Chicago, Sept. 22, 2022 (GLOBE NEWSWIRE) — According to Arizona’s latest research report, baited insect traps market is expected to grow at a CAGR of around 7% during 2022-2027. The rising consumer awareness of baited insect traps among residential and commercial customers will provide enormous growth opportunities for baited insect trap vendors worldwide. The rise in disposable incomes of the middle-class consumer segment and the introduction of healthy lifestyles will also accelerate the demand for baited insect traps. The market is also comparatively well-established in developed economies such as the US, due to the high awareness of precautionary measures to prevent pest infestations.
Baited Insect Traps Market Report Scope
|MARKET SIZE (2027)||$734.04 Million|
|MARKET SIZE (2021)||$512.34 Million|
|CAGR (2022-2027)||over 6%|
|MARKET SEGMENT||Bait Type (Gel and Paste Baits, Granular Baits, and Liquid Baits), Pest Type (Cockroaches, Ants, Moths & Flies, Bed Bugs, and Others), End-User (Commercial (Hospitality, Hospitals, Commercial Warehousing, Agriculture, and Others), Residential, and Others and Distribution Channel (Offline and Online)|
|GEOGRAPHIC ANALYSIS||North America, Europe, APAC, Middle East & Africa, Latin America, and UK|
|COUNTRIES COVERED||US, Canada, Germany, France, Spain, Italy, China, Australia, India, Japan, South Korea, Saudi Arabia, South Africa, UAE, Mexico, Brazil, and Argentina|
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How are the Vendors Gearing Up to Lead the Market?
In the global market for baited insect traps, vendors compete fiercely for more customers. In the pest and termite control markets, the most strategic approach includes a focus on operational quality, proximity to consumers, guarantee terms, technological expertise, and price. Many vendors are focused on adjusting and optimizing their specific value propositions to achieve a strong market presence. In developed countries such as the US and other Western European countries, the consumer penetration is high, although the market is at a promising stage in emerging economies such as China and India, owing to the entry of many foreign brands into these countries and the rising understanding of hygiene among end users.
Arizona believes international players would grow inorganically by acquiring regional or local players in the future. Furthermore, companies with better technical and financial resources can develop innovative products, which could pose a threat to competitors’ products and render their products and services non-competitive and even obsolete before they can recover promotional and commercialization costs. Therefore, vendors must develop new and innovative products and remain well-informed on upcoming trends to gain a competitive advantage over competitors in the market.
Businesses worldwide incur operating costs of more than $10 billion in controlling pests, and therefore, the efficacy of pesticides is essential to exterminate pests and prevent pest infestations. Although from a revenue or volume perspective, the impact on the market is minimal, from a brand standpoint, such factors impact vendors in the market. There has been a considerable surge in demand for new pesticides that can readily eliminate unwanted organisms and pests that have grown resistant to pesticides, which is expected to drive the demand for baited insect traps.
“Glance through the global baited insect traps market report of more than 225 pages comprising 121 tables and 85 exhibits to develop a deep understanding of the market.”
The global baited insect traps market report covers the forecast years between 2022 and 2027 and the base year of 2021. The market is segmented by bait type, pest type, end user, distribution channel, and geography for the years considered. The report provides a holistic approach to the global baited insect traps market for customers to efficiently analyze the market.
“For further information and clarification on the market, a discussion with the analyst can be arranged at the feasibility of the client.”
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- Spectrum Brands
- PF Harris
- Fujian Blue-touch Products
- Earth Corporation
- SC Johnson
- Gel and Paste Bait
- Granular Byte
- Liquid Bait
- Moths & Flies
- Bed Bugs
- Commercial Warehousing
- North America
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America
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