Industry

Rodenticides Market Recent Development And Future

The Rodenticide Global Market Report 2023 by The Business Research Company, provides rodenticide market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Rodenticide Global Market Report 2023, the market size is expected to grow from $5.94 billion in 2022 to $6.45 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global rodenticide is expected to grow to $8.87 billion in 2027 at a CAGR of 8.3%.

The growth of the agricultural industry is expected to propel the growth of the rodenticide market going forward. The agriculture industry refers to enterprises or companies that are majorly involved in cleaning, processing, storing, or packing various types of products that are mainly obtained from agricultural production. Rodenticides are mostly used in the agricultural industry to protect agricultural products from rats, mice, and other rodent pests.

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The rodenticide market is segmented:

1) By Type: Anticoagulant, Non-Anticoagulant

2) By Form: Pellet, Spray, Powder

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

Product innovation has emerged as a key trend gaining popularity in the rodenticide market. Major companies operating in the rodenticide sector are focused on developing innovative rodenticides that control rodent infestations effectively to sustain their position in the market. For instance, in April 2021, BASF SE, a German chemicals company launched an innovative rodenticide to address super-rat resistance in the UK. It is a new bait that is effective in limiting infestations of super-rats – rodents unaffected by anticoagulants. The new product is made from the active ingredient cholecalciferol that causes death from hypercalcaemia. It avoids wastage in farms, preventing further contamination and spread of disease.

The rodenticide market report table of contents includes: