Global Termite Bait Products Market Is Projected To Reach A Revenue US$ 2.8 Million By The End Of 2031

With individuals and industries alike are looking for easy-to-install and less intrusive termite bait systems, manufacturers are spending more on R&D to make better products and improve overall efficacy. Manufacturers of termite bait products are improving their service portfolios by assuring regular checkups and appointing skilled professionals for maintenance purposes. Market players are also making eco-friendly products that are also durable at the same time, besides investing in new techniques such as three bait toxicants especially meant for subterranean termites.

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As per a new report published by Fact.MR, the global termite bait products market is projected to reach a revenue US$ 2.8 million by the end of 2031. In terms of revenue, the market is estimated to expand at a CAGR of around 5% over the forecast period of 2021 to 2031.

Key Takeaways from Market Study

• The termite bait system products market is anticipated to see growth of 1.5X by 2031.
• North America is the biggest market for termite bait products in the world, and demand here will rise further over the coming years.
• Asia is the fastest-growing market for termite bait products.
• Launch of new eco-friendly termite bait products is lending added impetus to market growth.
• Subterranean termites are the most common types of termites, and they are accountable for 85% of total damage.

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Key Market Segments Covered

• Termite
  • Subterranean Termite Bait Products
  • Dampwood Termite Bait Products
  • Drywood Termite Bait Products
• Bait Type
  • Termite Bait Devices
  • Liquid Eradication Method for Termites
• Station Type
  • In-ground Termite Bait Products
  • Above-ground Termite Bait Products
• By Application
  • Commercial & Industrial Termite Bait Products & Systems
  • Residential Termite Bait Products & Systems
  • Termite Bait Products & Systems for Agricultural & Livestock Fields
• Distribution Channel
  • Termite Bait Products through Online Channels
  • Termite Bait Products through Offline Channels

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Japan
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

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