The Global Household Insecticides Market is expected to grow at a CAGR by 5.0% during the forecasting period (2021-2028).
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(Spin Digit Editorial):- El Reno, Oklahoma Nov 11, 2021 (Issuewire.com) – Market Overview
Household insecticides are chemicals used to kill or inactivate household insects. Household insecticides also include the substances applied to the surfaces of houses, clothes, and skin to control the growth of insects, roaches or bed bugs. In recent years, the government across the world is focusing upon developing measures to eradicate them due to which the household insecticides market is expected to grow during the forecast period. Moreover, increased threats due to communicable diseases such as malaria and an increased emphasis on the control of insect vectors by local and national government bodies are expected to drive the market.
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Rising concerns about vector-borne diseases
The major factors boosting the demand of the global household insecticides market include the rising incidences of vector-borne diseases and the increasing government initiatives towards the promotion of household insecticides across several nations. For instance, vector-borne diseases account for more than 17% of all kinds of infectious diseases resulting in more than 700,000 deaths every year. A primary threat around the globe remains vector-borne diseases. Complex environmental and social factors influence the spread of these illnesses. As mosquitoes and flies carry pathogens, they are more likely to spread infections. Rising concerns about vector-borne diseases is significantly fueling the growth of the household insecticides market. People are becoming increasingly aware of the risks associated with vector-borne diseases, and during the forecast period, this is expected to result in rising in the number of individuals buying household insecticides.
Organic household insecticides, in particular, have high demand as they are eco-friendly, are less toxic, and can degrade quickly. Manufacturers and producers in the household insecticides market largely focus on a combination of factors including their action effectiveness, toxicity, human tolerability, and the area and purpose of application to decide on the apt formulation. Hence, the advent of formulations and variants of insecticides that are well tolerated among humans is expected to act as an opportunity for the growth of the global household insecticides market.
On the other hand, the rising awareness regarding the side effects caused due to prolonged usage of household insecticides will hamper the growth of the global household insecticides market during the forecast period. Citronella is thought to be healthy, although a mild allergic reaction to the eyes or skin may occur in some individuals. According to the United States EPA (Environmental Protection Agency), there is little toxicity in citronella oil, and it poses no risk to humans or animals. There is also no risk to bees and other pollinators. However, Health Canada has expressed concern about the drawbacks of citronella, in particular the safety of applying large amounts of citronella products used on the skin.
- Mosquito Fly Control
- Rodent Control
- Termite Control
- Bedbugs & Beetle Control
- Electric Vaporizer
- Granules & Baits
- By Distribution Channel
- Supermarkets & Hypermarkets
- General Stores & Convenience Stores
- Drug Store
- Online Sales
APAC was the largest segment of the global household insecticide market in 2020 with a share of 56.35%.
Growing awareness of the benefits of using household insecticides through television advertisements and the high adoption rates of these products in tier 2 and tier 3 cities have been fueling the market’s growth. Most parts of APAC have tropical and sub-tropical climates, which is favorable for insects like mosquitoes to survive and breed. With the rising instances of insect-borne diseases, therefore, the demand for insecticide products is increasing exponentially in the region. China dominates the Asia Pacific household insecticides market with a share of 35%, followed by Japan. The demand for household insecticides made from natural ingredients rather than chemicals is gaining popularity among consumers in China. This trend is projected to support natural insecticide products.
With rising competition, manufacturers are bringing innovative products to the market
The global household insecticide market is highly fragmented due to the presence of both top vendors and local players operating across the globe. Reckitt Benckiser Group Plc, S. C. Johnson & Son Inc., Spectrum Brands Holdings Inc., Godrej Consumer Products Limited, and FMC are some of the major market participants. Godrej Consumer Products Ltd was the dominant player in household insecticides in 2020 has seen a further increase in its value share. This domestic company leads all the main categories with its innovative and competitively priced products, with popular brands including Good Knight, Hit and Jet Mats. After Godrej, the two most prominent players are SC Johnson and Reckitt Benckiser which offer popular brands including All Out and Mortein, respectively. Major players are also partnering with the government to eliminate the spread of diseases such as malaria and dengue. For instance, Godrej Consumer Products has actively championed social responsibility and is working on several initiatives to promote more sustainable growth. As the leader of household insecticides in India, it has partnered with the government to support its target of eliminating malaria in India by 2030. In 2018, Godrej Consumer Products Limited launched Goodknight Naturals Neem Agarbatti, which is made up of natural ingredients neem and turmeric which helps to repel mosquitos while providing effective protection.
COVID-19 Impact: Pandemic had a positive impact on the global household insecticides market
The ongoing COVID-19 pandemic has significantly increased the demand for household insecticides across the globe, to overcome the effect of virus and bacteria in both, the residential and commercial sectors. Moreover, post lockdowns in various parts of the world, it will be essential to have household insecticide products to overcome pest infestations such as cockroach infestation, mosquito breeding, rodent activities, and many more that took place in vacant premises in commercial areas during these times. On the other side, companies are also focusing on the B2B segment, as governments have been implementing stringent rules and regulations to maintain sanitization and hygiene. Moreover, a few major players of the market such as Godrej Consumer Products Ltd has registered five per cent growth in the first quarter of fiscal 2021 even though its consolidated sales have declined by one per cent year-on-year. The growth was due to the robust demand for its household insecticides and hygiene products.
Source :DataM Intelligence
This article was originally published by IssueWire. Read the original article here.