Global Bromadiolone Market Size to Grow USD 651.28 Million by 2030 | CAGR of 5.61%: Zion Market Research
According to Zion Market Research, the global bromadiolone market size is projected to reach USD 651.28 million by 2030 from its value of USD 412.38 million in 2022, at a CAGR of 5.61% during the forecast period.
NEW YORK, United States, July 24, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Bromadiolone Market – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global bromadiolone market size was worth at around USD 412.38 million in 2022. The market is expected to grow above a CAGR of 5.61% and is anticipated to reach over USD 651.28 million by 2030.
Bromadiolone Market Overview:
Bromadiolone is a rodenticide chemical compound and the market deals with the economic aspects surrounding the production and distribution of this chemical. It is an anticoagulant rodenticide and has extensive application in controlling rodent populations, especially mice and rats. Bromadiolone is categorized as a second-generation anticoagulant rodenticide and is widely known for its potency along with effectiveness in managing rodent infestations. The products containing bromadiolone are used across industries such as agriculture, food processing, residential areas, commercial spaces, and public health.
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|Report Attribute||Report Details|
|Market Size in 2022||USD 412.38 Million|
|Market Forecast in 2030||USD 651.28 Million|
|Growth Rate||CAGR of 5.61%|
|Forecast Years||2023- 2030|
|Key Companies Covered||Syngenta AG, BASF SE, Bayer AG, Rentokil Initial plc, Liphatech Inc., Neogen Corporation, PelGar International, Bell Laboratories Inc., JT Eaton & Co. Inc., Senestech Inc., UPL Limited, Impex Europa S.L., HACCP International, Ensystex Inc., LiphaTech SAS, Impex Europa Ltd., Senetek PLC, Unichem d.o.o., Pi Chi Industry Co. Ltd., Rat Sorb, Eagle Brand Holdings Ltd., J.T. Eaton & Co. Ltd., Precious Harbour Co. Ltd., Qingdao Hilda-Jingyi Trading Co. Ltd., and DODSON Pest Control.|
|Segments Covered||By Application, By Type, and By Region|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Key Insights from Primary Research
- As per the analysis, the bromadiolone market share is likely to grow above a CAGR of around 5.61% between 2023 and 2030.
- The Bromadiolone market size was worth around US$ 412.38 million in 2022 and is estimated to hit approximately US$ 651.28 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The bromadiolone market is projected to grow at a significant rate due to the growing rate of rodent infestation
- Based on application segmentation, pellets or bait blocks was predicted to show maximum market share in the year 2022
- Based on type segmentation, the solid was the leading type in 2022
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022
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Bromadiolone Market: Growth Factors
The global bromadiolone market is projected to grow due to the increasing awareness about the importance of maintaining hygienic surroundings, especially areas inhabited by humans. Rodents are known to be carriers of serious diseases and can pose health risks if infected rodents come in contact with humans. Some of the dreaded diseases caused by rats include Hantavirus, Hemorrhagic Fever with Renal Syndrome (HFRS), Lassa Fever, and Leptospira. Studies indicate that more than 35% of Hantavirus cases result in death and the associated symptoms are similar to influenza. In July 2022, around 17 cases of Hantavirus were registered as claimed by the National Institute of Health (NIH).
Moreover, rodents, particularly mice and rats are responsible for damaging food crops which reflects in the disruption caused in the food production and distribution networks. There has been steady growth in the food contamination rate caused by rodents. The agriculture sector is one of the largest consumers of bromadiolone as it relies heavily on the compound to protect livestock, crops, and stored produce. Due to the high toxic content of bromadiolone, there is growing research on developing and introducing innovative formulations of bromadiolone which perform effectively without causing any collateral damage.
Bromadiolone Market: Restraints
The bromadiolone industry is projected to register growth restrictions due to the existence of stringent regulations that influence the production and consumption of bromadiolone. As the compound poses severe health hazards along with being harmful to the environment, regional bodies may impose strict rules causing limited adoption of bromadiolone. Moreover, studies indicate that prolonged or excessive use of the chemical can lead to the development of resistance in the rodent population thus making bromadiolone functionally ineffective. Other factors such as cost-effectiveness and availability of alternatives could also trigger slow bromadiolone industry growth.
