The rodenticides market is estimated to be valued at USD 4.9 billion in 2020 and is projected to reach USD 6.6 billion by 2026, recording a CAGR of 5.0% during the forecast period. The growth of the rodenticides market is driven by factors such as the increase in vector based, disease outbreaks and increasing damage by rodent attacks.
The key manufacturers in the rodenticides market include BASF SE (Germany), Bayer AG (Germany), and UPL (India), while Rentokil Initial plc (UK), Ecolab Inc (US), and Rollins Inc (US) are some of the key service providers across the globe. New product launches, acquisitions, and agreements & joint ventures were some of the core strengths of the leading players in the rodenticides market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
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BASF SE is a leading company that produces a wide range of chemical products. It operates through five segments, namely, chemicals, agricultural solutions, performance products, functional materials and solutions, and others. The agricultural solutions segment includes crop protection products, such as insecticides, herbicides, fungicides, and plant growth regulators. BASF uses innovative active ingredients and technologies in a wide range of pest control products to eradicate pests such as bed bugs, termites, ants, flies, and rats. It offers innovative formulations of insecticides and rodenticides that are comparatively effective.
Rentokil Initial plc provides business support services through its operation segments—pest control, hygiene, and protect and enhance. The pest control business provides services and products under the Rentokil Pest Control brand name. Rentokil has operations in 75 countries across North America, Europe, the UK, and Asia Pacific. The company has a range of services in plants, property care, medical, and specialist hygiene. Rentokil also provides a range of pest control services, which include rodents, flying and crawling insects, and other forms of wildlife management solutions.
Ecolab Inc. is a global leader that offers services and products under its water, hygiene, and energy technologies segment. The company caters to nearly three million customers across the globe. It also focuses on offering rodent control services with its Ecolab’s prevention and elimination program for rodents. The company has its own patented rodent station technology, which is used to control rodents at the site.
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The market for rodenticides is projected to grow at the highest CAGR in the Asia Pacific region owing to the increase in awareness of the effectivity of chemical rodenticides. As the world’s largest and most populous region, Asia Pacific is one of the key markets for rodenticides. Rodents are common pests present in agricultural fields. Annually, extensive volumes of agricultural produce are destroyed and contaminated by rodents. To meet the increase in demand for food products and to reduce the crop damages caused by rodents, the use of rodenticides has increased significantly in the region. Food retail, food manufacturing, pharmaceutical, hospitality, and residential sectors are projected to be major growth verticals in this market.
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