Sep 19, 2018
Focus on Developing Non-toxic Products to bolster Growth of Home Insecticides Market, Observes Fact.MR
by Team Fact.MR
The global home insecticides market is driven increasingly on the back of the growing awareness about household hygiene and environmental sanitation in various countries world over. The intensifying focus on sanitation in urban settings has brought routine pest control for killing insects and rodents to the forefront, especially in less developed economies. This is a key factor driving the home insecticides market. The uptake of home insecticides is increasingly supported by the swift pace of urbanization in emerging economies, notably in Asia Pacific. The increasing role of home pesticides in integrated pest control is vital for the steady expansion of the demand. The growing popularity of synthetic is also boosting the home insecticides market. The advent of home insecticides effective in a broad range of home pests in the home insecticides market.
The global home insecticides market is projected to rise at a steady CAGR of 2.8% during the forecast period from 2017 to 2022. The opportunities in the home insecticides market is expected to reach a worth of US$ 10,453.9 million.
In less developed economies, the outbreak of infectious diseases, such as malaria and dengue, has accentuated the demand for home insecticides. These diseases are caused and propagated by pests such as various bugs and species of insects. The extensive use of household spraying to control malaria vectors in recent years has aided in the rapid expansion of the home insecticides market.
Of the various product types in the home insecticides market, spray/ aerosol insecticides leads the pack and held the leading share in 2017. The product category is expected to retain its lead in the overall home insecticides in the coming years as well. Vis-à-vis value, spray/ aerosol insecticides currently holds nearly 31.0% share in the home insecticides market, However, the segment is expected to lose some share in the coming years through the forecast period. This is attributed to the trend of home insecticides with fewer airborne particles leading to reduced exposure of pesticides to end users.
Of the various composition types of home insecticides, the N,N-diethyl-meta-toluamide (DEET) is poised to register promising growth during the assessment period 2017 - 2022. Vis-à-vis revenue, the segment currently accounts for a share of nearly 35% in the global home insecticide market.
On the regional landscape, Europe has emerged out a potentially lucrative market as there is extensive uptake home insecticides for numerous end use applications. The regional market for home insecticides is anticipated to garner a substantial share in the overall market during the assessment period. The Europe home insecticides market is projected to rise at a tremendous CAGR of 25 from 2017 to 2022. Meanwhile, the North America market for home insecticides is expected to rise at a promising pace. On the other hand, the demand for home insecticides is rising substantially in the economies of Asia-Pacific excluding Japan (APEJ). The rapid pace of demand for ensuring robust home sanitation standards is fueling the regional market.
A growing number of players in the home insecticides market are focused on developing product with better efficacy and versatile effect to meet the current and emerging end-user needs. Prominent producers of home insecticides are striving toward non-toxic formulation to meet the end of product innovations.
Some of the prominent playing vying for sizeable shares in the global home insecticides market are Bayer Aktiengesellschaft, SC Johnson & Son, Godrej Consumer Products Limited, BASF, DuPont, Monsanto, and Syngenta.