Analysis of Termite Bait Products Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global termite bait products market is valued to be US$ 1.3 billion in 2023 and it is anticipated to grow at a CAGR of 4.9% to reach US$ 2.1 billion by the end of 2033.
Termite bait products have evolved significantly in recent years, and many pest control companies are using baits to treat them instead of traditional insecticide sprays. Additionally, the increasing use of termite bait products in agricultural and livestock fields drives the sales of the products.
Termite Bait Products Market Size (2022A)
US$ 1.2 Billion
Estimated Market Value (2023E)
US$ 1.3 Billion
Forecasted Market Value (2033F)
US$ 2.1 Billion
Global Market Growth Rate (2023-2033)
Key Companies Profiled
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Termites are a group of insects that feeds on wood, crops, grass, cotton, and other plant-based products. Termites are known to cause economic losses by destroying crops, buildings, and businesses. Termite damages around one of every five houses in Australia which are anything between 130,000 to 180,000 houses being infested by termites every year.
Termite baits contain cellulose (a structural component of wood), combined with a slow-acting insecticide that interrupts the common development method in termites. The termite baiting systems are easy to install. Sales of termite bait products are on the rise due to increased personal health concerns and increased demand for a safe environment. Further, demand for products with organic ingredients is expected to grow.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.9% CAGR between 2023 and 2033.
“Rise in Commercial & Industrial Sector to Drive Termite Bait Products Market”
Termite bait products have a wide range of applications in various fields, but typically termite bait products are widely used in commercial and industrial, domestic, agricultural, and animal husbandry. Termite bait stations are mainly installed in commercial and industrial areas to protect against termites. Bait products such as liquid control methods are used in residential areas, especially where houses have been built from timber. Termite bait products are used in agriculture and ranching to protect crops from termite damage.
The occurrence of termites causes huge losses to furniture in the real state every year. This creates the need for termite bait products to save billions of dollars’ worth of products from such losses. Termite treatment trends present opportunities for stakeholders in the value chain of termite bait products. This trend is becoming more and more evident in both the commercial and private sectors.
The world population is rising rapidly. As a result, the need for hospitality, infrastructure, and housing has increased significantly. Termites are adapting to developing metropolitan areas due to their increased resistance to chemicals. This has increased the demand for termite bait products.
Demand for termite bait products is increasing as research and development (R&D) spending aggressively increases to create better long-term solutions. In addition, changing consumer attitudes towards solutions that are safe for the environment and surroundings could drive market expansion for termite bait products.
“Factors Affecting Market Growth”
The major factors hindering market expansion are the high initial investment, contract renewal costs, and lack of awareness of termite bait products. Therefore, bait systems are more expensive than traditional chemical treatments.
The effects of the termite bait products are time-consuming and it requires an active service team to monitor and replace the baits at regular intervals. Additionally, bait systems require multiple visits to monitor for termites. These several factors impede the market growth
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Asian countries such as China are becoming huge markets for termite bait products. Termites are considered one of the continent's most destructive pests. A current study found that termites have destroyed or damaged nearly US$ 80 billion value of property in China alone.
The presence of high humidity and a tropical environment in this particular region favors the growth of the termite. To prevent this, many industries and individuals in China spend large sums of money on termite bait products.
The United States is the largest market for termite bait products. The country has the largest timber industry in the world and most of the houses are made of timber. Each year, termites destroy or degrade billions of dollars of property across the country, resulting in consumers spending money on termite bait products.
Demand for termite bait products is growing in the country due to rising awareness regarding the harmful effects of chemicals that have been used to control termite growth.
Termite bait products have vast applications in various fields but are usually used for commercial and industrial purposes. With the growing commercial and industrial sector across the globe, saving wooden-based property from being damaged drives the demand for termite bait products in the upcoming year.
It is expected that with the rise in technology, the commercial and industrial segment will create a lucrative opportunity for the market to grow in the upcoming year.
A bait station provides an effective, long-term solution to the termite problem. An underground termite bait station is inserted into a hole in the ground so that the cover is level with the ground. These stations are typically inserted two to three feet from the site.
These stations use baits such as small pieces of wood or paper that attract termites to trap them and prevent them from destroying property. For instance, Subterranean termites live underground in cooperative, mixed colonies. A colony is a distributed unit that occupies multiple nesting and feeding grounds connected by underground channels. Termite colonies consisted of hundreds of thousands to millions of termites occupying an area.
Subterranean termites dig narrow, winding tunnels into the ground until they finally encounter their staple food, wood. Rotten tree roots, logs, tree stumps, tree piles, and plant debris provide a quick and abundant supply of food for the colony. Thus, preventing the losses caused by in-ground termites drives the sales of the product in the coming year.
Prominent termite bait products manufacturers are BASE SE, Bayer AG, Dow, DuPont, Ensystex, PCT International, Rentokil Initial PLC, Sbm Life Science Corp., Spectrum Brand INC., Sumitomo Chemicals Ltd., and Syngenta.
The manufacturers of termite bait products are stressing on intensifying their production and manufacturing capabilities, attributed to the increase in demand across commercial and residential areas.
The companies are adopting organic strategies to expand their product portfolios and investing huge amounts in research and development capabilities to increase the potential of termite bait products.
Fact.MR has provided detailed information about the price points of key manufacturers of termite bait products positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The termite bait products market size is estimated to reach US$ 2.1 billion in 2033.
The projected CAGR for the termite bait products market from 2023 to 2033 will be 4.9%.
Market players include BASE SE, Bayer AG, DowDuPont, Ensystex, PCT International, and Rentokil Initial PLC., which are majorly operating and dominating in the market.
Factors such as growing demand for termite bait products from the expanding construction industry mainly operating in wood and furniture segments are anticipated to increase the sales of termite bait products.
The global termite bait products market size reported by Fact.MR for 2022 was US$ 1.2 billion.
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