PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1555057
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1555057
Global rodenticides market is projected to witness a CAGR of 5.56% during the forecast period 2024-2031, growing from USD 6.01 billion in 2023 to USD 9.27 billion in 2031. This market is an essential subsection of a wider pesticide industry since there is an ever-growing need for effective ways of controlling rodent populations that are dangerous to human health and cause substantial economic losses. Urbanization has played a significant role in shaping the dynamics of the market as it increases agricultural activities, leading to increased demand for pest control measures. Moreover, the demand for this market is further fueled by heightened awareness regarding health hazards associated with these animals such as hantavirus and leptospirosis.
The market features prominent players dedicated to innovating products that work well and preserve the environment concerning the increased regulation of the use of toxic materials. The primary division of the market consists of anticoagulants and non-anticoagulants, out of which anticoagulant agents are mainly recommended as they are proven to be more efficient than others.
Due to strict laws and greater awareness, North America and Europe have a more significant share of the market. On the contrary, urbanization, population growth, and increased agricultural activities are some of the factors contributing to the fastest growth and dominance of Asia-Pacific economies.
Market growth can be affected by various challenges, such as regulatory restrictions, environmental concerns, and the development of rodent resistance to certain rodenticides. However, continuous research and development alongside the launch of safe and efficient products are expected to yield fresh market prospects.
In October 2023, SenesTech, Inc. launched Evolve Soft Bait, which reduces the fertility of rats. Intended for both professionals and consumers alike, Evolve Soft Bait has an appealing taste to rats. It is simple to apply and can be placed in a variety of areas such as cities, parks, sports grounds, food production centers, prisons, underground railways, hospitals, agri-businesses, nature reserves, and homes.
Public Health Concerns Spur the Adoption of Rodenticides
Public health issues form a significant pull factor for the rodenticide industry since rodents are well-known vectors of numerous illnesses that endanger human existence. Rodents, especially rats and mice, act as vectors for several diseases, including leptospirosis, hantavirus, salmonella, and plague, which can be fatal. As per the U.S. Centers for Disease Control and Prevention, since the beginning of surveillance in 1993, 850 cases of hantavirus disease have been reported in the United States as of the end of 2021.
With the rising awareness, these health risks are becoming a public affair, and hence, private and public sectors are increasing their input for controlling rodents, leading to a high demand for rodenticides. Urban areas are at a higher risk of rodent-borne diseases as they have a very high human population living closely together, thereby facilitating the transmission of germs.
The significance of controlling rodents in the future in disease outbreaks is steadily gaining importance to governments and health organizations, thus pushing more people into using rodenticides as a significant measure of keeping public health safe.
Agricultural Expansion Fuels Market Growth
Horticultural development is among the main factors propelling the growth of rodenticides, with enhanced agricultural pursuits causing an increased need for efficient procedures that deal with rodents. As far as agriculture is concerned, rodents are a considerable danger that can lead to huge losses on farms, farm product storage, and the structure of a farm. Generally, they are known to eat away vast amounts of food and pollute it in large quantities, thus causing enormous economic damage to farmers and the agriculture industry.
As agricultural land expands to meet the growing demand for food, especially in developing regions, the incidence of rodent infestations rises. In this light, there is a need for reliable rodenticides to protect crops, hence ensuring global food security. Rodenticides are often employed to control rodent populations, especially in crops and storage facilities, which would otherwise lead to crop loss and crop contamination.
Furthermore, the intensification of agriculture through monocultures and extensive agriculture creates optimal situations for the reproduction of rats. This leads to a rising necessity for safe rodenticides that can be utilized within the agricultural area, stimulating crop productivity and making sure it is profitable. For instance, in March 2024, Bell Laboratories, Inc. launched CADET All-Weather BLOX to remove rodent invasions. BLOX has a weight of 20g and contains Cholecalciferol or Vitamin D3 and is effective against rats and mice that resist anticoagulants. This novel-D3 formulation is robust, rainproof, and mildew-resistant making it suitable for indoor and outdoor applications.
Commercial Usage Holds Large Market Share
Almost all industries, such as food processing, hospitality, retailing, warehousing, and others, use rodenticides for commercial purposes. The involvement of rodents in these fields might lead to contamination of products, destruction of infrastructure, and violation of health conduct, resulting in poor financial performance of businesses and loss of reputation.
There are stringent hygiene regulations for businesses, mainly in the food and hospitality sectors. The risk of rodents spreading diseases or contaminating products makes rodent control a top priority. As a result, these sectors heavily invest in rodenticides to ensure compliance with health regulations and protect their operations from the detrimental effects of rodent infestations.