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(MoneyNewsWire.Net, February 01, 2018 ) Global Rodenticides Market was worth USD 0.95 billion in 2017 and is projected to be growing at a CAGR of 3.9%, to touch USD 1.21 billion by 2022. Rodenticides are extensively used in agricultural fields, green houses 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 global 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.
Rising demand for pesticides due to growing agriculture sector is expected to drive the market over the next seven years. Food demand has been steadily increasing over the past few years on account of population growth in Africa, Asia and Latin America. This trend is expected to further drive the global rodenticides market over the forecast period. Rising awareness amongst farmers and horticulturists concerning adverse effects of rodents on crops and developing farming techniques are predicted to further supplement the global market growth. Strict regulations by governmental agencies over rodenticides usage and resulting soil contamination is further likely to challenge the global market. Toxicity of rodenticides on humans and animals has been a key factor restraining the growth of the market.
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The Global Rodenticides market is segmented based on Type, Mode of Application, and End User. The market for Rodenticides, on the basis of Type is segmented into Non-Anticoagulant and Anticoagulant. On the basis of Mode of Application, the Global Rodenticides Market is segmented into Pellets, Powders and Sprays. On the basis of End Use it is segmented into Agricultural Fields, Urban Centres, Warehouses, Pest Control Companies and Household Consumers. The non-anticoagulant rodenticides segment is projected to grow at the highest CAGR from 2016 to 2022. These rodenticides are referred to as acute toxicants. The metabolic poisons include fluoroacetamide, bromethalin and fluoroacetate, that lead to paralysis and convulsions in rodents before death. These are more efficient in controlling the rodent infestation.
The Rodenticides Market has been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America trailed by Asia Pacific, is the major market for rodenticides. North America accounts as a major producer and exporter of corn among others, the rodenticides requirement to protect corn is expected to drive the market in the region. There is high-growth prospective for rodenticide products in the Asia-Pacific region. This region has emerging economies, such as China and India, which have considerable cultivable land to grow crops. Furthermore, China is the second-largest country to hold major share in the rodenticides market because of the technological growth and urbanization of agriculture.
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The significant companies are aggressively pursuing supply contracts to expand consumer reach and increase market presence. Companies such as Syngenta, BASF and Bayer Crop Science have been involved in R&D to develop non-toxic rodenticides. The above is expected to open new possibilities to market participants and provide them with competitive gain. Some key players operating in the global 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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