The rodenticides market is expected to grow at a steady pace in the coming years. Rodenticides are chemical or biological agents that are used to kill rodents such as rats, mice, and others. The market is primarily driven by the growing demand for rodenticides from the agricultural sector, as rodents cause significant damage to crops and other agricultural products.
Additionally, the increase in urbanization and industrialization has led to the growth of rodent populations in urban areas, leading to an increase in demand for rodenticides in the urban pest control segment. The rise in awareness about rodent-borne diseases and the need for pest control measures has also contributed to the growth of the market.
Moreover, the growing demand for organic and eco-friendly rodenticides has led to the development of new products with lower toxicity levels, leading to increased consumer demand. However, the availability of alternative pest control methods such as traps, baits, and natural predators is expected to restrain the growth of the market to some extent.
Geographically, the Asia-Pacific region is expected to dominate the rodenticides market due to the growing agricultural sector in the region and the increase in urbanization leading to higher rodent populations. North America and Europe are also expected to witness significant growth due to the increasing demand for pest control measures in urban and industrial areas.
Key players in the rodenticides market include BASF SE, Bayer AG, Syngenta AG, UPL Ltd., Neogen Corporation, Liphatech Inc., PelGar International, Rentokil Initial plc, and SenesTech Inc. These companies are investing in research and development to develop new and innovative products to meet the growing demand for eco-friendly and effective rodenticides.