Growth Strategies Adopted by Major Players in the Pest Control Market

The global pest control market is projected to reach USD 29.1 billion by 2026, at a compound annual growth rate (CAGR) of 5.1% during the forecast period. It is estimated to be valued USD 22.7 billion in 2021. Pest control has witnessed strong growth due to public health concerns and an increase in the frequency of pest infestations due to climate changes. In countries such as the US, strong regulatory requirements concerning pest control and environmental protection laws have helped bolster the market demand and attract service providers to set up business units. With the rise in demand and preference for a clean and pest-free environment, pest control manufacturers and service providers have been strategizing on coming up with innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend in driving the market in terms of value sales. Manufacturers and distributors make the best of the Internet in spreading awareness about their products and services among target consumers and simultaneously generating revenue sales.

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Restraints : High registration costs and interminable time for product approval

Strict and rigorous regulatory requirements in the environmental protection sector apply to the manufacturer’s production processes and environments. Moreover, these vary with the policies of each country. The usage of pest control products is subject to registration by health, environmental protection, and pest control agencies in various countries.

Governments evaluate the policies related to the purchase, registration, formulation, application, and disposal of pesticides. Government policies affect the demand and prices of pest control products. For instance, in the US, the use of pest control products is monitored by the EPA (Environmental Protection Agency) at a national level. It is subject to further regulation by state-level authorities.

By mode of application, powder witnesses increased demand from the residential sector

Powder is a popular form of insecticide used by pest control service providers. It is primarily used in the control of common pests such as ants, beetles, and cockroaches. The active ingredient differs based on the pests against which it is used. Common active ingredients such as cypermethrin and hydramethylnon are used in powder formulations. Powder formulations, even though effective, are also heavily regulated; for instance, hydramethylnon is classified by the US Environmental Protection Agency (EPA) as a potential carcinogen despite its minimal risk to humans; however, strict guidelines are to be followed by service providers to minimize the risk to humans and the surrounding environment. Powder formulations can be deployed for use in residential, commercial, and other settings, including transport facilities, to reduce or eliminate pest infestations.

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North America dominates the pest control market

The pest control market is dominated by a few pest control service providers such as Rollins, ServiceMaster Global Holdings, Rentokil Initial, and Ecolab. Apart from these major players, there are many local players in the market. Many major players are acquiring or collaborating with local players to increase their market shares, enhance their service portfolios, and strengthen their presence.

For instance, on 1st March 2019, Rentokil Steritech (US) acquired Virginia-based Loyal Termite & Pest Control (US). It would help Rentokil to expand its service in Virginia. Insects are the most found pests in the region. With increasing temperatures, the problem of bed bug infestation and termite infestation has increased in the North American region. The US is the dominant market in North America. Consumption of pest control products in the US is comparatively higher than in other countries. Although the diversity of termites in the US is low compared to other regions, globally, due to increasing temperatures, termite colonies have been spreading across the US.

The key players in this market include Bayer AG, Corteva Agriscience, BASF, Sumitomo Chemical Co., FMC Corporation, Syngenta AG, ADAMA, and Bell Laboratories. These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Benzenoid Market Will Hit Big Revenues In Future

The benzenoids market is projected to grow at a CAGR of 5.6% to reach USD 857 million by 2025. The global industry was estimated to be valued at USD 651 million in 2020. The steady onset of factors such as rise in consumption of processed food products, shifting flavor & fragrance trends and steady growth in the personal care products in the global benzenoids markets, particularly in emerging and developing markets have triggered demand for quality benzenoid chemicals.

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Driver: Shifting flavor & fragrance trends and preferences amongst populations globally

The global choices and preferences related to taste and aromas are changing rapidly with changing marketing trends, mindsets and increasing expenditure on lifestyle. As per the 2018 report of “Innova Market Insights” 64% of US consumers state that they “love to discover flavors from other cultures,” Dull flavors are being reinvented and more retail products and restaurants are highlighting ethnic flavors or street flavors. Unique scents and attractive designs have pushed the home fragrance market to its strongest position yet. While over the years traditionally rooted fragrances like jasmine and sandalwood have had a distinct contribution, especially for soaps, a combination of fruity-floral fragrances are now gaining traction with marketers wooing younger consumers.

