The global Rodenticides market is forecast to reach USD 6.11 Billion by 2027, according to a new report by Reports and Data. The market is gearing a surge with urbanization and industrialization, which has created a demand for pest control, owing to an increase in the population of commensal rodents. The flourishing agricultural sector in emerging nations has led to the high consumption of various pesticides to gain high productivity. This factor is anticipated to fuel the market growth.
The migration of people from the rural areas to urban centers due to urbanization, and also reduction of arable land is augmenting the increase in rodent population for urban areas. This settlement is resulting in the displacement of rats from their places to housing areas. This has created the need for using rodenticides to abolish such rodents. Moreover, the increasing awareness among people and the consciousness towards hygiene and health also triggered the use of rodenticides. Survival of rodents in a warmer climate due to an increase in temperature and global warming has led to a surge in the rodent population, which, in turn, accumulates growth for Rodenticides.
Key participants include BASF SE, Bayer AG, Syngenta International AG, SenesTech, Inc., IMPEX EUROPA S. L., Neogen Corp., Liphatech, Inc., UPL Ltd., Pelghar International, Reckitt Benckiser Group PLC, JT Eaton, Bell Labs Inc., and Rentokil Initial, PLC, among others.
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The Government initiatives for satisfying food needs are improving the Agricultural Sector. This is signifying the high utilization of the rodenticides. The Agricultural sector is thriving with new advancements, thus creating demand for natural rodenticides. Nonetheless, stringent regulations and policies imposed by the government in the production of rodenticides may restrict the growth of the rodenticides market.
North America is dominating the market with a rising number of rodent attacks and thus, attributing to the demand for rodenticides in the forecast period. Government initiatives for high-quality foods and the growing need for bio-rodenticides in the U.S. accounted for the largest market share. The Asia Pacific region is forecasted to grow with the highest growth rate owing to the increase in population and a rapidly growing Agricultural sector in India and China.
For the purpose of this report, Reports and Data have segmented into the global Rodenticides market on the basis of type, mode of application, end-user, and region:
Type Outlook (Revenue, USD Billion; 2020-2027)
- First-generation Anticoagulants
- Second-generation Anticoagulants
Mode of Application Outlook (Revenue, USD Billion; 2020-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Agricultural Fields
- Urban Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Key Insights offered in the report:
- Business overview, product overview, significant market data, demand and supply ratio and overall industry chain analysis
- The report encompasses different approaches and strategic business decisions undertaken by the key players of the market to gain a robust a footing
- It describes in detail the production value, marketing strategies, distributors, and factors influencing the growth of the market
- Strategic business expansion plans and alliances of the key players
- Comprehensive analysis of the present trends and emerging trends of the market
- Analysis and identification of the factors influencing the Rodenticides market such as drivers, restraints, opportunities, and trends
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