Mosquito Repellent Market: Size, Growth Forecast, and Analysis of Key Players and Trends for 2023-2029
The global mosquito repellent market size was evaluated at USD 6.23 billion in 2021. The market is anticipated to expand from USD 6.51 billion in 2022 to USD 9.30 billion by 2029, exhibiting a CAGR of 5.23% during the forecast period. Rapid urbanization and industrialization in economies such as China, India, Brazil, the UAE, Argentina, and others is resulting in the construction of apartments and buildings, which increases the demand for insect repellent products, thus driving market expansion. This information is provided by Fortune Business Insights, in its report titled, “Mosquito Repellent Market, 2022-2029.”
COVID-19 Impacts:
Supply Chain Disruptions Hampered Market Growth Amid the Pandemic
The spread of COVID-19 worldwide resulted in the implementation of social distancing norms and lockdowns in several economies. This, in turn, resulted in the partial or complete closure of manufacturing facilities. Supply chain hindrances, labor shortages, and raw material unavailability hindered the mosquito repellent market growth further. Moreover, the closure of stores and mega marts in several economies decreased home care product sales amid the pandemic, which affected market proliferation negatively. Despite these challenges, product sales on online channels increased in 2020 and growth opportunities for domestic players were generated.
Segments:
Effective Actions of Coils as Compared to Other Products to Aid Segment Growth
According to product type, the market is divided into coil, spray, cream and oil, vaporizers, and others. Among these, the coil segment held the largest share in the global market in 2021 and is anticipated to expand significantly in the forthcoming years. Mosquito coils provide immediate actions to the surrounding and are also widely available in all places. This, in turn, elevates the adoption of coils attributing to segment expansion.
Chemically Derived Repellents Segment to Dominate Stoked by their Efficiency
Based on raw material, the market is split into plant-based repellents and chemically derived repellents. Among these, the chemically derived repellents segment dominated the market in 2021. Chemically derived mosquito repellents provide an immediate solution against mosquitoes as they are made of highly concentrated chemicals. This makes them more efficient as compared to plant-based alternatives, which increases their adoption and contributes to segment proliferation.
Wider Product Portfolio in Supermarkets to Lead the Segment
As per distribution channel, the market is segmented into retail stores, supermarkets, online, and others. Among these, the supermarkets segment captured a significant share of the global market in 2021. Supermarkets offer a wide variety of products to consumers, which lets the customers verify the products and select from a range of product portfolio before purchasing.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report provides valuable insights into drivers, restraints, opportunities, and threats impacting market dynamics over the forecast timeframe. The market is studied at a granular level by dividing it into segments and regions. Market share, growth rate, and valuation projections for each segment, region, and country are given as well. Additionally, latest developments among industry leaders are covered as well to enable industry stakeholders to make informed decisions.
Drivers and Restraints:
Rising Insect Population Due to Climate Change to Drive Market Growth
Temperature is an important abiotic factor affecting insect population. Climate change has a direct impact on insect population dynamics by changing reproduction, incidence, and mortality rates. Weather can also affect insect population indirectly by altering the population, distribution, and physiology of host trees, with increasing temperatures exponentially raising insect metabolic rates. Therefore, heavy rains and global warming increased mosquito population, thus propelling the demand for products to repel insects.
On the other hand, the adverse effects of using mosquito repellents such as rashes, swelling, allergies, and eye irritation will hinder market proliferation over the forecast timeframe.
Information Source: https://www.fortunebusinessinsights.com/mosquito-repellent-market-104417
