Asia Pacific Rodenticides Market to Witness a Rise of USD 1.21 Billion By 2021
Posted by rohan on November 6th, 2017
The Asia Pacific Rodenticides Market was worth USD 0.95 billion in 2016 and is projected to be growing at a CAGR of 4.9%, to touch USD 1.21 billion by 2021. Rodenticides are extensively used in agricultural fields, greenhouses as well as warehouses. Pest Control Agencies are also among the major users.
Increasing demand to protect crops, as well as food grains, is likely to have a positive effect on the market over the forecast period. The growing agriculture sector in emerging nations such as China, India, and Brazil is expected to boost the market growth in the region.
Rising demand for pesticides due to growing agriculture sector increasing food demand is expected to drive the market in Asia. Rising awareness amongst farmers and horticulturists concerning adverse effects of rodents on crops and developing farming techniques are predicted to further supplement the Asia-Pacific market growth. Strict regulations by governmental agencies over rodenticides usage and resulting soil contamination is further likely to challenge the market. Toxicity of rodenticides on humans and animals has been a fundamental factor restraining the growth of the market.
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The Asia-Pacific Rodenticides market is segmented based on Type, Mode of Application, and End User. The market for Rodenticides, on the basis of Type is segmented into Non-Anticoagulant and Anticoagulant. On the basis of Mode of Application, the Asia-Pacific Rodenticides Market is segmented into Pellets, Powders and Sprays. On the basis of End Use it is segmented into Agricultural Fields, Urban Centres, Warehouses, Pest Control Companies and Household Consumers. The non-anticoagulant rodenticides segment is projected to grow at the highest CAGR from 2016 to 2022.
The Asia Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia Pacific is likely to be the fastest growing market in 2015 for rodenticides and is predicted to gain traction over the forecast period. Swiftly growing agricultural sector in India and China contributes to the high growth of rodenticides in Asia Pacific. Increasing achievement from the government for improving the productivity and quality of food is expected to incentivize the growth of rodenticides market.
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Companies such as Syngenta, BASF, and Bayer Crop Science have been involved in R&D to develop non-toxic rodenticides. The Key companies are aggressively pursuing supply contracts to expand consumer reach and increase market presence. The above is expected to open new possibilities to market participants and provide them with competitive gain. Some key players operating in the market include BASF SE, Bayer Crop Science, Neogen Corp., Impex Europa S.L., J.T. Eaton & Co., Liphatech, Pelgar International, Syngenta SA, and UPL Limited.
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About the Authorrohan
Joined: September 20th, 2017
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