Household Insecticides Market Size, Share , Latest Trends, Key Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Household Insecticides Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The household insecticides market size has grown strongly in recent years. It will grow from $15.59 billion in 2023 to $16.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased pest-related health concerns, urbanization and population density, rise in vector-borne diseases, consumer awareness and education, changing lifestyles and hygiene standards, affordable and accessible products, climate conditions favorable to pests, product innovation and formulations.

The household insecticides market size is expected to see strong growth in the next few years. It will grow to $23.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rising concerns about emerging diseases, development of eco-friendly insecticides, consumer preference for diy pest control, impact of climate change on pest behavior, focus on child and pet safety, increasing investments in research and development, preference for long-lasting residual formulations. Major trends in the forecast period include eco-friendly and natural ingredients, technological advancements, multi-functional products, regulatory emphasis on safety, customized pest management solutions, globalization of pest threats, social media and digital marketing, innovation in product formats.

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Market Drivers and Trends:

Growing hygiene and sanitation concerns are expected to propel the growth of the household insecticides market going forward. Hygiene and sanitation concern refers to the awareness and focus on maintaining clean and healthy living environments, as well as the implementation of practices and products to prevent the spread of diseases and promote overall well-being. Household insecticides play a crucial role in hygiene and sanitation concerns by controlling pests that can spread diseases and cause health problems. Insecticides are used to kill or destroy insects such as mosquitoes, rats, ants, and cockroaches from the house, and they are applied to the surface or clothes of the house to control the growth of the insects. For instance, in July 2023, according to data published by UNICEF, a US-based humanitarian aid organization, it was estimated that 1.4 million people, including nearly 400,000 children under five, die each year from preventable diseases attributable to inadequate WASH, including diarrhea, acute respiratory infections (ARIs), soil-transmitted helminths, and undernutrition. In 2022, 3.5 billion people lacked safely managed services, of which approximately 1.9 billion had basic services. Among the 1.5 billion people lacking even basic services, 419 million practice open defecation. Therefore, growing hygiene and sanitation concerns are driving the growth of the household insecticides market.

Product innovations have emerged as a key trend gaining popularity in the household insecticides market. Major companies operating in the market are focused on offering innovative products such as plant-based pest control products to remain relevant in their markets while also growing and improving over time. For instance, in June 2022, SC Johnson, a US-based manufacturer of household cleaning supplies and other consumer chemicals launched STEM, a range of innovative pest control products powered by plant-based active ingredients. The product contains botanical extracts that when used in scientifically precise combinations, immobilize bugs while ensuring they are safe to use around humans and pets. Further, these products are free from added dye, fragrance, or harsh chemical odor. STEM offers an effective solution as it contains lemongrass, mint, and rosemary oils with its nozzles customized to target insects directly.

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Major Key Players of the Market:

Godrej Industries Limited, Liphatech Inc., Dabur India Limited., Jyothy Laboratories Limited, Reckitt Benckiser Group plc, S. C. Johnson & Son Inc., Spectrum Brands Holdings Inc., Sumitomo Chemical Co. Ltd., Zapi SpA, BASF SE, Bayer AG, Neogen Corporation, Anticimex Sverige AB, UPL Limited, The Scotts Miracle-Gro Company, PT Enesis Indonesia, FMC Corporation, Natural INSECTO Products Inc., Amplecta AB, Nicols International SA, Shogun Organics Ltd., Syngenta AG, The Dow Chemical Company, E.I. du Pont de Nemours and Company, Monsanto Company, Nufarm Limited, ADAMA Agricultural Solutions Ltd., Central Garden & Pet Company, The Andersons Inc., Rentokil Initial plc, Ecolab Inc.

Household Insecticides Market 2024 Key Insights:

• The household insecticides market size is expected to see strong growth in the next few years. It will grow to $23.49 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Rising Mosquito-Borne Diseases Propel Growth In The Household Insecticides Market
• Household Insecticides Market Driven By Growing Popularity Of Plant-Based Pest Control Innovations
• Asia-Pacific was the largest region in the household insecticides market share in 2023

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