Residential Pest Control Products Market Projected Expansion to $11.5 billion Market Value by 2031 with a 5.8% CAGR
Residential Pest Control Products Industry Analysis
By application techniques, the dusters segment is anticipated to witness the highest CAGR of 6.5%, during the forecast period.
WILMINGTON, DELAWARE, UNITED STATES, April 12, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Residential Pest Control Products Market," The residential Residential Pest Control Products Market Size was valued at $6.6 billion in 2021, and is estimated to reach $11.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
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Residential pest control products are popularly used to control the population of pests like insects, rodents, weeds, wasps, ants, and others that may spread parasitic and infectious diseases. The residential pest control products can kill various flies, such as houseflies, mosquitoes, black fly, and horse-flies and other harmful pests in the residential settings. The rising prevalence of infectious diseases across the globe is expected to boost the demand for the fly traps during the forecast period. According to the World Health Organization, around 17% of the infectious diseases are caused by the flies and it results in over 700,000 deaths each year across the globe. Furthermore, the prevalence of cholera, dysentery, typhoid, and leprosy is increasing in underdeveloped and developing economies owing to lack of awareness regarding the hygiene and cleanliness, poor standards of living, and low disposable income of consumers. The low product penetration in the developing and underdeveloped economies is presenting a challenge as well as a huge growth opportunity to the manufacturers of residential pest control products.
Implementation of stringent government regulations in the developed regions, such as North America and Europe, toward conservation of environment and favorable government initiatives to promote the use of bio-based pesticides is expected to drive the growth of the global residential pest control products market. In addition, constant changes in climatic conditions is a prominent factor for growth of pests, as pests survive at elevated temperature. However, toxicity and health-related issues due to chemicals present in pesticides are a significant factor restraining the growth of the market. On the contrary, ongoing R&D activities to increase the dependency on bio-based pesticides are expected to offer lucrative Residential Pest Control Products Market Opportunities.
The residential pest control products market is segmented on the basis of type, application techniques, pest type, distribution channel, and region. Depending on type, the market is categorized into chemical control, physical pest control, and organic pest control. The chemical control segment is further bifurcated into pesticides, rodenticides, poison baits, and others. The physical pest control segment is divided into traps and bait stations, glue boards, noicemakers, bug zappers, and others.
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On the basis of application techniques, Residential Pest Control Products Industry is classified into sprayers, dusters, space treating equipment, and others. Further, the sprayers segment is categorized into compressed air sprayers and small hand sprayers. Dusters is segmented into hand shakers, foot pump, and hand crank dusters. Space treating equipment is segregated into aerosols, fogs, mists, and others.
By pest type, the Residential Pest Control Products Industry is segregated into insects, nematodes, weeds, rodents, and others. Furthermore, the insects segment is categorized into chewing insect, piercing insect, and others.
By distribution channel is bifurcated into supermarket/hypermarket, independent retail stores, e-commerce, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
As per the residential pest control products market forecast, based on the type, the chemical control segment dominated the market with 62.2% of the residential pest control products market share in 2021, and is expected to retain its dominance during the forecast period. The increased efficiency and effectiveness of the chemical pesticides and insecticides in killing the pests has led to the dominance of this segment in the Residential Pest Control Products Market Analysis
Based on the residential pest control products market trends, by application techniques, the sprayers segment dominated the market in 2021. The higher efficiency is a prominent factor that sprayers are chosen for use in residential applications by a huge number of residential users. The easy availability and easy to use features of the sprayers has boosted the Residential Pest Control Products Market Growth across the globe.
By pest type, the insects segment garnered a market share of 46.7% in 2021. The presence of huge insect population as pests in residential settings across the globe has led to the dominance of this segment in the market. According to research by Terry Erwin of the Smithsonian Institution's Department of Entomology in the forest canopy of Latin America, the number of living insect species is estimated to be 30 million.
Depending on the distribution channel, the e-commerce segment is the expected to be the fastest-growing segment in the market. The rising adoption of the digital channels for buying pest control products, rising adoption of e-commerce platforms, growing adoption of smartphones, and increasing penetration of internet across the globe boost the growth of the e-commerce segment. According to the International Telecommunication Union (ITU), around 4.9 billion people were using internet across the globe in 2021.
Region-wise, North America dominated the global residential pest control products market, garnering a market share of 34.3% in 2021. The increased awareness regarding the diseases spread by pests, increased product penetration in the U.S., rising healthcare costs, growing prevalence of infectious diseases, and rising residential applications are the major factors that led to the dominance of the U.S. and eventually, North America in the global residential pest control products market.
Some of the major players analyzed in this report are BASF SE, Bell Laboratories, Brandenburg, Cortve Agriscience, EcoClear Products, EPest Supply, Monterey, Nixalite, Pelgar International, Pest Mangement Supply, Rentokil Initial Plc, Sumitomo Chemical India Ltd, Syngenta AG, and Woodstream Corporation.
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Key findings of the study
The U.S. accounted for the largest market share in 2021, and is expected to reach a market value of $2,271.0 million by 2031, registering a CAGR of 3.4%, from 2022 to 2031.
By type, the chemical control segment held the largest market share of 62.2% in 2031, and is estimated to reach a value of $6,720.6 million by 2031.
By application techniques, the dusters segment is anticipated to witness the highest CAGR of 6.5%, during the forecast period.
By pest type, the insects segment held the largest market share in 2021, and is expected to grow at a CAGR of 4.9%, during the forecast period.
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