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Insect Pest Control Market Estimated to Paint a Colourful Growth by 2027

Insect Pest Control Market 2020 across the review period 2018 to 2023. The insect pest control market can earn about USD 17,900.8 Mn by 2023 from USD 13,901.06 Mn in 2018. MRFR suggests that the insect pest control market can rise at 5.19% CAGR across 2018 to 2023.  The rising demand for maintaining hygienic in both residential and working spaces, especially under lockdown due to COVID 19, can underpin the expansion of the market. However, high toxicity associated insecticides can limit the market growth.
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Competitive Analysis
China National Agrochemical Co., Ltd. (China), BASF SE (Germany), Rentokill Initial plc (U.K.), SenesTech, Inc. (U.S.), PelGar International Limited (U.K.), Bayer AG (Germany), ADAMA Agricultural Solutions Ltd. (Israel), Rollins, Inc. (U.S.), Sumitomo Chemical Co., Ltd. (Japan), Syngenta (Switzerland), Curtis Gilmour (U.S.), Ecolab (U.S.), and FMC Corporation (U.S.) are some key players in the insect pest control market that are listed by MRFR.
Segmentation Analysis
The segment assessment of the insect pest control market is done by insect type, control method, and application.
The control method based segments of the insect pest market are chemical, biological, and physical. The chemical segment can generate revenue of about USD 10,070.1 Mn by 2023. The rise in popularity of chemical pest control methods can explain the growth of the market segment. The biological segment can rise at 5.58% CAGR in the forecast period to value at USD 2,940.8 Mn by 2023.
The insect type based segment of the insect pest control market are termites, mosquitoes, ants, cockroaches, bed bugs, flies, and others. The termites segment can exhibit 6.35% CAGR in the forecast period. By 2023, the segment can generate USD 5,808 Mn. The cockroaches segment can rise at 5.50% CAGR through the review period to generate nearly USD 3,291 Mn.
The application based segment of the insect pest control market are livestock farms (16.9%), residential (24.2%), and industrial (13.8%). The commercial segment is likely to rise at 5.28% CAGR in the assessment period and earn USD 8,099.9 Mn by 2023. The residential segment can rise at 5.61% CAGR to earn about USD 4,420 Mn revenue by 2023.
Regional Analysis
Region-wise, the Insect Pest Control Market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). As per MRFR evaluation, the insect pest control market in North America can accounted for above 48.8% market share in the analysis period. Europe, APAC, Latin America, and MEA can acquire about 20.8%, 19.3%, 6.0%, and 5.0% market share in the years to come.
In North America, the insect pest control market can earn about USD 8,568.7 Mn by 2023 for the global market. The gradual increase in the demand insect pest control solutions for residential use and increase in the demand for pest management services across restaurants, hotels, and the food processing sector can bolster the regional insect pest control market surge.
In APAC, the insect pest control is likely to register about 6.68% CAGR through the assessment period. APAC insect pest control market can earn about USD 3,754.5 Mn by 2023. The increase in the demand for pest control solutions due to increase in need in food services, along with the expansion of pharmaceutical and tourism sectors, can promote the expansion of the insect pest control market in APAC. In MEA, the regional insect pest control market can increase at 6.03% CAGR. MEA insect pest control market can value at USD 946.7 Mn by 2023.
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