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Rodenticides Market size is estimated to reach US$7.2 billion by 2027, after growing at a CAGR of 5.9% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- The Rodenticides Market size is estimated to reach US$7.2 billion by 2027, after growing at a CAGR of 5.9% during the forecast period 2022-2027. Rodenticides are chemicals utilized for the purpose of eradicating rodents. Rodenticides are also known as rat poison, some of them are lethal after one exposure while others are needed for more than one. Rodenticides such as anticoagulants in the form of bromadiolone, chlorophacinone, difethialone, brodifacoum and warfarin stop the functioning of the central nervous system cells from generating energy. The growing demand for medicinal plants for herbal medicine at the global level is on the rise, which is also driving the growth of the rodenticides industry. Additionally, the growing organic food industry is focussing on increasing organic food crops, by utilizing rodenticides and other chemicals for protecting and increasing the crop’s yield. Owing to such factors, the demand for rodenticides is expected to grow significantly over the forecast period. The economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for construction activities and for agricultural crops such as plantation and floriculture, all across the world, which had a significant impact on the growth of the Rodenticides Market size.

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Key takeaways:

This IndustryARC report on the Rodenticides market highlights the following areas -

1. The North-America region dominates the Rodenticides Market owing to the rising growth in the commercial sector. For instance, according to the Government of Canada, in 2021, the Government of Ontario announced an investment of up to US$41.8 million for the construction of the new Grey Bruce Health Services Markdale Hospital.

2. Rapidly rising demand for Rodenticides in the agriculture sector to protect crops from rodents such as rats, mice, nutria and others has driven the growth of the Rodenticides Market.

3. The increasing demand for Rodenticides in the residential construction industry, due to their usage as a protective method against rodents, has been a critical factor driving the growth of the Rodenticides Market in the upcoming years.

4. The rise in the resistance to conventional rodenticides can hinder the growth of the Rodenticides Market.

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Segmental Analysis:

1. Rodenticides Market Segment Analysis – by Type : The anticoagulants segment held the largest Rodenticides Market share in 2021 and is estimated to grow at a CAGR of 5.7% during the forecast period 2022-2027. There are various active ingredients known as rodenticides such as anticoagulants and can be grouped together according to their pattern of work. Anticoagulants are rodenticides that stop normal blood clotting.

2. Rodenticides Market Segment Analysis – by End-use Industry : The commercial segment held the largest Rodenticides Market share in 2021 and is estimated to grow at a CAGR of 6.2% during the forecast period 2022-2027. Rodenticides are majorly used for controlling or killing rodents through repulsion, exclusion and chemical removal methods. Growing economic activities and zero tolerance for rodents in commercial buildings such as hospitals, offices and food service sectors, are surging the demand for rodenticides.

3. Rodenticides Market Segment Analysis – by Geography : North-America region held the largest Rodenticides market share in 2021 up to 39%, due to the increasing requirement for rodenticides in the region Canada is expected to continue its dominance in the Rodenticides Market due to the growth of the organic food industry in the country.

Competitive landscape:

The top 5 players in the Rodenticides industry are:

1. BASF SE
2. Bayer AG
3. Syngenta AG
4. UPL Limited
5. Neogen Corporation.

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