Insect Pest Control Market 2023, Current Insights, Regional Developments, Demand and Forecast to 2030
The Insect Pest Control Market Size was valued at USD 17.65 Billion in 2022. The Insect Pest Control market industry is projected to grow from USD 19.1 Billion in 2023 to USD 29.43 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2023–2030). The changing climatic conditions and rapid increase in the population of pests across the globe are urging broad utilization of these by pests, coupled with augmenting cases of deadly human infection caused by certain pests is projected to propel the pest control market growth during the forecast period. Furthermore, the expansion of the integrated pest management industry, the launch of new integrated pest management (IPM) programs, and increasing government support for IPM are expected to positively influence this market.
Many common insects found in urban areas are carriers of disease or have venomous bites that could have adverse reactions. In industrial settings, particularly in the manufacturing sector, insect pest control is required to ensure the quality of the products and reducing the chances of contamination. This is particularly important in the food & beverage industry. In agriculture, certain insects are very harmful to crop as they can damage them and reduce overall yield. Due to these factors, insect pest control witnesses consistent demand. The growing construction activities around the globe, particularly emerging economies due to the expansion of urbanization is expected to result in an increased demand for insect pest control. Moreover, climate change has created conditions conducive to the growth pest population.
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Insecticide and pesticides need to evolve consistently as insects can sometimes build immunity. Moreover, adverse health effects due to some pesticides challenge the growth of the market. To mitigate this, market players are increasingly investing in the production of biologically safe products.
Market Segmentation
MRFR’s segmentation of the global insect pest control market has been performed on the basis of control method, insect type, application, and region. Based on control method, the global insect pest control Market Assessment has been segmented into chemical, physical, biological, and others.
Insect types have been segmented to include cockroaches, mosquitos, termites, bedbugs, ants, flies, and others. Applications of insect pest control include residential, industrial, agriculture, and others.
Key regions that have been included in the global insect pest control market review include the Middle East & Africa, Latin America, Asia Pacific, Europe, and North America.
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Regional Analysis
Asia Pacific is a rapidly growing market with the highest CAGR during the forecast period. The region has several emerging economies which happen to have tropical climates or temperate climates which are highly conducive to the growth of pests. A large chunk of these countries, such as India, and China have a huge agriculture sector. This in tandem with the natural climate in the APAC is expected to drive the consistent demand for insect pest control. The increasing awareness regarding modern pest control practices and products are also expected to open up ample opportunities in the APAC region. The increasing demand for food and growing food production in emerging economies of the APAC will propel the regional market in the coming years. North America has been identified as the largest market in the region due to the presence of leading market players that have developed new and effective pest control products, as well as regulations regarding pest control.
Key Players
Distinguishable market players that MRFR has identified for their competitive role in the global insect pest control include Ecolab, ADAMA Agricultural Solutions Ltd., PelGar International Ltd., Rentokil Initial plc, SenesTech, Inc, Bayer, BASF SE, Curtis Gilmour, Syngenta, Sumitomo Chemical Co., Ltd., Rollins, Inc., and FMC Corporation.
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