Insect Repellent Market to Witness Robust Growth with a Projected CAGR of 5.2% by 2030, says MarkWide Research
According to a new report published by MarkWide Research, titled, “Insect Repellent Market: Current Trends, Growth Drivers, and Forecast 2023-2030”, the global insect repellent market is poised to experience substantial growth, driven by increasing awareness about insect-borne diseases and rising demand for effective personal protection measures.
The report indicates that the insect repellent market is expected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2023 to 2030. Factors such as the growing prevalence of vector-borne diseases, expanding urbanization, and rising consumer consciousness regarding health and hygiene are anticipated to fuel the demand for insect repellent products across the globe.
Rising instances of diseases like malaria, dengue fever, Zika virus, and Lyme disease, transmitted primarily through insects such as mosquitoes and ticks, have significantly heightened the need for effective insect repellents. The global population’s increased mobility and travel have contributed to the spread of these diseases, further emphasizing the importance of reliable insect repellent solutions.
The “Insect Repellent Market: Current Trends, Growth Drivers, and Forecast 2023-2030″ report highlights the burgeoning adoption of natural and organic insect repellents. Consumers are increasingly seeking products that not only provide protection but also align with their preference for environmentally-friendly and skin-safe options. Manufacturers are responding to this demand by introducing repellents crafted from plant-based ingredients like citronella, eucalyptus, and neem oil.
In addition to personal insect repellent products, the market is witnessing a surge in demand for household insect repellents. With changing climatic conditions and growing pest-related concerns, households are resorting to preventive measures to ensure a safe living environment. This trend has led to an upswing in the sales of products such as mosquito coils, electric vaporizers, and sprays, which effectively keep insects at bay.
The report segments the insect repellent market based on product type, distribution channel, and region. By product type, the market includes sprays, creams, lotions, oils, and others. Among these, the spray segment is anticipated to dominate the market share owing to its convenience and easy application. Online and offline channels constitute the major distribution channels for insect repellent products. The online segment is projected to witness substantial growth due to the rising popularity of e-commerce platforms and the ease of product comparison and accessibility.
Geographically, North America and Europe are expected to hold a significant share in the insect repellent market due to heightened awareness regarding insect-borne diseases and the presence of established players in these regions. The Asia-Pacific region is anticipated to exhibit rapid growth during the forecast period, attributed to a large population base, increasing disposable income, and rising health concerns.
The “Insect Repellent Market: Current Trends, Growth Drivers, and Forecast 2023-2030” report profiles key players operating in the market, including market leaders and emerging players. The competitive landscape showcases strategies such as product innovation, partnerships, and mergers & acquisitions, adopted by these companies to maintain their market presence and expand their customer base.
As the world faces the challenges posed by insect-borne diseases, the insect repellent market is poised to play a crucial role in safeguarding public health. The rising awareness about preventive measures, coupled with technological advancements in repellent formulations, is anticipated to drive substantial growth in the market. MarkWide Research’s comprehensive report sheds light on these trends, offering insights and analysis that will guide stakeholders, investors, and businesses in making informed decisions in the evolving insect repellent market.