Market Trends of Rodenticides Industry
This section covers the major market trends shaping the Rodenticides Market according to our research experts:
Stringent Regulations and Government Ban Restraining the Market
Several stringent regulations and subsequent recommendations for a ban on rodenticides have impacted the overall market in recent years. Empirical studies have proven that anticoagulants are the leading cause of deaths of birds of prey and other scavenger species when they eat their poisoned carcasses. Moreover, humans are also posed with intoxication risks due to rodenticide exposure. The United States Environment Protection Agency (EPA) restricted the sale of the second-generation long-acting anticoagulant (LAA) rodenticides such as Brodifacoum and Bromadiolone, in 2013. The AB 1788 Bill was also supposed to ban the second-generation anticoagulant rodenticides (SGARs) in California on account of non-target wildlife poisoning but was pulled away from the Senate Appropriations Committee in August 2019. Moreover, the Biocidal Products Regulation (BPR) of the European Union affects most rodenticides across the region which has further given rise to the Rodenticides Stewardship Regime to be followed by the rodenticide companies and pest controllers. According to the Office for National Statistics (UK) and HM Revenue and Customs, the total export value of rodenticides and molluscicides from EU and non-EU markets in the United Kingdom fell significantly from USD 43.6 million in 2013 to USD 4.7 million in 2018. As such, these factors are expected to affect the demand-supply ratio and prices of rodenticides for agricultural purposes, thus, restraining the growth of the market, during the forecast period.
Asia-Pacific - The Fastest Growing Market
Asia-Pacific registered the fastest growth in the rodenticide market, globally. The frequency of rodent attacks on agricultural fields has been immense in developing countries across the region. According to the International Rice Research Institute (IRRI), rats and mice are estimated to damage 3%-5% of the total cereal crops in developing countries. In 2015, entomologists revealed that up to 54% of the paddy crops were being lost due to rat infestation in Chellampatti and its neighboring areas in Tamil Nadu, one of the largest rice-producing states in India. Moreover, according to a report by the Indian Ministry of Consumer Affairs, about 57,676 metric tons of foodgrains stored in Food Corporation of India (FCI) godowns were damaged due to pest and rodent attacks, leakage of godowns, and exposure to rain and floods, among other reasons. In 2018, Tokyo's Tsukiji fish market with 480 kinds of seafood and 270 types of fruit and vegetable businesses closed down and relocated due to massive rat infestation. As such, the demand for rodenticides in the region is expected to grow during the forecast period.