Restraint: Potential health risks of synthetic chemicals affecting production growth

The genotoxicity and carcinogenicity are the key factors that are taken into consideration to determine the safety of the chemical use. Companies that manufacture perfume or cologne purchase fragrance mixtures from fragrance houses to develop their own proprietary blends. Benzenoids as food additives and fragrance ingredients are regulated as some of them pose potential risks to human health at defined concentrations. Organization such as US FDA (US Food & Drug Administration), EU Commission, IFRA (International Fragrance Association) set standards and guideline for manufacturers in order to control the possible health risks due to overuse of aroma chemicals in food and fragrance products.

By Application , the soaps & detergents sub-segment is estimated to observe the fastest growth in Benzenoid Chemicals market.

The aroma in soaps and detergent products is bought about by the use many natural and synthetic compounds. The generally used natural compounds include oregano oil, lemon oil, coconut oil, camellia oil, and coffee essential oil amongst others. During the spread of coronavirus pandemic, the significance of soaps and detergents for hygiene purposes grew tremendously giving a boost to the sales of the industry. With organizations such as American Centers for Disease Control and Prevention, promoting hand hygiene through use of soaps and clean running water the benzenoids market grew faster in the pandemic time.

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The increasing exports of the region of benzenoid chemicals to the North American and European regions, accounts for the high market share of the region.

China ranks first in terms of imports and exports of organic chemicals globally. The global chemical industry has seen a 7% annual growth rate. countries such as China, Japan, South Korea, Indonesia are doing exceedingly well in the cosmetics, beauty and personal care products market. According to Istrata reports, Southeast Asia revenue in the Beauty and Cosmetics segment amounts to USD25.449 billion in 2020 where 74% of sales contribute to mass-marketed cosmetics and 26% on luxury items. Thus the region accounts for the largest market shares in the global benzenoid market.

Nematicide Market Will Hit Big Revenues In Future

The nematicide market is projected to reach USD 3.0 billion by 2027, recording a CAGR of 9.9% during the forecast period. The global industry is estimated to be valued at USD 1.9 billion in 2022. Nematodes are non-segmented, bilaterally symmetric worm-like invertebrates that lack respiratory and circulatory systems but have a body cavity and a fully functional digestive system. It is difficult to create chemical countermeasures against worms that infests plants. It is challenging to administer a chemical to a nematode's immediate surroundings since most Phyto-parasitic nematodes spend their whole lives isolated to the soil or inside plant roots.

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Opportunities: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. One such innovative method is seed treatment, which is gaining traction due to its less or non-toxic nature, reduced cost of cultivation, and favourable effect on the yield and quality of crops. Moreover, seed treatment is targeted toward the desired pests and improve efficiency in nutrient uptake.

The use of biologicals and related alternative management products is increasing. R&D teams of major global players are also engaged in discovering target-specific innovative products by using biological insecticides, which promote organic agriculture. For instance, Crop IQ Technology announced the release of NEMA-DEAD in 2018, the world's first organic nematicide combining chemicals and natural nematicides in a single formula. NEMA-DEAD is therapeutic like chemical nematicides and preventive like biological nematicides, with no residuals. It does not produce stress on treated plants and contains bio stimulants that help wounded bio-stimulants biotic challenges.

Root-Knot segment accounted for the largest share in the global nematicide market by nematode type in 2021

The nematicide market has been segmented by nematode type into root-knot nematodes, cyst nematodes, lesion nematodes and others (Stubby root and stem nematodes). In 2021, the root-knot segment dominated the global nematicide market with a share of 41.6 %, followed by cyst nematodes with a share of 29.5 % and lesion nematodes with a share of 17.4 %. Root-knot nematodes are major nematode types and are impacting yield losses in high-value cash crops, such as onion, winter wheat, onion, tomato, and hot pepper. Cyst nematodes are most prevalent in Europe and are found across the globe. 

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North America dominated the nematicide market, with a value of USD 0.54 billion in 2021; it is projected to reach USD 0.91 billion by 2027, at a CAGR of 9.4 % during the forecast period.

