Tick Repellent Market to Reach $23.41 Billion by 2031, Registering at a 5.5% CAGR From 2021-2031

According to a new report published by Allied Market Research, titled, "Tick Repellent Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Method, by Application, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2031". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global tick repellent market size was valued at $13.73 billion in 2021, and is projected to reach $23.41 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

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Tick repellents includes the various oral and spot on products and medicines that can help to prevent and kill the different types of ticks and fleas that are parasitic in nature, from the skin/body of pet animals such as dogs, horses, cats, reptiles, birds, cows, goats, pigs, and various other animals that are popularly kept as pets at home. The surge in awareness among the people regarding the various diseases caused by the ticks such as Tularemia, Powassan, Lyme, and Ehrlichios is is driving the demand for the tick repellents across the globe.

According to the tick repellent market analysis, the market is segmented based on the type, method, application, distribution channel, and region. Based on the type chewable and spot on. The chewable segment is further categorized into fluranaler, valerian, chamomile, and others. The spot on segment is divided into fipronil, methoprene, moxidectine, and others. Further, on the basis of method, the market is segregated into external and internal. Based on the application, the tick repellent market is segmented into dogs, cats, and others. Depending on the distribution channel, the market is divided into modern trade, veterinary clinics, convenience stores, and online sales. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

As per the tick repellent market forecast, by type, the spot on segment accounted for 63.4% of the tick repellent market share in 2021 and is expected to retain its dominance during the forecast period. This growth is attributed to the increased adoption of over the counter tick repellent spot on products among the pet owners owing to its easy availability and easy to use feature. The availability of wider range of products and brands depending on the types of pets, has attracted a large customer base across the globe who have different pets and different requirements.

As per the tick repellent market trends, based on method, the internal is expected to be the fastest-growing segment. This is attributed to the rising awareness regarding the higher efficacy and effectiveness of the external tick repellents in treating and preventing the ticks and fleas. As per the study published in Veterinary Parasitology (a ninety day study), the oral medications were 99.9% effective in repelling ticks among the dogs.

On the basis of distribution channel, the online sales is expected to be the fastest-growing segment owing to the rising adoption of the smartphones, growing penetration of internet, rising popularity of online retailers, and rise in the penetration of the subscription based pet product suppliers like Kong Box. The ease and conveniences associated with these subscription boxes is expected to boost the growth of this segment.

Depending on the application, the dogs segment dominated the market in 2021. This is attributable to the higher number of pet dogs across the globe and the increased vulnerability of dogs to the ticks and fleas. According to the latest data from European Pet Food Industry Federation (FEDAIF), in 2021, there were 92 million dogs as pet in Europe and according to the survey of the American Pet Products Association (APPA) in 2021, around 69 million households in America have dogs as their pet.

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Region-wise, North America dominated the market in 2021. This growth is majorly driven by the higher pet adoption in U.S. and increased expenditure on pets in the region. According to American Pet Product Association (APPA), in the year 2021, around $123.6 billion was spent on pets in U.S., out of which around $29.8 billion were used in the supplies and OTC medicines.

Analyst Review:

Based on the insights of the CXOs, the demand for the tick repellents is expected to be driven by the innovations and new product launches by the key players in the market. For instance, Elanco Animal Health Incorporated launched ZoaShield in the U.S., providing poultry farmers with a proven and flexible zoalene solution that can manage coccidiosis in a simple and manageable way. Moreover, the US based company Ecobuggy launches new tick repellent named as breakthrough natural, which is 100% plant-based mosquito tick repellent. Therefore, with the rising population of ticks and fleas in the major markets, and surging awareness regarding the effective and harmless tick repellent products is anticipated to boost the growth of the global tick repellent market.

Key Benefits For Stakeholders:

➢ This report provides a quantitative analysis of the tick repellent market size, segments, current trends, estimations, and dynamics of the tick repellent market analysis from 2021 to 2031 to identify the prevailing tick repellent market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the tick repellent market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

Reasons to buy Tick Repellent Market Report:

➢ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
➢ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
➢ Classify potential new clients or partners in the target demographic.
➢ Develop tactical initiatives by understanding the focus areas of leading companies.
➢ Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
➢ Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
➢ Report will be updated with the latest data and delivered to you within 2-4 working days of order.

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