Increased awareness of insect borne diseases propels Insect Repellent Market

Market overview:
The global Insect Repellent Marketwas worth USD 5.6 billion in 2020, and it is estimated that it will reach a valuation of USD 9.6 billion by 2025 at a CAGR of 6.8% during the outlook period.

Insect repellants are chemicals that are applied to skin, clothing, or other surfaces that prevent insects from landing or climbing on those surfaces. Insect repellants help prevent and control the occurrence of insect-borne diseases such as Zika, malaria, dengue, Lyme disease, river blindness, and western fever. Recently, since consumers are very interested in their health, the market demand for repellants has increased significantly.

Recent developments:
In 2018, Mortein launched a '2-in-1 insecticide' with a 100% death guarantee against mosquitoes that cause dengue fever and Zika and cockroaches that cause diarrhea.

Market Drivers and Restrains:
The market is likely to increase in the forecast period as awareness of the benefits of insect repellants increases, especially in rural areas. In recent years, traditional pest control methods have been replaced by new commercially available insect repellants. Increased consumer awareness of insect-borne diseases caused by increased waste from commercial facilities or households is expected to increase the market share over the foreseen period. The growing demand for natural and herbal insect repellants in urban areas is driving market growth. Government initiatives to control the impact of insects on the surrounding environment are also likely to affect growth during the estimated period.

Also, the rise in insect-borne diseases caused by the increase in mosquitoes has had a positive impact on the growth of the insect repellent market. In addition, the development of commercial insect repellants containing plant ingredients is gaining popularity among consumers as they are generally recognized as "safe" compared to synthetic insect repellants. On the other hand, increasing demand for herbal insect repellants and the development of commercial insect repellent products containing plant-based ingredients will bring new opportunities in the coming years. Growing consumer awareness of insect-borne diseases and various government initiatives to reduce the adverse impacts of insects are driving the growth of the global repellent market. However, the availability of toxic chemicals limits this business growth.

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Report is segmented as:
Based on the type of insect, the mosquito segment accounted for almost half of the total market share in 2019 and is expected to remain dominant throughout the outlook period. This is due to a growing number of product manufacturers and government initiatives to increase awareness of mosquito repellent products in rural areas.

On the other hand, it is estimated that the cream segment will have the highest CAGR of 8.2% from 2020 to 2025. It is more than a quarter of total market sales and is expected to remain at the forefront until 2025. However, it is expected that the spraying segment to record the highest CAGR of 7.5% during the conjecture period.

Geographical Segmentation:
Asia Pacific led the market with a 40% share and is expected to see significant growth in the near future. India accounts for the majority of the share in Asia Pacific and is expected to grow at an annual average of 8.9% over the forecast period. The local market has been driven by the introduction of a wide range of products, consumer adoption by increasing awareness of various benefits, and an increase in insect-borne diseases. The MEA emerged as the second largest regional market for products, accounting for 18.0% of total sales in 2019. In most of Africa, the number of vector-borne diseases caused by pathogens has increased. The government is taking the necessary steps to overcome the problems in Africa and other Middle Eastern countries.

Impact of COVID-19 on Insect Repellent Market
The insect repellent industry has not grown steadily since the coronavirus outbreak. The overall performance of these products has deteriorated as a result of the current pandemic crisis. However, the virus outbreak has led to significant growth in categories such as cleaning and hygiene and health awareness, and the market for repellents has increased slightly after the shutdown.

Key market players:
Key market players include Reckitt Benckiser Group, Enesis Group, Quantum Health, Johnson and Johnson, Swayer Ltd., Himalaya Herbals, Spectrum Brands, Dabur International, Jyothi Labs, and The Godrej Company.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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