The US is one of the largest soybean producers and its by-products and contributes to a significant share in the oilseeds market. While a major portion of the demand for oilseeds is from the food and feed industries, the regulatory framework for the biofuel sector of Mexico has been changing. The scope for oilseeds in the biofuel sector is also changing. Canada has been experiencing a high demand for grains, stemming from the livestock industry. The countries are not self-sufficient entirely and depend on imports from the South American countries such as Brazil and Argentina.

Growth Strategies Adopted by Major Players in the Biofertilizers Market

The global biofertilizers market was valued 2.8 billion in 2022 and is projected to reach USD 5.2 billion by 2028, growing at a CAGR of 10.9% during the study period. The market Size is estimated to be valued at USD 3.1 billion in 2023. Through natural processes such as nitrogen fixation; phosphate solubilization; and the production of compounds that stimulate growth, biofertilizers provide nutrients to plants. They boost soil organic matter and aid in restoring the soil's natural nutrition cycle. By using biofertilizers, growers can increase the sustainability and health of the soil and cultivate healthy crops. Only bacteria and other biological elements that are not damaging to the environment are present in biofertilizers. As a result, they contribute to reducing pollution brought on by agricultural activities, particularly soil pollution.

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Drivers: Adoption of precision farming and protected agriculture

The goal of precision farming is to produce profitable agricultural output by identifying and analysing spatial and temporal variability using cutting-edge technologies. To boost crop output and yield, agricultural biologicals are employed in precision farming and protected agriculture. The market for biofertilizers is growing as a result of the widespread use of agricultural biologicals in protected agriculture, which promotes the use of biofertilizers. Farmers can track the application of liquid biofertilizer by using fertilisation plans that use GPS-guided geographic information system (GIS) software. Therefore, it is anticipated that the market for biofertilizers will be driven by the rise in land under precision and protected agriculture.

Opportunities: New target markets: Asia Pacific and Africa

The Asia Pacific and Africa regions are one of the largest consumers of fertilizers. Population development, particularly in Asia, has led to an increase in food demand, which will ultimately result in an increase in fertilizer usage. Governments in these regions are placing a strong emphasis on the use of environmentally benign fertilizers, like biofertilizers and organic manure, to mitigate the negative impacts of chemical fertilisers. Government agencies have aided in raising farmer understanding of the benefits of using biofertilizers. Africa has experienced active conventional farming over the past few decades, which has utilized synthetic fertilizers to supply the soil with vital plant nutrients. However, the quality of the soil and the vital nutrients have been compromised by the over application of these fertilizers. The region now needs biofertilizers as a result of this aspect.

By type, nitrogen-fixing biofertilizers is projected to gain largest share in the biofertilizers market during the study period

Increased biological nitrogen fixation, improved nutrient availability or uptake, greater absorption and stimulation of plant growth by hormonal action or antibiosis, or through breakdown of organic wastes are all ways that nitrogen fixing biofertilizers aid in enhancing crop output. Also, the use of nitrogen fixing biofertilizers as a partial replacement for chemical fertilisers reduces their quantity and cost and shields the environment from contamination caused by their heavy usage.

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North America is projected to gain the largest market share in the global biofertilizers market.

North America is projected to gain the largest market share in the global biofertilizers market. The presence of large number in the region allows farmers/growers in the region, access to wide range of products at competitive prices. The governments in the region are promoting use of agricultural inputs which causes less environmental degradation and hence are encouraging the use of biofertilizers. In countries such as US and Canada, farmers are focused on producing cash crops at larger scale which is also driving the market in the region.

Sustainable Growth Opportunities in the Biostimulants Market

The global biostimulants market was valued at USD 3.5 billion in 2022 and is projected to reach USD 6.2 billion by 2027, growing at a cagr 11.8%from 2022 to 2027. Food and agricultural production systems worldwide are facing unprecedented challenges, from the increasing demand for food for a growing population, rising hunger and malnutrition, adverse climate change effects, overexploitation of natural resources, loss of biodiversity, and food loss and waste. These challenges can undermine the world’s capacity to meet its food needs now and in the future.

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Drivers: Increase in need for sustainable agriculture

A high level of hunger and malnutrition is one of the major challenges that the world is facing today. To meet the increasing demand for food from over 9 billion people by 2050, immense pressure on agriculture will be exerted to produce crops with a high-quality yield. Simultaneously, one-third of the total food production is wasted globally throughout the supply chain, incurring enormous environmental and financial costs.

