MarketResearch.biz announces publication of its most recently generated research report titled, “Europe Rodenticides Market by Product Type (Non-anticoagulants, Anticoagulants), Mode of Application (Pellets, Powder & Spray, Block), Application (Agricultural, Pest Control, Warehouses, Other Applications) and Country (Germany, UK, France, Italy, Spain, Russia, Rest of Europe) – Europe Forecast to 2031.”, which offers a holistic view of the Europe rodenticides market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2020–2024) is projected to be over US$ 8.2 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Rodents are mammals which are characterized by a single pair of continuously growing incisors in each of the upper and lower jaws, with approx. 40% of all mammal species being classified as rodents. Rodenticides are pesticides that are used to kill rodents such as, mice, rats, squirrels, prairie dogs, porcupines, beavers, guinea pigs, and hamsters, among others. Even if rodents do play a vital role in nature, however, at times it becomes necessary to control their populations as they can damage crops, violate housing codes, transmit diseases, and in some cases cause ecological damage as well.
Europe Rodenticides Market: Market Dynamics
Rodenticides are insecticides used to kill rodents, such as rats, mice, squirrels, chipmunks, etc. These rodents often cause crop damage, food contamination, disease transmission, and other economic losses. First, rodents cause a lot of food waste and violate housing laws around the world, leading to the spread of bacteria. Therefore, it has been found that rodenticide is one of the most effective methods to prevent such losses, and this factor is expected to drive the demand for rodenticide products worldwide. According to the European Biocidal Products Forum (EBPF), because rodenticides have a wide range of benefits, they are essential for protecting the health and well-being of humans and animals and protecting food stocks from consumption and contamination throughout the European Union. Caused by animals. The use of rodenticides in crop protection falls within the scope of the Plant Protection Products Regulation (PPPR). Moreover, it is said that after witnessing a steady increase in the number of rodents, it is necessary to consider rodenticides separately within the scope of the Biocidal Products Directive (BPD). It is expected that such government support factors in the European region will cause the expected revenue of the rodenticide market to surge.
Very few countries prohibit excessive use of rodenticides because they are harmful to humans, pets and other non-rodents, and affect the environment. Therefore, governments of various countries evaluate the policies related to the purchase, registration, formulation, application, and disposal of pesticides. These government policies will affect the demand and price of rodenticides. This factor is expected to reduce the market growth prospects of the European rodenticide market.
Major industry players, such as BASF SE, Rentokil Initial plc, etc., are investing in a large number of R&D activities aimed at developing and expanding their business within and outside their specific countries of operation. This also increases the use of rodenticides and other related products, thereby Have a positive impact on this market in the region.
Europe Rodenticides Market: Market Forecast
The comprehensive research report comprises a complete forecast of the Europe Rodenticides market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the Europe Rodenticides market is estimated to expand at a moderate CAGR of 4.5% during the forecast period.
Europe Rodenticides Market: Segmental Snapshot
The market report has been segmented on the basis of product type, mode of application, application, and country. The product type segment includes non-anticoagulants, anticoagulants. The mode of application segment includes pellets, powder & spray, block. Application segment includes agricultural, pest control, warehouses, other applications. The country covered in the analysis are Germany, UK, France, Italy, Spain, Russia, Rest of Europe
By product type: The anticoagulants segment is expected to register a CAGR of over 4.6%, thereby accounting for highest revenue share among the product type segments.
By mode of application: The pellets segment is expected to register a CAGR of over 4.9% over the forecast period, thereby accounting for highest revenue share among the mode of application segments.
By application: The pest control segment is expected to register a CAGR of over 4.9% over the forecast period, thereby accounting for highest revenue share among the application segments.
By country: The market in Germany accounted for highest revenue share in the Europe Rodenticides market in 2020, and is estimated to register a CAGR of over 5.3% between 2020 and 2031.
Europe Rodenticides Market: Competitive Analysis
The research report on the Europe Rodenticides market includes profiles of major companies such as BASF SE, Bayer AG, Syngenta Group, Rentokil Initial PLC, UPL Limited, Neogen Corporation, Bell Laboratories Inc, Liphatech Inc., PelGar International Ltd., Impex Europe SL.
The Europe Rodenticides Market: Europe Industry, Size, Share, Growth, Trends, and Forecast, 2020–2031 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Europe Rodenticides Market for 2020–2031.
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