Top Driving Factors of Rodenticides Market with leading Key Players – BASF SE, Bayer AG, Syngenta, Rentokil Initial PLC
The Rodenticides Market is estimated to be valued at USD 5.3 billion in 2022. It is projected to reach USD 7.1 billion by 2027, recording a CAGR of 5.8% during the forecast period. The rodenticides market is witnessing significant growth due to the rise in economic activities, an increase in residential and commercial construction activities, and the growth in awareness of public and environmental health.
According to the National Pesticide Information Center (US), ‘Rodenticides are pesticides that kill mice and rats.’ Even though rodents play an important role in nature, they are increasingly required to be controlled, as they damage crops, transmit diseases, and in some cases, cause ecological damage. Rodenticides are formulated as baits, which are designed to attract rodents.
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Key players in this market include Basf Se(Germany), Bayer Ag(Germany), Syngenta Ag(Switzerland), UPL Limited(India) & Neogen Corporation(US)
BASF SE is a leading company that produces a wide range of chemical products. It operates via six business segments, namely chemicals, industrial solutions, materials, nutrition & care, surface technologies, and agricultural solutions. BASF’s agricultural solutions segment includes functional crop care, biotechnology, turf, ornamentals and landscape, pest control, and animal nutrition. 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. The company has a global presence in regions, such as Asia Pacific, North America, Europe, South America, Africa, and the Middle East. In Nov 2020, BASF SE (US) launched Selontra rodent bait in Europe. It is a soft bait formulation based on the active ingredient, cholecalciferol, which makes the product three times more effective than the standard anticoagulant rodenticides.
Bayer AG is a global leader in agriculture research and solutions; it operates through four segments—pharmaceuticals, consumer health, crop science, and animal health. It also supplies high-quality food products, feed, and plant-based raw materials, and helps in promoting the sustainable use of natural resources. It also offers herbicides, corn seed & traits, soybean seed & traits, insecticides, fungicides, vegetable seeds, and digital agriculture solutions. Bayer AG’s subsidiary, Bayer CropScience, is involved in the development of crop protection, non-agricultural pest control, and plant biotechnology. The company produces highly palatable and fast-acting rodenticides, which are designed for professional use. These rodenticides are highly effective against all types of rodents. It has a presence in over 120 countries across the globe. The company primarily operates in Europe and has an active presence in North America, Latin America, Africa, the Middle East, and Asia Pacific. In Aug 2019, Bayer entered into a partnership with UrbanClap (India), which would facilitate the pest control products for UrbanClap for effective and safe pest management solutions for consumers in the residential segment.
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The regional rodenticides market of North America is dominated by the US market. In North America, the US reports the highest pest-related cases and also avails the maximum number of pest control services in the region. The population of rodents in the US is the highest, in comparison to Canada and Mexico, and the population is set to increase in the coming years due to the conducive environmental conditions. The favorable climatic conditions are also boosting the expansion of the rodents population in these countries. In addition, the losses incurred from rodents in North America are comparatively higher than in other developing regions. Hence, the consumption of rodenticides is encouraged and remains high in the region. The high growth of the housing industry and a steady increase in the improvement of the economic growth are the key factors that are projected to encourage the growth of the overall pest control market, and thereby drive the rodenticides market growth in North America.
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