Agricultural producers are required to identify possible ways to be more efficient and effective in the coming decade. Biostimulants can sustainably address this issue by providing protection against stress, thereby stimulating the plant’s growth. The market for biostimulants is expected to grow in the coming years due to the increasing consumer awareness about the benefits of organic foods, the implementation of organic regulations, and the adoption of GLOBALGAP (Global Good Agricultural Practices) policies. A large variety of crops, such as fruits & vegetables and cereals, have been gaining support for organic practices from government subsidies and financial aids as well as research assistance from organizations and regulatory bodies, such as FiBL (Research Institute of Organic Agriculture, Switzerland), and USDA (US).

Opportunities: Growing demands for seed treatment

According to MarketsandMarkets insights, there is a growing demand for biostimulant treated seeds globally. The production of high-quality and effective seeds is essential for obtaining a higher crop yield. Biostimulants facilitate an increase of seed vigor during the crucial growth phases, due to which they are being used globally for seed treatment purposes. In addition, many companies have already started exploring this segment with increased investments in R&D activities. The right combination of synthetic crop protection and biological-based seed treatments is proving to be useful. Cotton seedlings were the first to be treated on a large scale with biological solutions in the US in 1999; the industry has grown since. Seed treatment provides an efficient mechanism for enhancing the activity of seeds in the soil environment, where they are appropriately positioned to colonize seedlings and roots and protect them against soil-borne diseases and pests.

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Europe dominated the biostimulants industry and is projected to grow at a CAGR of 11.5% during the forecast period

Europe accounted for the largest share in the biostimulants market in 2021. An increase in land degradation, the need for quality parameters, and the need for high product yield have strengthened the European regulatory authorities demand for clean and sustainable input solutions. The concept of organic production has also gained popularity among farmers and consumers in the last decade. The need for organic products, such as biostimulants, has seen a rising trend in the EU. This has boosted various European biostimulant companies expanding their global network to reach the untapped market. The region has also launched the ‘European Green Deal’ initiative, which aims to expand the use of sustainable practices, such as precision agriculture, organic farming, agroecology, agroforestry, and stricter animal welfare standards. The new ‘Farm to Fork’ Strategy aims at reducing the environmental and climate footprint of the EU food system, strengthening its resilience, ensuring food security, facilitating the transition toward competitive sustainability from farm to fork, and making use of new business opportunities.

The key players in this market include BASF SE (Germany), UPL Limited (India), Adama Ltd. (Israel) and FMC Corporation (US).

Upcoming Growth Trends in the 3D Food Printing Market

The global 3D food printing market size was reasonably estimated to be approximately $201 million in 2022 and is poised to generate revenue over $1,941 million by 2027, growing at a CAGR of 57.3% from 2022 to 2027. The global market is highly impacted by innovations, as manufacturers are always introducing new processing techniques to produce complex food products of different shapes and sizes, thereby focusing on catering to the increasing demand from the processed food industry and consumers.Development of new machinery and enhancement of the existing ones are the key strategies adopted by many players in the market. In addition, increasing focus on the expansion of facilities, marketing schemes, and information exchange programs to create awareness and enhance the applications of 3D food printer is projected to contribute to the growth of the market.

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Drivers: Bourgeoning demand for gourmet food

3D food printing provides the ability to personalize food according to individual needs. The increasing market for customized food is a major reason for the growth of the 3D food printing market. The advancement in technology has made people busier with their work, and they often fail to experience their favorite food due to the shortage of time. This gives rise to the market for customized food; however, the customized food items need to be mixed with appropriate preservatives to keep them fresh. Frequent consumption of preservatives is not good for health in the long run. Thus, 3D food printing technology provides an option to have homemade freshly cooked food for the users.

The 3D food printer can print food in different complex designs, which is not possible manually. A 3D food printer comprises a food-grade syringe or cartridge that holds material, a real food item, and deposits exact fractional layers through a food-grade nozzle directly onto a plate or other surface in a layer-by-layer additive manner. This food can be a source of a healthy diet for children and adults who want to indulge in food such as chocolate, pizza, and pancakes in unique shapes and designs.

