Insect Repellent Market is Poised to Expand at a CAGR of around 7% over the next ten years

Insect-borne diseases can put an enormous health and economic burden on individuals and nations. Millions of people are directly affected by these infections, causing health disorders, weakness, and blindness, among others. Increase in literacy in developing countries is making rural populations focus more on health and hygiene. Furthermore, the current coronavirus crisis is driving modern consumers' purchasing decisions. Growing use of insect repellents to protect against insect-borne diseases is recognized as a major market driver worldwide. Consumers are more health-conscious and willing to pay for better solutions in healthcare and home care.

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As per a new report published by Fact.MR, the global insect repellent market is projected to reach a revenue of US$ 9.3 billon by the end of 2031, and is poised to expand at a CAGR of around 7% over the next ten years.

Key Takeaways from Market Study

The insect repellent market is anticipated to add 3X value by 2031.
Rising health awareness and prevalence of insect-borne diseases is a key driver of the market.
India and China are expected to become huge markets in the projected period.
There will be huge investments in insect repellents in many countries in Africa.
Investments in R&D and new advancements in technology will increase the market for insect repellents.
Rising demand for insect repellents in the 2nd half of FY2021 will lead to growth in the market.
“With rising awareness towards insect-borne diseases and new advancements in insect repellent technology, market growth will see a steady rise over the coming years,” says a Fact.MR analyst.

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Winning Strategy

Key players have been spending on research & development to come up with newer ways to make products more user-friendly and long-lasting. These enhancements will drive market growth in the medium- to long-term forecast period.

Manufacturers have also been innovating in insect repellent fabrics. For instance, an India-based startup, Clothing Innovation, is being publicized for its patent-pending Armor technology that factory treats fabric to repel insects such as mosquitoes, ticks, and ants, among others.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global insect repellent market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of insect (mosquitos, bees, bugs, flies, and others), product (sprays, lotions & creams, mats, coils, oils, liquid vaporizers, and others), and ingredient [natural (oil of lemon eucalyptus, citronella oil, and others) and synthetic (deet, picaridin, permethrin, IR3535, and others]), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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This release was published on openPR.