Key Insights on Fact.MR’s Home Insecticides Market Forecast
Published : 03 Aug 2017 Industry: Consumer Goods
According to latest report published by Fact.MR, the global home insecticides market is set to surpass a valuation of US$ 10,453 Mn, reflecting steady CAGR over the forecast period (2017-2022). There are a number of home insecticides available in the market with specific utilities. Manufacturers are introducing home insecticides that can be used both indoor and outdoor as well as for different insects, bugs and pests. In addition, there are special sprays available that primarily target mosquitoes or any particular insect. At the same time, all-insect repellent prays are also quite popular among consumers. As consumers continue to become more conscious about health and hygiene, popularity of such products also increase. Moreover, outbreak of deadly disease that are transmitted through bugs and insects is expected to facilitate the growth of the global home insecticides market in the near future. Increasing consumer desire of a healthy lifestyle will be instrumental for driving the global sales of home insecticides.
Demand for home insecticides has also increased in emerging economies such as India and China due to rapid urbanization and increasing standards of living. Factors as such are anticipated to make a positive impact on the growth of the market over the next couple of years. On the other hand, severe impacts of home insecticides on environment and human health couple with rising immunity levels of pest and insects against repellents are the major implications of such products.
Global Market for Home Insecticides : Key Projections
- Based on product type, the spray/ aerosol insectisides segment is expected to remain most sought-after throughout the assessment period. Currently, this segment commands for close to 31% value share of the global market and is expected to remain dominant over 2022.
- Modern trades is expected to remain one of the most attractive sales channel for home insecticides in 2017 and beyond. The modern trade segment is expected to reach a market valuation in excess of US$ 3,760 Mn in 2022, riding at a steady CAGR over the forecast period.
- By composition type, the N,N-Diethyl-meta-Toluamide (DEET) segment is expected to witness steady growth during 2017 and 2022. In terms of revenue, this segment currently commands for around 35% share of the global market.
- Among regions, Europe is expected to remain a lucrative market for home insecticides. Between 2017 and 2022, the home insecticides market in Europe is projected to command for a significant value share of the global market. The region’s market is anticipated to increase at a CAGR of over 25 during assessment period. Meanwhile, North America and Asia-Pacific excluding Japan (APEJ) is expected to remain the other attractive markets for home insecticides.
Leading market players profiled in the Fact.MR report include, Bayer Aktiengesellschaft, MONSANTO, Godrej Consumer Products Limited, DuPont, Syngenta, Earth Chemical Co., Ltd., BASF, and SC Johnson & Son, Inc.,. Some of these top companies are concentrating on development of eco-friendly products with low toxicity as well as on enhancing the product efficiency.