The commercial segment is estimated to account for the largest share in the global market in 2021

By vertical, the commercial segment is estimated to account for the largest share in the market in 2022. Commercial segment is estimated to witness growth due to major demand of 3D printed food can be served through baking industry, restaurants, confectionaries and retail store. The companies are working on their products to make them more efficient so that they would be able to provide more options for customized food to the customers. For a instance, BeeHex, the company manufacturing the 3D pizza printers, has demonstrated the use of their Chef3D food printer to print pizzas in various shapes. Thus, the ability of 3D food printers to print food in complex designs to provide customized food would drive the market for 3D food printers in coming years with the developments in technology.

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The Asia Pacific market is projected to grow at the highest CAGR during the forecast period

The market in Asia Pacific is projected to grow at the highest rate with the reducing cost of the technology in the coming year. Countries such as China, South Korea, and Japan are working actively in the 3D food printing market, signifying the promising future for 3D food printing technology in the coming years

Key players in this market include 3D systems (US), TNO (Netherlands), NATURAL MACHINES (Spain), Choc edge (UK), Systems & Materials Research Corporation (US), byFlow B.V. (Netherlands), beehex (US), CandyFab (US), ZMORPH S.A (Poland).

Nematicide Market Growth by Emerging Trends, Analysis, & Forecast

The nematicide market is projected to reach USD 3.0 billion by 2027, recording a CAGR of 9.9% during the forecast period. The global industry is estimated to be valued at USD 1.9 billion in 2022. Nematodes are non-segmented, bilaterally symmetric worm-like invertebrates that lack respiratory and circulatory systems but have a body cavity and a fully functional digestive system. It is difficult to create chemical countermeasures against worms that infests plants. It is challenging to administer a chemical to a nematode's immediate surroundings since most Phyto-parasitic nematodes spend their whole lives isolated to the soil or inside plant roots.

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Drivers: Economic damage such as crop production losses which leads to monetary losses, caused by Phyto parasitic nematodes continues to maintain the interest of private and public research institutes

According to CropLife India, food crops are damaged by more than 10,000 species of insects, 30,000 species of weeds, 100,000 diseases (caused by fungi, viruses, bacteria, and other microorganisms), and 1,000 species of nematodes, globally. The losses caused need to be contained to meet the food requirements to keep crop production from stagnating.

According to the FAO, approximately 20%–40% of crop yield is lost every year due to pest infestation. Crop pests include fungi, bacteria, viruses, insects, nematodes, viroid, and oomycetes. The diversity of crop pests continues to expand, and new strains are continually evolving. The effect of global warming would increase pest infestation further, as most of them thrive in warmer climates. Losses of major crops due to fungi, nematodes, and other such microorganisms are also on the rise. The study suggests that these figures would increase due to an increase in global temperatures, increased cropping intensity, and reduced crop rotations; this will lead to an increased demand for crop protection products such as nematicides.

Opportunities: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. One such innovative method is seed treatment, which is gaining traction due to its less or non-toxic nature, reduced cost of cultivation, and favourable effect on the yield and quality of crops. Moreover, seed treatment is targeted toward the desired pests and improve efficiency in nutrient uptake.

Organic acid-based plant extract biocontrol is one of the major trends

Various key players and start-ups are focusing on developing bionematicides through alternate sources which were previously unexplored. A variety of organic acids, including amino, acetic, butyric, formic, and propionic acids have been shown to be toxic to certain species of plant parasitic nematodes. These are either the result of microbial decomposition of various compounds in the soil or metabolites produced by microorganisms. Several acids, including heptalic acid and hydroxamic acid, have been used successfully against nematodes.

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North America dominated the nematicide market, with a value of USD 0.54 billion in 2021; it is projected to reach USD 0.91 billion by 2027, at a CAGR of 9.4 % during the forecast period.

The US is one of the largest soybean producers and its by-products and contributes to a significant share in the oilseeds market. While a major portion of the demand for oilseeds is from the food and feed industries, the regulatory framework for the biofuel sector of Mexico has been changing. The scope for oilseeds in the biofuel sector is also changing. Canada has been experiencing a high demand for grains, stemming from the livestock industry. The countries are not self-sufficient entirely and depend on imports from the South American countries such as Brazil and Argentina.