Pest Management Services Market is Expected to Reach $19.0 Billion by 2026

According to a new report published by Allied Market Research, titled, "Pest Management Services Market by Type, Pest Type, and Application: Global Opportunity Analysis and Industry Forecast, 2018–2025," The global pest management services market size was valued at $11.8 billion in 2018 and it is anticipated to reach $19.0 billion, registering a CAGR of 6.25% from 2019 to 2026.

Pest control implies the management and regulation of pests that adversely affect human health and environment. Pest management practices prevents the adverse effects of the various types of pests on human and agricultural crops.   

Implementation of stringent government regulations in the developed regions, such as North America and Europe, toward conservation of environment and favorable government initiatives to promote the use of bio-based pesticides are expected to drive the growth of this market. Besides this, constant changes in climatic conditions is a prominent factor for the growth of pests, as pests survive at elevated temperature. However, toxicity and health-related issues due to chemicals present in pesticides is a significant factor restraining the growth of the pest management services market growth. On the contrary, ongoing R&D activities to increase the dependency on bio-based pesticides is expected to offer lucrative growth opportunities for the market.

Europe has a presence of several numbers of the regulatory bodies, which fuels the growth of this region. This is more relevant in for the agriculture industry a. As pest management is becoming a regular practice in crop management to attain optimum crop yield and produce good quality food. Drastic rise in the pollution level and the consistent climatic changes hamper the quality of the crops. Consequently, there is a mandate on pest management practices in the agriculture industry to protect the crops from the type of pest population and produce optimum food. This leads to the increasing adoption of pest management services that ultimately contributes to global market growth. 

On the basis of type, the Based on type, chemical pest management services segment accounted for the largest market share in 2018. This can be highly attributed to their lower prices as compared to other services. Chemical pesticides are used when there is a need for the development of pest resistance pesticides and damage to the beneficial organisms.

On the basis of Based on the application, the commercial application segment is predicted to dominate the global pest management services market during the forecast period. The growing need for pest control products in the commercial sector in order to protect commodities and material is likely to fuel the adoption of pest management practices during the forecast period.  

Some of the major players analyzed in the global pest management services market are BASF SE, Bayer AG, Rentokil Initial plc, Ecolab, Rollins, Inc., FMC Corporation, The ServiceMaster Company, LLC., Syngenta, Dodson Pest Control, Inc., and Lindsey Pest Services.

Key Findings of the Study:

• Chemical, in the type segment dominated the global, with a revenue share of around 30.0% in 2018
• Commercial, in the application segment accounted for largest pest management services market share of around 40.0% in 2018
• The Asia-Pacific region is projected to grow at the highest CAGR of nearly 8.20%, in terms of revenue during the forecast period
• China, India, the U.S., Germany, and France are some of the dynamic country-level markets witnessing rapid adoption of pest management practices across the globe
• Most of the industry participants are based in either North America and Europe, which is leading to superior adoption of pest management services over other regions
• Highly toxic chemical content used in the pest management products is anticipated to restrain the growth of this market