Residential Pest Control Products Market Exceed $11.5 Billion by 2031 | Organic pest control Exceed a CAGR of 7.2%
Allied Market Research
PORTLAND, OREGON, UNITED STATES, May 26, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global residential pest control products market garnered $6.6 billion in 2021, and is estimated to generate $11.5 billion by 2031, manifesting a CAGR of 5.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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The global residential pest control products market has witnessed significant growth in the recent years. This is attributed to exponential population growth, increase in urbanization, and changes in climatic conditions. Key players opt for mergers and acquisitions and product launches as their key developmental strategy to strengthen their foothold in the competitive market and build sector expertise.
North America is expected to dominate the global residential pest control products market during the forecast period, due to increase in awareness about health issues related to insects and pests. Implementation of stringent regulations towards hygiene & sanitation and increase in health initiatives are further expected to boost the growth of the global market. The latest innovations in the physical pest control products introduced by the major technology company like Brandenburg and leading pest industry player like Rentokil Initial Plc, is a major factor that is expected to have a strong and positive impact on the growth of the residential pest control products market across the globe.
The research provides detailed segmentation of the global residential pest control products market based on Type, Application Techniques, Pest Type, Distribution Channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the chemical pest control segment held the highest share in 2021, accounting for more than three-fifths of the global residential pest control products market, and is expected to continue its leadership status during the forecast period. However, the organic pest control segment is expected to register the highest CAGR of 7.2% from 2022 to 2031.
Based on application, the sprayers segment accounted for the highest share in 2021, contributing to more than one-third of the global residential pest control products market, and space treating equipment is expected to maintain its lead in terms of revenue during the forecast period. However, the dusters segment is expected to manifest the highest CAGR of 6.5% from 2022 to 2031.
Based on distribution channel, the supermarkets and hypermarkets segment accounted for the highest share in 2021, holding nearly one-third of the global residential pest control products market, and e-commerce is expected to continue its leadership status during the forecast period.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the total residential pest control products market share, and Asia-Pacific is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 8.0% during the forecast period.
Leading market players of the global residential pest control products market analyzed in the research include BASF SE, Bayer AG, ANTICIMEX, EcoClear Products, ECOLAB, FMC CORPORATION, SYNGENTA, NBC ENVIRONMENT, ADAMA Ltd, SUMITOMO CHEMICAL CO. LTD., CORTEVA, Bell Laboratories Inc., RATSENSE, Brandenburg, and PelGar International.
The report provides a detailed analysis of these key players of the global residential pest control products market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Tushar Rajput
Allied Analytics LLP
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