The global pest control market is estimated to be valued at USD 22.7 billion in 2021 and is projected to reach USD 29.1 billion by 2026, at a CAGR of 5.1% during the forecast period. The increasing scope of urbanization and climate change has had a profound impact on pest proliferation, which has witnessed a significant increase over the past decade. The increasing scope of infrastructure and development of megacities has witnessed immense growth in the Asia Pacific and South America, which are among the fastest-growing markets for pest control solutions. The pest control market has been evolving for decades. Due to the growing demand for pest control from the residential sector, the development of automated traps and biological methods in the form of integrated pest management has benefited the market.
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Pest management includes controlling infestations of insects, animals, germs, or other organisms that damage property, destroy food crops, and have adverse effects on the environment. Pest control is the process of minimizing or eradicating a wide range of undesirable insects and other pests from areas used for productive purposes, by using chemicals, technologies, special equipment, and other safety measures. There have been rising instances of epidemics caused by pests such as cockroaches, bedbugs, rodents, termites, mosquitoes, flies, and ants, across the globe. Various types of insecticide formulations are prevalent; these vary according to insect type, target site, formulation, the active ingredient used, application rate, permit requirements, and product registration.
The chemical control method dominates the pest control market among the types of pest control methods used by pest management professionals. Chemical control is based on substances that are toxic or poisonous to pests. Chemical pesticides are used to control pests and diseases caused due to pests. The use of chemical pesticides is widespread due to their relatively low cost, the simplicity of application, and their effectiveness, availability, and stability. Chemical pesticides are generally fast-acting, which limits the damage to crops. When chemical pesticides are applied to protect plants from pests and diseases, it is important to ensure that the plant itself should not suffer from the toxic effects of the protection products.
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The North American market for pest control has strong potential to remain as the leading market in the coming years. North America is the largest market for pest control, with more than 50.6% of the market share in 2020. There are over 20,000 pest control companies in North America, with an average of six technicians in each company. The effects of climate change are profound in certain regions of the US including the Midwest and states along the eastern seaboard. This has led to increased demand for pest control services and products in these regions. The strengthening of the housing market and a steadily improving economy have led to increased investments in both residential and commercial properties. According to the US Census Bureau and the US Department of Housing and Urban Development, nearly 667, 000 new single-family houses were sold in February 2019, compared to 588,000 new single-family houses in December 2018. Thus, with the increasing number of new houses, the demand for pest control products and services is also projected to increase between 2021 and 2026.
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