Insect Pest Control Market worth $15.8 billion by 2026

The global insect pest control market size is estimated to be valued at USD 12.3 billion in 2021 and projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1% during the forecast period.

(EMAILWIRE.COM, December 10, 2021 ) The insect pest control market is projected to grow at a CAGR of 5.1% during the forecast period.

According to MarketsandMarkets, the global insect pest control market size is estimated to be valued at USD 12.3 billion in 2021 and projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1% during the forecast period. The global insect pest control market is witnessing a growth trend due to factors such as developing economies, easy availability of insect pest control service providers, growth in concern about public health due to insect attacks, and climate change.

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By insect type, termites are projected to dominate the market during the forecast period.

Termites are a major pest across the world and cause high economic losses in public places, households, and industrial sectors. Termiticides are widely used, as they are required in lower quantities and directly target the lifecycle of termites to provide effective results. New termiticide technologies, using non-repellent techniques, control both termites that come in direct and indirect contact, through feeding and grooming as well. Approved treatments by the EPA include liquid soil-applied termiticides, termite baits, building materials impregnated with termiticides, and wood treatment.

By application, residential segment is projected to dominate the market during the forecast period.

The residential sector is set to exhibit a strong potential for pest control companies as this segment has not yet been capitalized on by many service providers. The increasing population density, climate change, and growing economic activities can lead to the lack of resources and amenities to avert or reduce pollution risks. In addition, improper sanitary and inefficient public health hygiene implementation processes can eventually lead to the development of health risks near residential areas.

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The Asia Pacific region is projected to record the highest growth rate during the forecast period.

Termites and mosquitoes are among the many pests in the Asia Pacific region and are expected to fuel the demand for insect pest control products and services in the next six years. Food retail chains, food manufacturing companies, pharmaceuticals, and the hospitality and residential sectors are projected to be major growth verticals in this market. Countries such as India and China have incorporated regulations in the construction industry, requiring pre-construction and post-construction termite control.

Leading players profiled in this report include the following:

BASF (Germany), Bayer (Germany), FMC Corporation (US), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), Rentokil Initial Group (UK), Ecolab (US), Rollins, Inc. (US), Terminix (US), and Adama (Israel).

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