generated by pests is highlighted by the thorough utilization of pest control services to maintain diseases caused by them at a distance. Growing consciousness about different pest control methods like mechanical, chemical, and biological and their cost-effectiveness is augmenting the market during the forecast period.

According to the research report, the global insect pest control market size & share was valued at USD 12.41 billion in 2021 and is expected to reach USD 18.93 Billion by 2030, to grow at a CAGR of 4.9% during the forecast period.

Biologically based pesticide products or biorational products comprise pheromones or living microorganisms that are more environmentally friendly and are nontoxic. These kinds of biorational pesticides can be an alternative to competitive chemical products where worries about food excess are high in areas that are environmentally sensitive. Pheromone-assisted technique escalates the efficacy of insecticides against ants. When an amalgamation of insecticides and pheromones is used, it can cut off ants from the trails and nests to the insecticides.

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The influence of the covid-19 pandemic on the pest market is anticipated to stay manageable. It may expand substantially in the advancing years because of the growing awareness and application of hygiene.

Recent developments

In May 2021, Anticimex Group, one of the major pest control companies worldwide, declared its accession to Palmera Junior, a family-owned company situated in Columbia with a growth history that is impressive. Anticimex made the foremost strategic accession in Latin America and set an initiation point for an expansion strategy in this speedily growing market.

In March 2021, Bayer AG, a conglomerate in the life science fields of nutrition and health care, declared its introduction of the recent biological and pheromone-based crop protection product Vynyty Citrus. It is the first product in the market which is drawn up with natural pyrethrum and pheromones to regulate pests on the citrus farms.

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Key players

The global market is highly splintered, with more than 40,000 companies prevailing across the globe. These companies are adjusting to essential strategies like mergers and acquisitions and new product and service launches to intensify their market position. The key players are Bayer (Germany), BASF (Germany), Sumitomo Chemical (Japan), Korea Henkel home care Co. Ltd. (Korea), FMC Corporation (US), Syngenta (Switzerland), ADAMA (Israel), Rentokil Initial Group (UK), Terminix (US), Rollins, Inc. (the US)