According to a new report published by Allied Market Research, titled, “Fly Traps Market” The fly traps market size was valued at $232.50 million in 2021, and is estimated to reach $407.90 million by 2031, growing at a CAGR of 5.8% from 2022 to 2031. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario.
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Fly traps are popularly used to control the population of flies, restrict the flies and insects to spread parasitic and infectious diseases, and catch and kill various flies such as houseflies, mosquitoes, black fly, and horse-flies. The rising prevalence of infectious diseases across the globe is expected to boost the demand for the fly traps during the forecast period. According to the World Health Organization, around 17% of the infectious diseases are caused by the flies and it results in over 700,000 deaths each year across the globe
According to the global fly traps market analysis, the market is segmented on the basis of type, application, price range, distribution channel, and region.
Based on the type, the electric is expected to be the fastest-growing segment during the forecast period. This is attributed to the advances in the technology and rising investments in the innovative product development by the major companies like Brandenburg and Rentokil Initial Plc. The rising demand for the electric fly traps owing to its enhanced performance, eco-friendly nature, and energy efficiency is anticipated to boost the growth of the electric segment in the foreseeable future.
According to the fly traps market trends, depending on the application, the commercial segment is expected to sustain its dominance during the forecast period. The commercial segment accounted for 75.1% of the fly traps market share in 2021. The huge adoption rate of the fly traps in the commercial spaces such as shopping malls, hospitals, hotels, restaurants, building management, agricultural fields, and factories is the most prominent factor behind the exponential growth of the segment.
By price range, the high is anticipated to be the fastest-growing segment during the forecast period. The rising popularity of the automatic, energy efficient, and advanced feature installed electric fly traps among the high income households and commercial spaces is expected to drive the growth of the high price range segment in the global fly traps market.
Depending on the distribution channel, the e-commerce is the largest and the fastest-growing segment in the market. The rising adoption of the digital channels for buying fly traps and other products, rising adoption of e-commerce platforms, growing adoption of smartphones, and increasing penetration of internet across the globe is boosting the growth of the e-commerce segment. According to the International Telecommunication Union (ITU), around 4.9 billion people were using internet across the globe in 2021.
Region-wise, North America dominated the global fly traps market, garnering a market share of 50.8% in 2021. The increased awareness regarding the diseases spread by the flies, increased product penetration, in U.S., rising healthcare costs, growing prevalence of infectious diseases, and rising residential and commercial applications are the major factors that has led to the dominance of U.S. and eventually North America in the global fly traps market.
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Some of the major players operating in the fly traps industry are Agri Phero Solutionz, Cleanrth, Eco Trap Guard, Ecoman Biotech, Flies Be Gone, Godwill Energy Products Private Limited, Arbico Organics, Katchy Bug, McQwin, Pestronics, Rescue, Reza Hygiene, RSVP International, Sterling International, Inc., Woodstream Corporation, Brandenburg, and Rentokil.
Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fly traps market from 2021 to 2031 to identify the prevailing fly traps market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the fly traps market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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