The global pest control market size is anticipated to witness substantial growth on account of the increasing rodent population and reach USD 31.94 billion by 2027. The change in climatic conditions and the rapidly growing population of rodents worldwide have increased the demand for pest control worldwide. As per a recently published report by Fortune Business Insights titled, “Pest Control Market Size, Share & Industry Analysis, By Pest Type (Insects, Termites, Rodents, Others), Method (Chemical, Mechanical, and Biological), Application (Residential, Commercial, and Industrial), and Regional Forecast, 2020 – 2027,” the market value was USD 19.73 billion in 2019 and is anticipated to rise at a CAGR of 6.31% during the forecast period, 2020 to 2027.
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Insects Segment to Dominate Market with its Proliferating Population
Based on the pest type, the insect segment dominated the market in 2019 with a 49.30% pest control market share. This is attributed to the rapidly multiplying insect population in both agricultural and non-agricultural areas.
North America Emerged Dominant Owing to Presence of Major Players
The increased awareness about the ill effects of pest attacks on health and hygiene is a major factor boosting the North American market, thereby making it the largest contributor. In 2019, this region gathered a revenue of USD 9.59 billion on account of the increasing number of commercial and residential infrastructural development activities. This coupled with the presence of a majority of pest management market manufacturers will help this region continue dominating in the near future.