According to a new market report published by Transparency Market Research titled “Mosquito Repellent Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global mosquito repellent market is expected to reach a value of US$ 5,698.6 Mn by 2026. The market is estimated to expand at a CAGR of 6.3% during the forecast period from 2018 to 2026. In terms of volume, the market stood at around 1,673.6 Million Units in 2017. Asia Pacific dominated the mosquito repellent market in 2017, acquiring approximately 55% of market share.
The market in this region witnessed rapid increase in urbanization, changing lifestyle of people, and rise in awareness among consumers about healthy and safe products which has fueled the mosquito repellent market in the region. Additionally, countries such as India and China have a major market for mosquito repellent due to rapid increase in population, higher population density etc. Moreover, number of cases related to mosquito diseases were also more in these countries. For example in India, cases of Chikungunya and dengue increased up to 390% from 2015-18. These countries are worst hit and the scenario is expected to worsen during the forecast period.
The mosquito repellent market is influenced by market dynamics with the prime driving factor being the increase in Vector-borne diseases. According to WHO, Vector-borne diseases account for more than 17% of all infectious diseases, causing more than 700 000 deaths annually.More than 3.9 billion people in over 128 countries are at risk of contracting dengue, with 96 million cases estimated per year. Additionally, increase in health awareness amongst the urban and rural population across the globe is boosting the mosquito repellent market. Furthermore, increase in outdoor recreational activities is increasing the demand for creams and oils, and sprays/aerosols as they are easy to handle and carry, and can be applied as and when required.
Request A Sample –
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=50361
Based on product type, the coils segment dominated the market in 2017 and was valued at US$ 872.2 Mn at a CAGR of 6.4% due to its widespread application across the globe. Moreover, coils are cheaper compared to other mosquito repellents and are readily available in the market which leads to its enhanced consumption. However, creams and oils segment is anticipated to grow due to its high efficiency for repelling mosquitoes. Moreover, creams and oils are compact in size and are easy to handle and carry. Such products are ideal for camping and other recreational activities.
Based on ingredient type, synthetic ingredients acquired major market share due to wide utilization of DEET as one of the active ingredient in mosquito repellent globally. However, natural ingredients are gradually gaining popularity across the globe as natural ingredients are chemical free and DEET free. According to distribution channel, online channel is anticipated to grow at a faster rate due to availability of wide product portfolios at a reasonable rate.
Read Latest Industry Press Release@
Some of the key players in the mosquito repellent market include Reckitt Benckiser Group PLC, Godrej Consumer Products Ltd., S.C. Johnson & Son, Inc., Spectrum Brands Holdings Inc., E. I. du Pont de Nemours and Company, Jyothy Laboratories Ltd., 3M, Avon Products Inc., Dabur International, Enesis Group etc.The key players adopt numerous strategies to sustain in the market. Product development and acquisition and partnership are some of the main strategies adopted by key players to gain a competitive edge.
0 comments:
Post a Comment