Insect Repellent Market: Innovations & Competitive Analysis – Forecast To 2021-2031
Insect Repellent Market: Introduction
Transparency Market Research delivers key insights into the global insect repellent market. In terms of revenue, the global insect repellent market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global insect repellent market.
The global market for insect repellents is largely affected by numerous factors, including rising health awareness and growing adoption of insect repellent products to protect against vector borne diseases. The rising trend of body worn insect repellents is driving the global market for creams and oil forms of insect repellent.
Insect Repellent Market: Key Segments
The global insect repellent market has been segmented by product type, ingredient, distribution channel, and region. Based on product type, the insect repellent market has been divided into coils, liquid vaporizers, sprays/aerosol, mats, cream & oil, and other products, which include chalk, powder, etc. The demand for mosquito repellent coils and liquid vaporizers is very high across key regions such as Asia Pacific and South America. Moreover, the demand for liquid vaporizers is anticipated to expand at a significant CAGR during the forecast period, owing to the frequent launch of new products. Liquid vaporizers are also smoke-free as compared to mosquito coils. This reduces the risk of breathing difficulties as long as proper precautions are being followed while using the vaporizers. The coils segment accounted for major revenue share in 2020 and is anticipated to expand at a CAGR of 6.2% during the forecast period.
In terms of ingredient, the market has been divided into natural ingredient and synthetic ingredient. The synthetic ingredient segment accounted for major market share in terms of revenue in 2020. However, rising preference for plant-based insect repellent products, especially in the form of creams and lotions is expected to boost the demand for natural insect repellent ingredients in the near future. The demand in the natural ingredient segment is anticipated to expand at a CAGR of 6.9% during the forecast period.
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Insect Repellent Market: Prominent Regions
The global insect repellent market has been divided into North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America). The demand for insect repellent in Asia Pacific and South America is anticipated to expand at a faster pace than any other region in the upcoming years, owing to increasing number of local manufacturers and penetration of international brands, and high prevalence of insect-borne diseases in these regions.
Furthermore, the market in Asia Pacific is projected to expand at a CAGR of 7% during the forecast period. In Asia Pacific, the insect repellent market generated revenue worth US$ 2.5 Bn in 2020. China and India are major countries contributing to the overall demand for insect repellent in the region. Rising population and a large number of middle class families in emerging countries with increasing disposable income influences consumers to invest in home care and personal care products. Furthermore, rapid urbanization and increasing dual-income households’ lead to the increasing adoption.
Insect Repellent Market: Key Players
Key players operating in the global insect repellent market are Avon Products Inc., Coghlans Ltd, Dabur India Limited, Entomol Products, LLC, Enesis group, ExOfficio LLC, Godrej Consumer Products Ltd, Homs LLC, Jyothy Labs Ltd., PIC Corporation, Quantum Health, Reckitt Benckiser Group PLC, Spectrum Brands Holdings Inc, S.C. Johnson & Son, Inc., and 3M.
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