Bromadiolone Market: Segmentation
The global bromadiolone market is segmented based on application, type, and region.
Based on application, the global market segments are pellets or bait blocks, mother liquor, and others. In 2022, the highest CAGR was observed in the pellets or bait blocks segment since bromadiolone is traditionally and largely used in bait formulations. This form of administration helps in delivering a controlled dosage of the compound and they are designed to appear attractive to the rodent. Several advantages are associated with bromadiolone in block form which includes easy handling and placement. They can be used across commercial, residential, and agricultural settings. As per official estimates, there are around 7 billion rats spread worldwide. This number indicates an average of one rat per person.
Based on type, the bromadiolone industry is divided into liquid, powder, and others. The most popular form is the powder segment since there is greater demand for bromadiolone in pellets, bait blocks, or granule formulations. They offer advantages such as precise dosage and targeted placement which become difficult with the liquid form of the compound. Moreover, the growing consumption of bricks or pellets of bromadiolone is also a result of the controlled release of bromadiolone which enhances its efficacy in controlling rodent populations. However, there are specific applications of the liquid form as well but these uses are limited to incorporation into specialized equipment or customized formulations. Between 2003 and 2012, India recorded nearly 1400 deaths due to the consumption of rat poison.
Browse the full “Bromadiolone Market By Application (Pellets Or Bait Blocks, Mother Liquor, And Others), By Type (Liquid, Powder, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/bromadiolone-market
Bromadiolone Market: Regional Overview
Asia-Pacific is expected to register the highest growth in the global bromadiolone market led by the extensive use of the compound in Asian countries as the majority of the nations have extensive agricultural lands and also witnessing surging demand for farm produce. However, large-scale infestation caused by rodents is resulting in increased loss of stored produce as well as crops in the field causing the regional governments to undertake initiatives that may assist in controlling the rodent population.
North America may also register significant growth due to the higher demand in the US region. However, the sale of bromadiolone in the US is highly regulated and there are several protocols in place that determine the formulations in which bromadiolone is allowed for use. The increasing research activities for the development of safe formulations could result in higher regional market revenue.
The report contains qualitative and quantitative research on the global Bromadiolone market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Bromadiolone market include;
- Syngenta AG
- BASF SE
- Bayer AG
- Rentokil Initial plc
- Liphatech Inc.
- Neogen Corporation
- PelGar International
- Bell Laboratories Inc.
- JT Eaton & Co. Inc.
- Senestech Inc.
- UPL Limited
- Impex Europa S.L.
- HACCP International
- Ensystex Inc.
- LiphaTech SAS
- Impex Europa Ltd.
- Senetek PLC
- Unichem d.o.o.
- Pi Chi Industry Co. Ltd.
- Rat Sorb
- Eagle Brand Holdings Ltd.
- J.T. Eaton & Co. Ltd.
- Precious Harbour Co. Ltd.
- Qingdao Hilda-Jingyi Trading Co. Ltd.
- DODSON Pest Control
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Recent Industry Developments:
- In January 2023, BASF, a leading pest control solutions provider, announced the launch of a non-toxic Monitoring Paste that will allow pest controllers to monitor early rodent activity
- In September 2022, Lodi UK and Bayer announced a strategic collaboration that aims to develop a professional-grade cholecalciferol rodenticide that can be applied in burrows and open areas. The product will be targeting the agriculture sector
- In April 2021, BASF launched a new rodenticide aiming to control the ‘super-rats’ infestation. The new compound was launched in the UK market and adopts a different mode of function when compared to first- and second-generation anticoagulants
The global bromadiolone market is segmented as follows:
- Pellets or Bait Blocks
- Mother Liquor
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Bromadiolone industry?
- What are the main driving factors propelling the Bromadiolone Market forward?
- What are the leading companies in the Bromadiolone Industry?
- What segments does the Bromadiolone Market cover?
- How can I receive a free copy of the Bromadiolone Market sample report and company profiles?
What Reports Offers:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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