According to a new report published by Allied Market Research, titled, “Insect Repellent Market by Insect Type and Product Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global insect repellent market is expected to generate $ 9,615.7 million by 2026, growing at a CAGR of 6.8% from 2019 to 2026. 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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Increase in consumer awareness about insect-borne diseases and different government initiatives for lowering down the ill-effects of insectsdrive the growth of the global insect repellent market. However, availability of toxic chemicals including DEETin mosquito repellent products restrains the market growth. On the other hand, surge in demand for herb-based repellents and creation of commercial repellent products that include plant-based ingredients would offer new opportunities in the next few years.
The global temperature of the earth has continued to rise since past few years and is expected to increase more in the coming years, high temperature provides optimum conditions to the mosquitoes to breed and increases their level of activeness. Thus, impact of the rise in global warming would directly impact the growth of mosquito population which would ultimately lead to an increase in the penetration of products designed to repel them. The key market players have consistently engaged themselves into implementing effective marketing strategies aimed toward the promotion of various mosquito repellents. Companies have regularly involved themselves into spreading awareness amongst the people through various awareness campaigns and free sample distribution.
The global insect repellent market is classified on the basis of insect type into mosquito, bugs, fly repellent, and others. The mosquito segment dominated the market with the largest share in 2018 and is expected to exhibit significant growth during the insect repellent market forecast period. The rise in incidence of mosquito-borne diseases and global warming, which facilitates breeding of mosquitoes, are the prime factors that are expected to drive the market during forecast period. Other factors that drive the market are rising health awareness, government initiatives for mosquito control, and affordable cost of repellents. However, presence of toxic chemicals, such as DEET, in various mosquito repellent products cause ill effects on health, which are likely to restrain the growth of this market. Huge opportunities prevail for the global repellent market owing to the rise in demand for plant-based repellents and increasing penetration in untapped markets in rural regions.
A few companies such as Godrej targeted mothers to promote their sales for ‘Good Knight’ brand through advertising and creating a sense of fear in their minds related to their children getting infected with mosquito borne diseases. This has resulted into an increased sale of various products across the world to prevent diseases. The impact of these innovative marketing strategies are expected to continue to propel the demand for mosquito repellents in future.
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The top market players in the global insect repellent industry include Reckitt Benckiser Group, The Godrej Company, Dabur International, Johnson and Johnson, Spectrum Brands, Jyothi Labs, Swayer Ltd., Himalaya Herbals, Enesis Group, and Quantum Health.
Key Benefits for Insect Repellent Market Report:
○ This report provides a quantitative insect repellent market analysis of the current insect repellent market trends, estimations, and dynamics of the global insect repellent market size from 2019 to 2026 to identify the prevailing market opportunities.
○ The key countries in all the major regions are mapped on the basis of their market shares.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier buyer network.
○ A comprehensive analysis of factors that drive and restrict the growth of the market is provided in the report.
○ An in-depth analysis of the global market helps determine the prevailing market opportunities.
○ The report includes details of the analysis of the regional and global markets, key players, market insect repellent market segments, application areas, and growth strategies.
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