Exterminating and Pest Control Services

Exterminating and Pest Control Services Global Market Outlook

• The global pest control service market is estimated to be $32.81 billion in 2022*, growing at a CAGR of close to 7–8 percent between 2023 and 2027

• The market is expected to grow to $38.73 billion by 2027

• Emerging regions, including the US market, are highly matured, in terms of the buyer as well as supplier maturity

• Industry has a high retention rate (Tier-1 players have an average client retentions rate of about 98 percent)

Global Pest Control Services Industry Trends

• The pest control industry has matured in tandem with other FM services in developed markets, such as Europe and the US

• In developing regions, the trends related to outsourcing and value-based approaches are emerging steadily. They will gain further strong foothold. The increasing need to create a safer work environment, due to outbreaks of several diseases and viruses, along with adhering to the environmental and regulatory compliances is further expected to propel the market growth

• The Pest Control industry has matured in tandem with other FM services in developed markets, such as APAC and parts of Middle East. Sustainability has become a major concentrating point in both developed and developing countries

• In developing regions, the trends related to outsourcing and value-based approaches are still in an emerging stage and yet to reach its due prominence. They are expected to gain strong foothold

Drivers and Constraints : Exterminating and Pest Control Services

Drivers

Increase in urbanization with the exponential growth of population

• The pest control market is witnessing significant growth globally, due to the rise in economic activity. The increase in urbanization and population gives rise to garbage generation and concentration as well as trade and travel. These are some of the factors that facilitate to the spread of pests and are considered as the primary factor that drives the growth of the pest control market

Economic Development

• Strong economic development across developing nations, such as India, China, UAE, etc., has resulted in the development of large commercial office space and strong demand for opting pest control services

Growth of Commercial Sector and Climatic Change

• High rates of urbanization with increased construction activities for high-rise commercial as well as residential spaces, office spaces, retail stores, etc. Growing focus on Green Buildings and Energy Savings and focusing on sustainable building solutions

• Some changes in climate have led to an increase in pests, and thereby, increasing the growth of the market

Constraints

High Cost of Implementation & Expensive Products

• High costs associated with utilities, equipment, as the available technology is improving and cost incurred for making green pest control products are increasing, considering the health & safety of people as well as the environment

Mobile Workforce​

• Pest control services are negatively affected by increasingly mobile workforces. More and more companies are allowing employees to work from home or other off-site locations, and fewer employees on-site reduce the amount of demand for pest control services