Global Rodenticide Market Overview 2023-2032 - Forecast Market Growth And Major Drivers, By The Business Research Company

The global rodenticide market segments are categorized -

1) By Type: Anticoagulant, Non-Anticoagulant

2) By Form: Pellet, Spray, Powder

3) By Application: Agricultural Fields, Warehouse Pest, Control Companies, Other Applications

The top opportunities in the rodenticide market segmented by type will arise in the anticoagulant segment, which will gain $2.5 billionof global annual sales by 2027. The rodenticide market size will gain the most in the USA at $624.6 million. 

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One of the major drivers in the market is the rising urbanization, especially in developing countries, that is leading to a greater demand for the construction of residential and commercial buildings. Public health is also anticipated to be affected by urbanization when rural infections migrate to cities and multiply there, leading to a greater demand for rodenticide to protect the buildings from rodents. For example, according to the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, in 2018, 55% of the world's population resided in urban regions, and it is projected to rise to 68% by 2050.  Therefore, the increasing urbanization will propel the rodenticide market growth.

The growing agricultural industry also contributes to the growth of the rodenticide market due to rodents being major problem for the agriculture sector. For example, according to the 2031 projections by the United States Department of Agriculture, a US-based agricultural department, for the first few years of the projection period compared to the 2021/22 season, the total planted area of the eight primary field crops in the USA is anticipated to expand moderately. The total area under cultivation for the eight crops is expected to reach a high of 255.6 million acres in 2023–2024 and a near-low of 251.7 million acres in 2031–2032. This will require a larger amount of rodenticide to counter the inevitable increase of rodent problems.

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https://www.thebusinessresearchcompany.com/report/rodenticide-global-market-report

The global rodenticide market is highly fragmented, with a large number of small players. BASF SE was the largest competitor with 3.5% rodenticide market share, followed by Syngenta, Bayer AG, Neogen Corporation, UPL Limited, Bell Laboratories Inc, Liphatech, Inc., PelGar International, JT Eaton, and Impex Europa.

As per The Business Research Company' rodenticide market analysis, players are adopting strategies such as launching new products to stay competitive and enhance their market position in the pest control sector, expanding business capabilities through mergers and acquisitions, and focusing on strengthening business operations through strategic collaboration.

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