Pest control products and services market reached USD 17.01 Billion in 2016

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Pest control products and services market reached USD 17.01 Billion in 2016

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Rising Urbanization Especially in Developing Countries is Expected to Drive the Global Pest Control Products and Services Market, according to our research report  Global Pest Control Products and Services Market Outlook 2023.

Global pest control products and services market is segmented into end-use industries. Among this segment, commercial segment is expected to be the fastest growing market during the forecast period on account of growing concern towards hygiene and cleanliness of workplace. Rapid growth in commercial sector across the globe along with increasing infrastructural development is expected to spur the demand for pest control products and services. The global pest control products and services market is projected to expand at a CAGR of 6.1% over the forecast period i.e. 2016-2023. Moreover, the market of pest control products and services reached USD 17.01 Billion by the end of 2016. The global market of pest control products and services is expected to uplift on the back of rising demand for pest control services in commercial and corporate sector.

North-America is expected to remain the most dominant market in pest control products and services market across the globe. The market is expected to register a CAGR of 5.8% during the forecast period i.e. 2016-2023 on account of rising need for pest control products and services in agriculture sector. On the other hand, Asia-Pacific market of pest control products and services is the most resourceful and revenue generated market for pest control service providers and products manufacturers. Asia-Pacific market of pest control products and services is projected to register a CAGR of 6.2% during the forecast period i.e. 2016-2023.

Rapid Pace in Urbanization:

Increasing urbanization across the globe is increasing health and hygiene concerns among the population. Moreover, rapid expansion of modern infrastructure and smart cities across the globe further requires the services and products related to pest control to maintain hygiene. Rising infrastructural development all over the world has bolstered the congestion in the cities resulting in increase in pest population which has impelled the demand for pest control services and products.

Growing Demand in Commercial Sector:

Vast varieties of chemicals and pest control techniques in the global market and large scale availability of these products has established importance in various end-use industries. Increasing awareness towards pest control in commercial sectors to maintain hygiene in the workplace is contributing the major share in the growth of pest control products and services.

Although, presence of stringent government regulations on the production of pest control products due to high toxic level of these products is the major challenge for the key players of this industry. Likewise, rising concern towards environmental health and modern infrastructure with proper sanitation system is expected to hamper the growth of pest control products and services market.

The report titled Global Pest Control Products and Services Market Outlook 2023” delivers detailed overview of the Global Pest Control Products and Services Market in terms of market segmentation by Product type, by Application type, by Services Type, by End-user.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global pest control products and services Market which includes company profiling of Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. and Massey Services Inc., etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pest control products and services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

To know more about this research, kindly visit http://www.researchnester.com/reports/pest-control-products-and-services-market-global-demand-analysis-opportunity-outlook-2023/249

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