The global insect pest control market size is estimated to be valued at USD 12.3 billion in 2021 and is projected to reach USD 15.8 billion by 2026, recording a CAGR of 5.1% during the forecast period. The demand for insect pest control is propelling, owing to several innovations and developments in technologies and formulations. Insect pest control products are increasingly applied in commercial and residential areas, which is expected to boost the growth of this market in the coming years. Regulatory changes such as environmental protection laws and changing government policies across diverse regions are some of the significant factors posing a challenge for product manufacturers and service providers.
Key players are investing in various R&D initiatives globally, which has led to the development of different types of algae that find application in various applications, thus increasing the total demand for insect pest control.
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The key players in this market include BASF (Germany), Bayer (Germany), FMC Corporation (US), Syngenta (Switzerland), Sumitomo Chemical Co., Ltd. (Japan), Rentokil Initial Group (UK), Ecolab (US), Rollins, Inc. (US), Terminix (US), and Adama (Israel).
BASF is a diversified chemical company managing its business through seven segments—surface technologies, materials, chemicals, agricultural solutions, industrial solutions, nutrition & care, and others. BASF agricultural solutions segment includes farming & crop protection, turf & ornamental, and urban & rural pest control. Insect pest control products are offered under the agricultural solutions segment. Its product portfolio comprises a wide range of products that cater to commercial & industrial as well as residential applications. The company offers insect pest control products that are effective in eradicating a variety of pests including bedbugs, termites, mosquitoes, flies, cockroaches, and ants.
Syngenta operates through two business segments, namely, crop protection and seeds. It offers insect control products through its crop protection segment. It developed innovative products in agriculture through the precise use of biotechnology for increasing crop yield and reducing losses due to insects, globally. The company markets its products in over 90 countries across the globe.
Insect Pest Control Market by Insect Type (Termites, Cockroaches, Bedbugs, Mosquitoes, Flies, & Ants), Control Method (Chemical, Biological, & Physical), Application, Form (Dry and Liquid), and Region - Global Forecast to 2026
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