Press release
Household Insecticides Market is Projected to Increase at 6.9% CAGR and be valued at over US$ 27.7 Bn by 2031
Household Insecticides Market 2022
The global household insecticides market is currently valued at over US$ 14.25 Bn. Sales of household insecticides are projected to increase at 6.9% CAGR and be valued at over US$ 27.7 Bn by 2031. Rising concerns about vector-borne diseases is expected to surge demand for household insecticides.
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Consistent growth in urbanization across the globe accompanied by rise in disposable income, especially in emerging economies such as India and China, is also expected aid demand growth. Rise in disposable income is expected to increase per capita household expenditure of the population across the globe, which, in turn, is likely complement sales of household insecticides. Moreover, tourism increasing tourism will lead to growth in demand for household insecticides as spending increases on products such as anti-mosquito gels, creams, and coils.
However, insect repellents are known to be toxic and can lead to health issues. As a matter of fact, many studies have shown that insecticides and insect repellents can have long-term side-effects. This is a primary factor negatively impacting market growth to some extent. Moreover, various stringent regulations imposed over the use of synthetic chemicals in household insecticides across regions are expected to hamper market expansion.
Key Companies -
• S. C. Johnson & Son Inc
• Reckitt Benckiser Group PLC
• Godrej Consumer Products Ltd
• Spectrum Brands Holdings
• Dabur India Limited
• Bonide Products Inc
• Pelgar International Limited
• Tiger Brands Ltd
• Embraced by AB
• Jyothy Laboratories Ltd
• Earth Chemicals Co. Ltd
• Neogen Corporation
• Liphatech Inc
• Zhongshan Lanju Daily Chemical Industries Co., Ltd
• Sumitomo Chemical Co., Ltd
• Kittrich Corporation
• Sanmex International Limited
• Lodi UK
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In this market space, collaborations, acquisitions, and product launches are being witnessed on a large scale:
In 2021, Spectrum Brand Holdings announced its plans to acquire Life Products LLC, a maker of the brand Rejuvenate. This acquisition expanded the company's portfolio in the household insecticides segment.
In 2020, Godrej Consumer Products Ltd. launched a new liquid vaporizer mosquito repellant under its brand Good Knight. The vaporizer is named Good Knight Gold Flash, and the company claims it to be India's most powerful liquid vaporizer.
Key Takeaways from Market Study
• The global household insecticides market is anticipated to reach a value of US$ 27.7 Bn by the end of 2031.
• East Asia is the most prominent market for household insecticides. The region is expected to carry its dominance over the forecast period as well.
• Water-based household insecticides are expected to increase their market share due to shifting consumer base toward eco-friendly products.
• Liquid household insecticides are the most preferred across regions.
• Household insecticides to combat cockroaches and mosquitoes are the most-demanded across the world.
• Key manufacturers are engaged in research & development activities to expand their product portfolios with bio-based products and gain a competitive edge in the market.
• "Demand for household insecticides is estimated to be significantly driven by rising cases of mosquito-borne diseases such as dengue in urban environments," says a Persistence Market Research analyst.
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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