Global Anticoagulant Rodenticides Market - 2022-2029

Global Anticoagulant Rodenticides Market - 2022-2029

Market Overview

Anticoagulant Rodenticides Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Anticoagulant rodenticides are used for rodent control, allowing secondary exposure and poisonings in no target predatory wildlife species, such as birds of prey that mainly feed on rodents or small birds. Anticoagulant rodenticide poisoning occurs when someone swallows a product containing these chemicals. Anticoagulant pesticides are used in agricultural and urban rodent control. Anticoagulant rodenticides are classified as first-generation or second-generation. First-generation anticoagulants are relatively rapidly excreted and may only be effective against vertebrate pests if they consume the rodenticide several times. Second-generation anticoagulant rodenticides have a substantially longer half-life in the body and are more likely to be effective after only one feeding. First-generation anticoagulants include warfarin, dicoumarol, pindone, and coumatetralyl. Second-generation anticoagulants include brodifacoum, bromadiolone, flocoumafen, and difethialone. A rising rodent population, increasing frequency of diseases related to rodents, and increased demand for rodent control are some of the factors driving the market growth.

Market Dynamics: Increasing damage caused by rodents drives the growth of anticoagulant rodenticides

The increasing prevalence of pest-related diseases, the growth of the rodent population, the escalating need for pest control, and the availability of natural rodenticides are the major factors further expected to propel the growth of the anticoagulant rodenticides market. Globally more than 20% of food is damaged by rodents. Rodents do food contamination. They contaminate 10 times of food that they eat. So, the greatest loss is not what rodents eat, but their contamination. They cause physical damage to the home, building and other structures. The increasing food losses due to rodents are anticipated to boost the demand for anticoagulant rodenticides in the market.

Rodents consume grass, seeds, grains, plants, and fruits, among other things. They make a loss to agriculture by spoiling grains, seeds and plants. So increased need for rodent management, the incidence-related illness, and expanding rodent population are expected to increase the demand for the global anticoagulant rodenticides market. The market has become significantly competitive due to the growing demand for rodent control products from key industries such as agriculture, pest management, and home. Also, the increasing global concerns regarding food safety led to higher demand for the surged agriculture yield and effective with fewer yield losses. Rodents are one of the loss-making animals, so there is increased demand for anticoagulant rodenticides.

Market Segmentation: Pellets segment accounted for the highest share in global anticoagulant rodenticides market

In 2021, the pellets segment had the highest revenue share of over XX percent. Pellets are a mixture of rodenticides with food bite, which is crushed into small pellets attractive to rodents. Pellets are cost-effective as compared to other forms. The blocks segment is expected to contributed for a significant market revenue share in the global anticoagulant rodenticides market. This share can be due to their capacity to withstand shifting climate conditions, making them excellent for outdoor use.

The 1st generation anticoagulant rodenticides market segment accounted high share in the market. The demand is increasing due to its capacity to break down faster than 2nd generation anticoagulant rodenticides. The future market expansion of first and second-generation rodenticides, both quantity and income, is strongly related to consumer awareness of good manufacturing practices and government regulations.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of almost XX percent. The presence of pests raises public health concerns, and data show that about 14 million of the approximately 124 million occupied housing units in the United States reported seeing roaches in their homes during the last 12 months. Also, nearly 14.8 million reported seeing rodents. In 2020, Chicago was the most rodent-affected city in the U.S. Norway rats are one of the most common species in Chicago and across the U.S.A.

The Asia Pacific is also the fastest-growing region in the forecast period. Agriculture is the most significant revenue-generating sector in the largest economies of the Asia Pacific, such as China and India. The growing population in the region is urging growers to provide a maximum yield to fulfill the region's food demand. Also, the rodent population is increasing in major countries like China and Japan. Sales of anticoagulant rodenticides increase to control the population of rodents.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are BASF SE, Bayer, Syngenta, UPL, Liphatech Inc, JT Eaton, Neogen Corporation. Some of the major key players launched new products in the market. For instance, in November 2019, BASF launched a new farm rodenticide named Storm Ultra secure. The product contains 25 parts per million of the active substance flocoumafen and is available in various sizes to professional users, farmers, and the general public. Also, in May 2018, BASF launched selontra rodent bait that provides fast colony kill in as few as seven days. Selontra rodent bait gives pest control and farm operators a fast, efficient and effective baiting system that helps them to take on the toughest infestations.

COVID-19 Impact: Positive impact on the global anticoagulant rodenticides market

The outbreak of covid-19 has severely impacted the functioning of several businesses majorly owing to the financial crisis and supply chain disruptions. Since various hygiene and sanitation measures were implemented during COVID-19 to contain the spread of coronavirus, this has led to a positive impact on the rodenticide market and hence the demand for rodent control products and services has witnessed a stable growth. Nowadays, people have become health conscious and getting rid of pests such as rodents has become priority. In addition, various businesses such as hotels, restaurants, commercial and industrial places were shut during the pandemic owing to which rodents have become a major issue. As these rodents infest your food, property and cause damage to the buildings, demand for pest control services was high during the pandemic. These aspects have led to positive impact on anticoagulant rodenticides market size during the Covid-19 pandemic.

The global anticoagulant rodenticides market report would provide an access to approximately 61 market data tables, 54 figures and 170 pages