The global insect pest control market has been segmented on the basis of type of insects, application, control method, and region. The insect pest control market is projected to grow at a CAGR of 5.67% for the period 2016 to reach USD 17.35 billion by 2022. The key driving factors of this market include increased instances of vector-based disease outbreaks and effect of climate change on pest proliferation that have resulted in the need for public health initiatives through insect prevention and control programs.
Key players identified with a strong presence in the market for insect pest control includes:
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- BASF SE (Germany)
- FMC Corporation (U.S.)
- Rentokil Initial plc. (U.K.)
- Ecolab, Inc. (U.S.)
- The Terminix International Company LP (U.S.)
- Rollins, Inc. (U.S.)
- Bell Laboratories Inc. (U.S.)
- Arrow Exterminators Inc. (U.S.)
Acquisition was the key strategy adopted by industry players in order to achieve growth in the insect pest control market. This has helped companies to enhance their product portfolio, increase their clientele, gain distributional reach, and achieve market consolidation. Syngenta AG (Switzerland) and Rentokil Initial plc (U.K.) are some of the leading players that adopted this strategy in order to develop their insect pest control business. Through expansions, key companies have been expanding their market presence in regions of high potential growth for insect control business such as the North American and Asia-Pacific regions. Bayer AG (Germany) and BASF SE (Germany) are some of the leading manufacturers that adopted the new product launch strategy.
Bayer AG (Germany)
Bayer AG is also one of the key suppliers of insecticides to the global insect pest control market. The company, as a part of its strategy, has entered into acquisitions and expansions contracts to strengthen its product portfolio and improve its position globally. The company has been expanding its geographical presence with the help of new product launches and agreements. For example, Bayer AG launched Tacazo product in Argentina in August, 2016 and Bayer India launched Temprid SC to control cockroaches in residential and commercial areas in May, 2016.
FMC Corporation (U.S.)
FMC Corporation is one of the key players in the insect pest control market. Acquisitions have been its important approach towards stabilizing its presence in high-demand markets of the U.S., Europe, and Latin America. Strategic mergers have helped the company to strengthen its portfolio of approved active ingredients in both, established and emerging markets. Syngenta AG acquired DuPont’s pest control business for USD 125 million in September, 2012.
Rentokil Initial plc. (U.K.)
Rentokil Initial plc. is one of the global giants providing insect pest control services. This company has been keen on acquiring family-owned pest control agencies in order to strengthen its presence, market share, and services. The company collaborated with Google Inc. (U.S.) and PA consulting group (U.K.) to develop its pest control services in July, 2016.
Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=26785207