The global anticoagulant rodenticides market size is expected to be worth £622.7 million by 2028, according to a new report from Grand View Research, Inc.
The market is expected to expand at a CAGR of 3.3% from 2021 to 2028 , with the growth coming from rising demand for rodent control products to control the growing rodent population and efforts to prevent diseases caused by them.
The 105-page market research states the future growth of first and second generation anticoagulant rodenticides, both in terms of volume and value, is highly dependent on the awareness among consumers regarding the safety of the products and government regulations.
Grand View Research, Inc, said: “The demand pattern for these products for various end-use applications is highly dependent on the regional regulations imposed by the government considering the toxicity as well as efficiencies.
“As the global supply of staples such as wheat, rice, and coarse grains has been on the rise, it is expected to result in increased consumption of the product across the world over the forecast period.”
The company added: “Shut down of warehouses consisting of food products, electronic goods, and others along with disruptions in production and sales of rodent control products amid COVID-19 lockdown resulted in serious economic losses.
“However, a complete recovery of the market was expected by the end of the fourth quarter of 2021, and the stabilisation of the global industrial sector will also reflect an increasing demand for rodent control products.”