Insect Repellent Market to Reach $9.61 Bn, Globally, by 2026 at 6.8% CAGR: Allied Market Research
Rising consumer awareness regarding insect borne diseases and several government initiatives to control the effects of insect in the surroundings fuel the growth of the global insect repellent market
PORTLAND, Oregon, Sept. 5, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Insect repellent Market by Insect Type (Mosquito, Bugs, Fly Repellent, and Others) and Product Type (Vaporizers, Spray, Cream, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026)." According to the report, the global insect repellent industry garnered $5.64 billion in 2018, and is estimated to reach $9.61 billion by 2026, growing at a CAGR of 6.8% from 2019–2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and changing market trends.
Rising consumer awareness regarding insect borne diseases and several government initiatives to control the effects of insect in the surroundings fuel the growth of the global insect repellent market. On the other hand, presence of toxic chemicals, such as DEET, in various mosquito repellent products hamper the growth to some extent. However, rise in the demand for herb-based repellents and development of commercial repellent products containing plant-based ingredients are expected to create an array of lucrative opportunities for the key players in the industry.
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The mosquito segment to lead the trail by 2026-
Based on insect type, the mosquito segment accounted for nearly half of the total insect repellent market share in 2018 and is expected to dominate throughout the forecast period. Rising initiatives by government as well as product manufacturers toward spreading awareness about mosquito repellent products in rural areas fuel the growth of the segment. The others segment, on the other hand, is projected to grow at the fastest CAGR of 8.2% during the forecast period. This is attributed to the increasing population of insect all over the world.
The vaporizers segment held the largest share in 2018-
Based on product type, the vaporizers segment contributed to more than one-fourth of the total insect repellent market revenue in 2018 and is anticipated to retain its top status till 2026. The fact that vaporizers help reducing insect counts and contain perfume that prevents humans from getting impacted by its effect drives the growth of the segment. Simultaneously, the spray segment is predicted to cite the fastest CAGR of 7.5% throughout the estimated period. Increase in application of the product ranging from mosquito repellent to bugs and fly repellent has boosted the growth.
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Asia-Pacific to rule the roost in terms of revenue-
Based on geography, the Asia-Pacific region generated the major share, holding nearly two-fifths of the total insect repellent market. Being the major developing countries in the Asia-Pacific region, China and India are having sanitation concerns, thereby giving rise to breeding of insect and boosting the sale of insect repellant product. The same segment would also showcase the fastest CAGR of 8.8% during the study period.
Leading market players-
- Enesis Group
- Johnson and Johnson
- Reckitt Benckiser Group
- Spectrum Brands
- Quantum Health
- Jyothi Labs
- Himalaya Herbals
- Swayer Ltd.
- Dabur International
- The Godrej Company
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