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Insect pest control market size is showcasing market growth with 5.84% CAGR over the forecast period (2019-2025)
The 2019 updated version of OG Analysis research identifies top trends shaping the insect pest control market growth with forecast of $26.2 billion market value by 2025. Reproductive explosion of highly resistant insects, outbursts of epidemic and insect-prone diseases as well as environmental degradation all together creates potential insect pest control market opportunity in the long term.
In addition, dynamic changing socio-economic trends such as growing urbanization along with compact housing units, sudden climate changes and global warming conditions drive the market towards exceptional growth margins.
Spray application is widely used insecticide forms among household insect pest control markets accounting for dominant market share, followed by electric vaporizers during 2018.
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Further, residential segment remains the single largest market with up to half of the insect pest control market share during 2018 driven by the rising middle class population, growing awareness to control pest, temperatures fluctuations and others.
However, regulatory norms focusing on environment protection, less toxic insecticides coupled with increasing resistance of insects to existing control methods are key challenges faced by the industry.
Organophosphorous insecticides dominate the global insect pest control market with around one-fourth of total market size
Growing threat for insect carrier disease is driving the market demand for the global organophosphates and is primarily opted for the mosquito control in public places, residential lawns, horticulture and botanical gardens owing to its properties of rapidity and effectiveness.
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Organophosphorous compounds like Pyrethroids (chrysanthemum) are witnessing growth, augmented with wide adaptation of rotanone, abamectin and ivermectin insecticides as harmless insect repellents all contribute to OP compounds’ market share.
Growing demand for green and eco-friendly alternatives enable the segment to report highest CAGR over the forecast period
Bio-rational materials that are relatively non-toxic and have little negative impact on the environment are an important area of focus in the research. Pheromone traps, insect growth regulators and Second-Generation Green Products are being researched.
Advanced economies such as the US, Europe, Japan and South Korea are increasingly shifting towards biological control measures over rising concerns about chemical insect control techniques.
In addition, regulatory policies such as the ban imposed on neonicotinoid pesticides in Europe are driving companies to research new technologies.
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Termites remain the largest insect problem worldwide and drive the global insect pest control market
Termites control market is profound in North America and Asia-Pacific regions and accordingly, the companies marketing their products in these regions generated significant revenue during 2018.
Termites are prone to cause damage to door frames, kitchen cabinets, staircase and wooden flooring and others and the global market is anticipated to emerge rapidly by 2025.
In addition, termites and bed bugs are among leading insect types that causes damages to the residential sector.
Growing awareness on vector borne diseases is driving the global insect pest control market growth emerging nations
Insect pest control market is largely driven by prevalence of vector –borne diseases like malaria, dengue, yellow fever and swine flu with Mosquitoes as root cause. Mosquito control market is mainly dominant in Asian and African region. Accordingly, Africa contributes 90% of the malaria cases and death followed by South-East Asian region.
Further, improper waste management, open drainage and sanitary system coupled with lack of education on insect-borne contagious diseases largely drives for insect pest control market growth across suburbs and rural areas in Asia-Pacific and Africa region.
Further, United States also stood as a significant source for malaria financing across the globe.
Control against ants and flies is penetrating rapidly in global insect pest control market
Flies are largely destructive and spread various contagious diseases including dysentery, diarrhoea, typhoid, and certain eye & skin infections. In addition, certain species of flies encompassing horn flies, buffalo flies cause huge damage to the livestock.
On the other hand, ants control is dominant in industrial and manufacturing units of electronics and electrical equipment, followed by food processing and retail sectors.
Ongoing innovations and developments across key players is foreseen towards disruptive mobility
Large portion of investments are being devoted to R&D efforts by key insect pest service providers. The intense development is carried to combat harmful and health risking insect pest control. For example, in 2018, Bayer launched its product Aqua K-Othrine, water-based space spray insecticide for mosquitoes with the commitment to safeguard public health from diseases such as Malaria and Dengue.
The ongoing trend widely adopted by key market formulators is integrating two or more pest management approaches to manage pest growth. For instance, in 2018, Terramera launched Innovative plant-based pest control product RANGOthat treats wide variety of insects.
Accordingly, investments are made to promote research for advanced insect management where the formulations using nanomaterials and artificial intelligence are being developed. For instance, VM Products launched EZ Square Rat in 2018, which is a stand-alone Wi-Fi-enabled trap system and gives real-time alerts of rodent activities via smart devices.
Further, market for pest control has been strengthening with emergence of small and medium sized companies catering domestic and local agricultural and urban/industrial sectors.
Key Companies operating in Insect pest control market are BASF SE,Bayer AG,FMC corporation ,Syngenta AG, Sumitomo Chemical Co., Ltd., Adama, Rentokil Initial Plc, Ecolab Terminix International Company, Rollins, Inc., Arysta LifeScience, Nufarm, AgNova Technologies, Dow Agro Sciences, and Anticimex Group.
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