Valuation of Pest Control Services Market to reach US$ 16 Bn in 2015
The US$ 16 Bn global pest control services market is set to increase at over 5% CAGR in the next decade, according to a new market forecast report by Future Market Insights (FMI). The report, titled, “Pest Control Services Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026”, offers 10-year forecast and analysis on the basis of application, service, end-users, and region.
Rising awareness among consumers on the importance of pest control is anticipated to ramp up demand for pest control and management during the forecast period. Increase in construction activity on account of rapid urbanisation and economic development is also expected to fuel the growth of the market.
Global regulations and legislations on consumer safety are anticipated to boost adoption of pest control management as a standard operational procedure in end-use industries, especially in food and beverage manufacturing. End-use industries are focus on compliance with certification standards set by the British Retail Consortium (BRC) and AIB International, and this is expected to contribute to the growth of the market in the future.
Other key factors anticipated to shape up demand for pest control services include climate change (various pests thrive in warmer climates), rise in international tourism, and easy availability pest control and management solutions.
Technology Making Inroads in Pest Control Landscape
Use of technology is growing in the pest control landscape, with many companies using smartphone apps and mobile communication technology to offer highly effective services to their clients. Concerns about the potential health- and environmental-impact of pest control chemicals is influencing manufacturers to include organic chemicals in their offerings.
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North America and Western Europe Dominant Markets, APEJ to Witness Robust Growth
North America and Western Europe are currently the largest markets for pest control services, collectively accounting for 60% revenue share of the market in 2015. Demand for pest control services in Asia Pacific excluding Japan (APEJ) is expected to witness strong growth during the forecast period. FMI estimates the APEJ pest control services market to increase at a CAGR of 6.5% during the forecast period.
The key application segments on which FMI’s reports offers market forecast and analysis include,
- Ants Control
- Bedbug Control
- Beetle Control
- Bird Control
- Cockroaches Control
- Mosquito & Flies Control
- Rat & Rodent Control
- Termites Control
- Others (Home Lizards, Moths Mites and Reptiles)
Among these, demand for termite control is currently the highest, followed by mosquito and flies control. FMI estimates the termite control segment to increase at 6.3% CAGR through 2026, whereas the mosquito and flies control segment is anticipated to expand at 5.8% CAGR.
On the basis of service, the market has been segmented into,
- Chemical control services
- Mechanical control services
- Other pest control services (moisture control, sanitation, etc.)
Among these, the chemical control services segment is anticipated to witness high growth, increasing at 5.4% CAGR during the forecast period.
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The key end-use segments of the global pest control services market are,
The commercial end-use segment currently accounts for the highest revenue share currently, whereas the agriculture segment is expected to increase at the highest CAGR during the forecast period.
Leading Players Looking to Boost Presence in Emerging Markets
Leading companies profiled in FMI’s report include Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc. and Dodson Brothers Exterminating Company Incorporated. The pest control service market is highly fragmented and larger players are focused towards enhancing their geographical presence and expanding their customer base by entering into strategic mergers and acquisitions with regional players.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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