According to the report published by Zion Market Research, global demand for rodenticides market was valued at over USD 723.86 million in 2015, is expected to reach above USD 1004.72 million in 2021 and is anticipated to grow at a CAGR of slightly above 5.6% between 2016 and 2021.
Rodenticides are the chemical pesticides used for killing rodents. Rodents can be rats, mice, squirrels, woodchucks, chipmunks and other animals in some cases. Rodenticides are either anticoagulants or non anticoagulants depending on their function of coagulation. Natural rodenticides are those prepared using natural constituents and are generally environmental friendly.
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There has been the huge rise in the agricultural sector which has led to high consumption of various pesticides to gain high productivity. This factor is likely to assist the high rodenticides market growth. Moreover, high accomplishment from the government to improve the productivity of food to satisfy the requirement from the ever increasing population is likely to spur the growth of the rodenticides market in the coming years. Usage of rodenticides adversely affects domestic animals and children which have resulted into, laws and regulations for the use of rodenticides in definite regions. This, in turn, may hamper the growth of rodenticides market in the near future. The introduction of natural harmless rodenticides is likely to open new avenues for the growth of rodenticides within the forecast period. In addition, high demand for natural rodenticides is expected to present the market with adequate opportunities in the forecast period.
The rodenticides market can be segmented on the basis of the type which can be broadly classified as anticoagulant rodenticides, non-anticoagulant rodenticides, and others. The other type includes rodenticides made from natural products. The anticoagulant rodenticides can be further bifurcated into diphacinone, warfarin, chlorophacinone and coumatetralyl which are considered as first generation anticoagulant whereas second generation anticoagulant rodenticides are difenacoum, brodifacoum, flocoumafen, bromadiolone and difethialone. Numerous applications for the rodenticides are agricultural, pest control, warehouses and others. Depending on the mechanism the rodenticides can be differentiated as rodenticides with the single dose, rodenticides with multiple doses and rodenticide with acute dose. Rodenticides with single dose cause death after 24 hrs, rodenticides with multiple dose causes death after ingestion wherein acute dose causes death in 24 hrs.
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The rodenticides market was dominated by North America followed by Europe in 2015. Factors such as government funding and escalating farmer literacy for usage of advanced technologies and chemicals to produce high-quality food owing to depleting arable land is expected to boost the demand for rodenticides in this region. Asia Pacific is anticipated to exhibit the fastest growth in the market within the forecast period. This is mainly contributed to the ever-increasing demand for foodstuff in the region. Rapidly increasing industrialization sector in India and China had led to the decrease of plowable land. Latin America is predicted to experience bolstering growth in the rodenticides market owing to promising agricultural sector in Brazil. The Middle East and Africa is likely to show productive growth due to the elevated utilization of rodenticides and other pesticides in agricultural to attain high productivity.
The DOW Chemical Company, Syngenta AG, UPL Limited, Pelgar International, Senestech, Inc, Bayer Cropscience AG, BASF SE, Liphatech, Inc., Neogen Corporation, E.I. Du Pont De Nemours and Company, J.T. Eaton & Co., Inc and Impex Europa S.L are some of the major players in the rodenticides market. The players in the rodenticides continuous focus on R&D for innovative formulations.