Termite Bait Systems Market Projected To Hit US$ 465.0 Million By 2033 | Future Market Insights

(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The global termite bait systems market is anticipated to total US$ 465.0 million by 2033. It is estimated to record a steady CAGR of 4.3% in the review period 2023 to 2033. It is likely to register US$ 288.9 million in 2023. The global termite bait systems market witnessed an astonishing CAGR of 5.6% in the historical period between 2018 and 2022.

The termite bait systems market turns around specialized approaches to termite control. They are a substitute method to manage and avert termite infestations. Instead of relying on customary chemical treatments, which can impact the environment, termite baiting systems use targeted bait to eradicate termite colonies. This approach has become popular due to its efficiency, lower ecological impact, and suitability for various contexts.

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The termite bait system market includes producing, distributing, and applying termite bait systems. These systems are planned to attract and eradicate termite colonies over specialized bait formulations. Termite trap stations are deliberately placed around the property, often near areas where termites are likely to forage.

Termites searching for bait will explore bait stations and consume the bait. They then return it to their colony, where it is shared with other associates. This leads to the ultimate elimination of the total termite population. Regular observation and examination of bait stations are essential for success. Pest control specialists check bait stations for termite movement and replenish bait if necessary.

Termite bait systems are measured more ecologically friendly than some chemical treatments. They use less active ingredients and have less influence on non-target organisms. Termite bait systems are designed to grind by the natural foraging behavior of the subterranean termites. They custom termites' social structure and foraging habits to spread bait throughout the colony.

Termite bait systems provide several benefits, including reduced environmental impact, targeted control, and the long-term ability to destroy termite colonies. They also cause less disruption during installation than some other treatment approaches. The market for termite bait systems has been growing steadily, driven by increasing awareness of termites and shifting to more eco-friendly pest control methods. Technological advancements and emphasis on sustainable solutions also contribute to market trends.

Key Takeaways from the Termite Bait Systems Market Report

• The United States termite bait systems industry is projected to reach US$ 85.7 million in the forecast period.
• The United Kingdom's termite bait systems industry is set to be valued at US$ 19.0 million by 2033.
• China's termite bait systems industry is likely to cross a value of US$ 68.8 million by 2033.
• Japan's termite bait systems industry is estimated to top a valuation of US$ 47.8 million by 2033.
• Based on type, the underground segment is set to witness a CAGR of 3.8% from 2023 to 2033.
  

"Several strategies used to control termite populations, containing liquid chemical obstacles and bait stations, are the key drivers of the termite bait systems market. Numerous liquid chemical barriers, such as anti-agents, generate barriers and underneath structures. Potential termite passage routes also drive the termite bait systems market.” – Opines Sneha Verghese , Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).

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Scope of the Report:

Attribute	Details
Estimated Termite Bait Systems Market Size (2023)	US$ 465.0 million
Projected Termite Bait Systems Market Valuation (2033)	US$ 465.0 million
Value-based CAGR (2023 to 2033)	4.3	%
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Value (US$ million)
Segments Covered	Type Application
Regions Covered	North America, Latin America, East Asia, South Asia Pacific, Western Europe, Eastern Europe, Middle East & Africa
Key Companies Profiled	Arrow Exterminators Inc BASF SE Bayer AG Dow Inc DuPont de Nemours Inc

Competitive Landscape

Leading players in the termite bait systems market are introducing new and innovative goods to meet the growing demand. International companies are inflowing new markets in developing regions to expand their customer base and increase their presence. Key players and suppliers are likewise adopting several strategies, including joint ventures, acquisitions, mergers, new product development and geographic expansion.

For instance,

• In May 2023 , Brentwood, California-based Aantex Pest Control acquired Aantex Pest Control Norcal, growing its presence in the Sacramento, California market.
• In April 2023, Fox Pest Control Holdings was acquired by Rollins, Inc.
• 2021 Decke Global introduced Bio-Totung in 2021 as a biotechnology-based pre-construction product.
  

Key Segments in the Termite Bait Systems Market:

By Application:

• Commercial & Industrial
• Residential
• Agriculture & Livestock Farms
• Other Applications

By Type:

• Subterranean
• Dampwood
• Drywood
• Other Types

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Author by

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments about Consumer Retail Goods.

Her work primarily focuses on facilitating strategic decisions, planning and managing cross-functional business operations technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

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