Global rodenticides market is expected to witness significant growth on account of rising food grains demand coupled with increasing farmers concerns over food wastage due to rodents. Rodenticides are widely used in agricultural fields, green houses as well as warehouses. Growing agriculture sector in emerging nations such as India, China, and Brazil is anticipated to augment the market growth in the region. Growing demand to protect crops as well as food grains is expected to have a positive impact on the global market over the forecast period. Rodenticides also find application in pest control agencies. Rising demand for pesticides due to growing agriculture sector is expected to drive the market over the next seven years. Food demand has been consistently increasing over the past few years on account of population growth in Asia, Africa and Latin America. This trend is expected to further drive global rodenticides market over the forecast period. Increasing awareness among farmers and horticulturists regarding adverse effects of rodents on crops and evolving farming techniques are expected to further complement the global market growth. Toxicity of rodenticides on humans and animals has been a major factor restraining market growth. Stringent regulations by governmental agencies over rodenticides usage and consequent soil contamination is further expected to challenge the global market.
Rodenticides are classified by its type as anticoagulants, first-generation anticoagulants, second-generation anticoagulants, non-anticoagulants, and others such as non chemical and natural rodenticides. Increasing usage of these products based on its requirement is expected to drive rodenticides market globally in near future. Asia pacific is the major market of rodenticides owing to rising food grains demand and growing agriculture sector in the region. India and China are the major exporters of food grain. Growing food grain demand globally is expected to expand their storage capacity. This trend is expected to boost the rodenticides demand over the foreseeable future. North America trailed by Asia Pacific is the second major market for rodenticides. U.S. account for major producer and exporter of corn among others, to protect corn from rodent is expected to drive the market in the region. Agriculture sector in Brazil has been witnessing significant growth due to evolving farming technologies and rising GDP. This trend is expected to further complement Latin American market growth over the forecast period.
Some key players operating in the global market include BASF SE, Bayer CropScience, Impex Europa S.L., J.T. Eaton & Co., Liphatech, Neogen Corp., Pelgar International, Syngenta SA, and UPL Limited. Major companies have been actively pursuing supply agreements to increase their consumer reach and enhance their market presence. Companies such as BASF, Syngenta and Bayer CropScience have been involved in intense R&D to develop non-toxic rodenticides. This is expected to open new avenues to market participants and provide them with competitive advantage.
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