The global insect pest control market is segregated on the basis of type of insects, application, control method, and region. The insect pest control market is estimated to flourish at a CAGR of 5.67% for the period 2016 to reach USD 17.35 billion by 2022. Some of the major driving factors of this market are increased instances of vector-based disease outbreaks and effect of climate change on pest proliferation which has resulted in the need for public health initiatives through insect prevention and control agendas.
Some of the important market players with a strong presence in the market for insect pest control are:
- 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.)
Acquirement was the chief approach assumed by industry players in order to achieve growth in the insect pest control market. This helps companies improve their product collection, expand their clientele, widen distributional reach, and achieve market unification. Syngenta AG (Switzerland) and Rentokil Initial plc (U.K.) are some of the companies that embraced this strategy to advance their insect pest control business. With expansions, several dominant players are and have been expanding their market presence to regions of high potential growth for insect control business such as the North American and Asia-Pacific. Bayer AG (Germany) and BASF SE (Germany) are some of the top producers that used the new product launch strategy.
Bayer AG (Germany)
Bayer AG, one of the key suppliers of insecticides, as a part of its strategy has commenced acquisitions and expansions contracts to expand its product portfolio and improve its position in the global charts. The company has been growing its geographical presence with new product launches and agreements. For instance, it launched Tacazo product in Argentina in August, 2016 and Bayer India launched Temprid SC to curb cockroaches in residential and commercial premises in May, 2016.
FMC Corporation (U.S.)
FMC Corporation is another important player in the insect pest control market. Acquirements have been its vital grand design to stabilize its presence in high-demand markets of the U.S., Europe, and Latin America. Tactical mergers have assisted the company to strengthen its range of approved active ingredients in both, new and mature markets. Syngenta AG acquired DuPont for USD 125 million in September, 2012.
Rentokil Initial plc. (U.K.)
Rentokil Initial plc. has also earned its reputation of being a global giant in the insect pest control market. It has been acquiring family-owned pest control organizations to reinforce its presence, market share, and services. The company teamed up with Google Inc. (U.S.) and PA consulting group (U.K.) to develop its pest control services in July, 2016.