According to a new report published by Trends Market Research, titled, “Pest Control Market by Type, Pest Type, and Application: Europe Opportunity Analysis and Industry Forecast, 2018–2025,” The Europe pest control market size accounted for revenue of $3.8 billion in 2017 and is anticipated to reach $6.2 billion by 2025. This market is anticipated to grow at a CAGR of 6.1% from 2018 to 2025.
Europe has a presence of several number of the regulatory bodies, which fuels the growth of this region. This is more relevant in the agriculture industry. As pest management is becoming a regular practice in the 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 control practices in the agriculture industry to protect crop from type of pest population and produce optimum food.
Stringent government regulations in the developed Europe and other regions such as North America and Asia Pacific, for conservation of the environment, coupled with favorable government initiatives to promote bio-based pesticides are expected to drive the growth of the Europe pest control market. However, toxicity associated with chemicals that are used in the pest products can lead to serious health issues and expected to restrain the growth of the Europe pest control market. Nevertheless, consistent advancements in R&D to increase the dependency on bio-based pesticides offers a lucrative growth opportunity. Shifting dynamics of chemical industry toward bio-based chemicals also have a positive impact on the adoption pest control products.
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The pest control market is segmented into type, pest type, application, and region. Based on type, it is categorized into chemical, mechanical, biological, and others. Based on pest type, the market is classified into insects, termites, rodents, and others. Based on application, the market is divided into commercial, residential, agriculture, industrial, and others. Based on region, the market is analyzed across Germany, the UK, France, Italy, Spain, Netherlands, Switzerland, Poland, Czech Republic, Austria, Belgium, Greece, Slovakia, Portugal, Ireland, and rest of the Europe.
Based on type, chemical treatment services is the major segment due to lower prices as compared to other. Chemical pesticides are used when there is a need of development of pest resistance pesticides and damage to the beneficial organism. Chemical segment dominated the Europe pest control market by accounting for 31.8% market share and it is expected to grow at a CGAR of 5.7% during the forecast period from 2018 to 2025.
Based on application, the commercial application segment is predicted to dominate the Europe pest control market during the forecast period. This segment accounted for 43% share in 2017 and is further projected to reach $2.5 billion by the end of 2025, with a CAGR of 5.6% from 2018 to 2025.
The key players analyzed in this report 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. Some of the other players are NBC Environment, Eastern Pest Control, JG Pest Control, Cleankill Pest Control, and others.
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According to Eswara Prasad, Manager, Chemical and material at Allied Market Research, “The Europe pest control market is expected to move toward growth expansion phase in its industry life cycle over the forecast period. Factors fueling the growth in this market includes climatic changes fueling the pest production, increasing pests concerns in crop protection, and significant contribution from service providing companies. Pest attacks not only significantly reduces the crop yield but also spreads various diseases considering this government is developing novel regulation in order to attain optimum crop production by restraining the pest attacks. This initiative is expected to come up with new growth opportunities over the forecast period”
KEY FINDINGS of THE STUDY:
• Based on type, chemical segment dominated the Europe pest control market with a revenue share of over 31.8% in 2017.
• Based on application, commercial segment dominated the Europe pest control market with a revenue share of over 43% in 2017
• Germany, UK, Italy, Spain, and Netherlands are some of the promising country level markets in Europe
• The qualitative data in this report aims on the market dynamics, pest control market trends, and developments in the pest control industry while the quantitative data provides information of the market size in terms of revenue.