USD 723.18 million
Report ID:
SQMIG15C2033 |
Region:
Global |
Published Date: July, 2024
Pages:
184
|Tables:
90
|Figures:
66
Global Anticoagulant Rodenticides Market size was valued at USD 723.18 million in 2022 and is poised to grow from USD 747.77 million in 2023 to USD 977.08 million by 2031, at a CAGR of 3.40% during the forecast period (2024-2031).
The market is expected to grow as a result of an increase in rodent disease frequency, rodent population expansion, and rodent control demand. Due to the presence of numerous manufacturing firms and the increasing demands from key application industries including such household, pest control, agriculture, and others for products that assist in rodent control, the market is extremely competitive in nature.
Big manufacturers are growing their product lines by creating powders, sprays, and baits with various active ingredient concentrations, including Syngenta Crop Protection AG, BASF SE, and BAYER AG, among others. Anything can be eaten by rodents, including garbage, food scraps, vegetables, plants, grains, seeds, and grass. The majority of rodent diets consist of seeds, while certain species are also carnivorous. In contrast to pellets, powdered, or another form, spraying anticoagulant rodenticides on a surface increases the likelihood that birds and humans are becoming secondary harmed.
These products are used in homes, urban areas, and for agricultural purposes in addition to being used in warehouses and pest control businesses. The market for anticoagulant rodenticides is expected to expand during the forecast period due to the increased demand for rodenticides to control the rodent population. It is anticipated that factors including expanding rat populations, growing demand for rodent control, and the availability of natural rodent control solutions will spur market expansion during the forecast period.
The demand for efficient farming methods and increased agricultural yields using cutting-edge and novel technologies has increased as global concerns about food security grow. More chemicals are being used as a result of application performance rodent methods of control. The development of such products has placed a strong emphasis on how competitive they are with traditional rodent control solutions now available on the market.
US Anticoagulant Rodenticides Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 723.18 million
Largest Segment
1st Generation Anticoagulants
Fastest Growth
1st Generation Anticoagulants
Growth Rate
3.40% CAGR
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Global Anticoagulant Rodenticides Market is segmented based on product type, form, application and region. Based on product type the Anticoagulant Rodenticides Market is segmented into 1st generation anticoagulants and 2nd generation anticoagulants. Based on form the Anticoagulant Rodenticides Market is segmented into pellets, blocks and powders & sprays. Based on application the Anticoagulant Rodenticides Market is segmented into pest control companies, agriculture, warehouses, urban centers, household, and others. Based on region the Anticoagulant Rodenticides Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Anticoagulant Rodenticides Market Analysis by Product
The 2nd generation anticoagulant product type dominated the market for anticoagulant rodenticides in 2021, contributing 59.1% of total sales. This is explained by the fact that the product can only be fed once, unlike first-generation anticoagulants. Single-dose anticoagulants are another term for second-generation anticoagulant rodenticides. The ingredients of authorized 2nd generation anticoagulant rodenticides are difethialone, difenacoum, bromadiolone, brodifacoum, and flocoumafen.
Second generation anticoagulant rodenticides provide a higher risk of secondary poisoning since chemicals require longer to break down and are more toxic to non-target species than first generation anticoagulant rodenticides. The market for first generation anticoagulant rodenticides is therefore anticipated to increase over the projected period because they are less dangerous than 2nd generation anticoagulant rodenticides.
Anticoagulant Rodenticides Market Analysis by Application
Pest control companies dominated the market and accounted for 36.3% of all revenue in 2021. Its high proportion can be explained by the increasing rodent populations as well as rising awareness of strict cleanliness standards. Residential, commercial, and agriculture clients are among the many that pest control companies service with their products and services. A lot of pest management firms also focus on limiting the growing rat and rat population by implementing preventive measures.
A harm the rodents inflict to food products can be serious. They can destroy crops and are to blame for the spread of more than 60 diseases that affect people, animals, and livestock. Rats impair grain storage and crop yield. A lack of food and crop loss may result from the damage globally. Through rotting, polluting, and chewing, they can damage crop varieties. The demand for anticoagulant rodenticides is thus likely to be driven by these factors.
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North America dominates the market for anticoagulants rodenticides due to the high rodent population densities that cause an increase in rodent-borne diseases, such as Hantavirus infections and its human transmission. According to the CDC, there are a lot of rats in developed nations that can spread the hantavirus. Due to the numerous producers and there are strict hygiene standards, the market for anticoagulants and rodenticides is also growing.
Asia Pacific is anticipated to experience major growth in the anticoagulant’s rodenticides market due to the extreme meteorological conditions, such as floods, severe rains, and cyclones, which are the main causes of the rodent epidemic in the region. Also, the provision of more food than usual in agricultural fields provides mice with a better breeding habitat, which in turn raises their number, which is one of the reasons expected to fuel the rise of the anticoagulant’s rodenticides market.
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Anticoagulant Rodenticides Market Drivers
Benefits of Anticoagulant Rodenticides to Bolster its Sales during Forecast Period
Anticoagulant Rodenticides Market Restraints
Harmful Impact on Environment to Hinder Market Growth
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Due to the industry's intense competition, diversified product offering, and wide geographic distribution of vendors. The manufacturers are always working to develop a variety of active components for anticoagulant-based rodent control products. For instance, BASF SE introduced the anticoagulant rodenticide "Leo Miao" in May 2021 in order to manage rats in the livestock industry. In an effort to keep up with the need for a sustainable future, manufacturing companies are making a lot of effort to broaden their product offerings and provide products derived from natural sources.
Anticoagulant Rodenticides Market Top Player’s Company Profiles
NEOGEN Corporation
Syngenta Crop Protection AG
BASF SE
PelGar International
Rentokil Initial plc
Bayer AG
Liphatech, Inc.
UPL
JT Eaton
Senestech Inc.
Anticoagulant Rodenticides Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Anticoagulant Rodenticides market is the market that is expected to grow as a result of an increase in rodent disease frequency, rodent population expansion, and rodent control demand. Due to the presence of numerous manufacturing firms and the increasing demands from key application industries including such household, pest control, agriculture, and others for products that assist in rodent control, the market is extremely competitive in nature. The demand for efficient farming methods and increased agricultural yields using cutting-edge and novel technologies has increased as global concerns about food security grow. More chemicals are being used as a result of application performance rodent methods of control. The development of such products has placed a strong emphasis on how competitive they are with traditional rodent control solutions now available on the market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 723.18 million |
Market size value in 2031 | USD 977.08 million |
Growth Rate | 3.40% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Anticoagulant Rodenticides Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Anticoagulant Rodenticides Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIG15C2033