About the Report
The global termite bait products market is projected to expand at a CAGR of around 5% over the forecast period of 2021 to 2031. Solutions to get rid of subterranean termites will remain most sought-after over the coming years.
Termites damage property worth billions of dollars each year, and to lessen this impact, industries seek termite bait products that can bait these pests and help prevent reduce losses. The need for termite treatment provides lucrative opportunities for termite bait product manufacturers and the complete value chain.
Foremost objective of the new report by Fact.MR on the termite bait systems and products market is to pitch insights on the market scenario, demand generators, and technological advancements in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends and pricing analysis, along with key success factors. Market trends have been tracked in 20+ high-growth countries, pointing towards countries in North America, Europe, and East Asia holding bulk of the market share.
Historical Trends Vs. Future Market Projections
From 2016 to 2020, termite bait product sales have been on a steady rise. As termites continue to damage many properties across the globe, demand for termite bait products is always increasing.
In FY2020, the market dipped because of the global COVID-19 pandemic, as in many countries, governments declared lockdowns and production was held up. But with ease in lockdowns and reopening of production sites, the market for termite bait products will see a resurgence over the coming months and years.
Forecast assessment is done by breaking down the period into three assessable periods, i.e., Short-run, medium-run, and long-run.
- Short run:- Due to COVID-19, the market was affected, but with ease in lockdowns along with more industries buying termite bait products, it is predicted that demand will rise again.
- Medium run: - To minimize damage done to their properties by termites, it is predicted that industries will spend more on termite bait products over the coming years.
- Long run:- Economic cycles, inflation rate, substitutes, and regional demand and supply chain for termite bait products to impact overall market, which has been discussed in detail in the recently published report by Fact.MR.
All in all, the global termite bait products market is projected to advance at a decent CAGR of around 5% during the assessment period (2021-2031).
Know More Details About the Report
Which Countries are Big Markets for Termite Bait Products?
Asian countries such as India and China are becoming huge markets for termite bait products. Termites are regarded are one of the most destructive pests in the continent. According to a recent study, it has been found that, termites destroy or damage around US$ 80 billion worth of properties in China alone.
In India as well, termites cause a lot of damage in wood industries, and also damage many crops as well. To prevent this, many industries and individuals in these Asian countries are spending huge on termite bait products.
Why is the United States a Leading Market for Termite Bait Products?
The United States of America is the biggest market for termite bait products. The country has one of the biggest wooden industries in the world, and most residential houses are made from wood. Each year, termites destroy or affect billions of dollars of property in the country, and subsequently, consumers spend on high termite-based products.
Demand for termite bait products is also high in the country because of increasing awareness regarding the harmful effects of chemical products that were being used to tackle termites.
What types of Termites are There and what are the Baits Used to Trap Them?
There are generally three types of termites found - subterranean, dampwood, and Drywood. These termites usually feed on dead plant materials in the form of wood, and they can damage wooden properties and structures.
There are two methods to trap termites - one is by using bait devices in which a bait, generally a wood piece or a paper, is placed inside these devices and they are used to trap termites. The other way to get rid of termites is by using liquid eradication methods. In these, chemicals are used to prevent termites from destroying wooden structures or properties.
Which Stations are Termite Bait Products Used At?
Two kinds of stations are used in termite bait products – in-ground stations and above-ground stations. Bait stations can provide an effective, long-term solution for termiteissues.
In-ground termite stations, as the name suggests, are termite bait stations inserted into holes in the ground, with the cover flush with the soil surface. These stations are usually inserted 2-3 feet from the site.
In these stations, baits such as small wood pieces or small pieces of paper are used, and this attracts the termites, traps them, and prevents them from destroying the property.
Above-ground termite stations are placed above the ground. When the bait station is installed, it can control subterranean termite colonies. These bait stations have a small amount of insecticides, and they are placed at very specific locations. They are very easy to install and can help protect houses and other properties from being damaged by termites.
What are the Main Applications of Termite Bait Products?
Termite bait products has vast application in various fields, but are usually used for commercial & industrial, residential and agriculture, and livestock fields. In commercial and industrial places, main termite bait stations are installed to protect them from termites. In residential places, especially in places where houses are made from wood, termite bait products such as liquid eradication methods are used. In agriculture and livestock fields, termite bait products are used to save crops from the termites.
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Aforementioned players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, introduction of new products, partnerships, acquisitions, and strengthening of regional and global distribution networks.
Similarly, recent developments related to companies manufacturing termite bait products have been tracked by the team at Fact.MR, which is available in the full report.
An Adaptive Approach to Modern-day Research Needs
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Available upon Request
Key Market Segments Covered
- Subterranean Termite Bait Products
- Dampwood Termite Bait Products
- Drywood Termite Bait Products
- Termite Bait Devices
- Liquid Eradication Method for Termites
- In-ground Termite Bait Products
- Above-ground Termite Bait Products
- Commercial & Industrial Termite Bait Products & Systems
- Residential Termite Bait Products & Systems
- Termite Bait Products & Systems for Agricultural & Livestock Fields
- Termite Bait Products through Online Channels
- Termite Bait Products through Offline Channels
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Termite Bait Products Market- Scope of Report
A recent study by Fact.MR on the termite bait products market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of termite bait products.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing termite bait products, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation and sales of termite bait products across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of termite bait products during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for termite bait products are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.
Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global termite bait products industry.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the termite bait products market during the forecast period.
Country-specific valuation on demand for termite bait products has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of termite bait products, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of termite bait products has been brought with the help of a detailed dashboard view.
Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.