A Future Markets Insights (FMI) recently published study has reported an anticipated growth in the pest control market in the next five years.Their study found that this potential growth is due to an increased need for pest control services on a global level and a surge in health related concerns in connection to pests.
The purpose of this study was to examine the past and current pest control services industry and provide an analysis of its current state. This analysis provided an deeper understanding of the need and popularity of these services and was used to hypothesis growth for the industry for future with a particular focus on the next five years.
This study took a global approach and included regional analysis of pest control in North America, Latin America, Europe, Japan, Africa and the Middle East. The analysis for the report came from reviewing and studying the pest control market in terms of market segments, market size and market dynamics, the global and regional supply and demand levels for these services, the industry’s competitive atmosphere and the companies that are currently involved, technology used, and current trends and challenges.
The study found that on a global scale the pest control industry will be directed by a larger target on the commercial and residential markets, an increased focus on health and safety relating to pests, and a heightened demand for environmentally friendly products and new technologies. In terms of residential consumption, these factors are due to that fact that customers are becoming more attracted to using environmentally friendly products and using products that are overall healthier.
On a commercial level more governments, globally, are creating regulations to maintain health and safety that would aid the expansion of pest control. Through a competitive analysis, the report also argued that stiff competition, variation in pricing, customization and different products in the future will contribute to growth as well.
Overall, this research and report provides an in-depth and extensive assessment of the pest control industry and makes thoughtful hypotheses and predictions for the future.