Termite Bait Systems Market Forecasts to 2028 – Global Analysis By Station (Above-Ground, In-Ground), Termite Type (Drywood Termites, Subterranean Termites) and By Geography

Termite Bait Systems Market Forecasts to 2028 – Global Analysis By Station (Above-Ground, In-Ground), Termite Type (Drywood Termites, Subterranean Termites) and By Geography

According to Stratistics MRC, the Global Termite Bait Systems Market is accounted for $ 291.56 million in 2022 and is expected to reach $457.81 million by 2028 growing at a CAGR of 7.8% during the forecast period. A termite is a kind of insect that spoils property, particularly wood and wooden structures. Baits are a vital tool for termite control and prevention programs. A standard termite treatment in home areas is done with a topsoil-applied liquid termiticide. A termite bait system is a type of full termite control kit. It is used for the long term. For finest results, termite baits systems need suitable protection and monitoring. The rising commercial and industrial construction activities have led to an augmented demand for termite control services.

Termites damage roughly 600,000 homes every year in the United States. In the US, EPA’s Office of Pesticide Programs provides information and tools to federal, state, local agencies and the public on termite control. Its rigorous pesticide review process is designed to ensure that registered termiticides used according to label directions and precautions can effectively treat termite infestations with minimal risk.

Market Dynamics:

Driver:

Ecologically safe and suitable application process

There are diverse techniques employed for controlling termite population, such as liquid chemical barriers and baiting stations. Liquid chemical barriers such as repellents are used to create a barrier around and under the buildings to block potential routes of termite entry. Though, this method has certain drawbacks, as the barriers can be moved, replaced, or disturbed by pets and children or by adding a new garden bed. These drawbacks are noticed especially in developed countries with low population density and high household area per family. Additionally, the direct application of chemical to the soil is toxic to animal and human health, located in the surrounding area. Thus, it has been a reason for homeowners to prefer bait stations, which are safer to humans and pets.

Restraint:

High cost

In case of bait systems, the cost of installation and bait components is considered along with the cost of the active ingredient. Hence, baiting systems are more expensive as compared to conventional chemical treatments. Furthermore, baiting systems require multiple visits to the structure to monitor termite presence and assess in case any additional baits are needed.

Opportunity:

Changing climatic conditions increase the need to prevent termite attack

Termites are mostly found in subtropical provinces of almost all continents. The changing climatic conditions are of importance for termite control as global warming leads to change in the population dynamics of termites and their ecosystems as they are found prominently in warmer climates. Warmer temperatures associated with climate changes affect the distribution and infestation of termite. Due to climate change, the termite population is predictable to move quickly from mid to high latitudes with higher chances of survival rate. To control the risks of termite infestation, bait systems are expected to provide long-term protection in and around homes, without being affected by the changing climatic conditions such as heavy rainfall or high summer temperatures.

Threat:

Lack of consciousness & low acceptance rate

Awareness about termite bait systems is low in developing provinces such as Asia and Sub-Saharan Africa. Homeowners are less aware about the welfares of termite bait systems, and they are accustomed to the methods of usage of chemical liquid barriers, which helps in immediate knockdown of termites. The main reason for the low adoption rate of termite baits in these developing provinces is the established market for chemical termiticides, which are less expensive as compared to baits.

Covid-19 Impact

The COVID-19 outbreak had affected the global economy adversely. In order to control the spread of the virus, regional governments had implemented the restriction on movements of individuals in commercial areas. The termite baiting products require an active service team to monitor and replace the baits at regular intervals. The pandemic outbreak has resulted in disruption in numerous business sectors like construction and real estate, thus impacting the demand for termite bait products temporarily. On the other hand, COVID-19 also accelerated the adoption of e-commerce platforms thus, driving the trend of placing orders through digital platforms, which is likely to re-shape the market.

The subterranean termites segment is expected to be the largest during the forecast period

The subterranean termites segment is expected to be the largest during the forecast period Subterranean termites are the most predominant termites as related to other termite types. These termites cause major property damage, globally. Use of in-ground termite bait stations is one of the most common methods, particularly in the developed countries where there are restrictions in using numerous toxic termiticides. Additionally, rapid urbanization is one of the major factors for the increasing prevalence of subterranean termites.

The In-Ground segment is expected to have the highest CAGR during the forecast period

The In-Ground segment is expected to have the highest CAGR during the forecast period; the accessibility in the practice of these products is a main reason supporting the acceptance of in-ground bait stations among consumers. The main function of the in-ground station is to monitor & control the termite activities under the ground. As, subterranean termites in large quantities found termites, which operate underground, Therefore to control these termites consumers choose in-ground stations, so boosting the termite bait system products market for in-ground termite stations.

Region with highest share:

North America is projected to hold the largest market share during the forecast period, owing to the easy access to latest technologies along with the rise in the affordability and higher levels of discretionary income. Moreover, the presence of subterranean termites that are the most common type of termite in North America will fuel the demand for termite bait products. These termites tend to stay in tunnels built underground, can easily avoid detection, and can go about destroying wood undisturbed and cause of total damage. Therefore, in order to protect wood, the demand for innovative termite bait products keeps growing. Additionally, development in technologies and growing environmental awareness trends, led by consumers are encouraging manufacturers to provide with safe and chemical free termite bait products.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the thriving infrastructure activities, rapid development and the need to meet the demands of a growing urban population in this province. As a result, the demand for this system is expectable to enlarge momentum in this province in the upcoming years. Moreover, the need to meet the strains of a rising urban population in the region. Growth in the industrial, commercial and residential sectors is predictable to boost cases of termite infestations in the Asia Pacific. So, the demand for the termite bait system products is predictable to improvement momentum in the province in the forecast period.

Key players in the market

Some of the key players profiled in the Termite Bait Systems Market include Rollins, BASF, Bayer AG, Sumitomo Chemical Co., Ltd., Syngenta, Spectrum Brands, Inc, Ensystex, PCT International, Rentokil Initial Plc, The Terminix International Company LP, Arrow Exterminators, Inc.

Key Developments:

In January 2018: Arrow Exterminators acquired Moore’s Premium Termite and Pest Control LLC (US). This acquisition would facilitate Arrow’s ability to grow and serve more residential and commercial customers with a full line of services in Georgetown, South Carolina.

In January 2018: Orkin, a wholly owned subsidiary of Rollins, BASF, Bayer AG, Sumitomo Chemical Co., Ltd., Syngenta, Spectrum Brands, Inc., Ensystex, PCT International, Rentokil Initial Plc, Rollins, Inc., The Terminix International Company LP and Arrow Exterminators, Inc.

Distribution Channels Covered:
• Online Channel
• Offline Channel

Types Covered:
• Services
• Software

Stations Covered:
• Above-Ground
• In-Ground

Termite Types Covered:
• Drywood Termites
• Subterranean Termites
• Dampwood Termites
• Other Termite Types

Applications Covered:
• Agriculture & Livestock Farms
• Commercial & Industrial
• Residential
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements