Asia Pacific Rodenticides Market was worth USD 161.5 billion in 2021 and is projected to be growing at a CAGR of 4.9%, to touch USD 196.06 billion by 2026.
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.
Drivers and Restraints of Asia Pacific Rodenticides Market:
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.
Asia Pacific Rodenticides Market - By Type:
Asia Pacific Rodenticides Market - By Mode of Application:
Asia Pacific Rodenticides Market - By End User:
The non-anticoagulant rodenticides segment is projected to grow at the highest CAGR from 2022 - 2027.
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.
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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