Insect Repellent Aftermarket Projected For Healthy Growth Rate During The Forecast Period
According to a new market report published by Transparency Market Research titled “Insect Repellent Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global insect repellent market is expected to reach US$ 7 Bn by 2026, expanding at a CAGR of 6.5% from 2018 to 2026. Asia Pacific held the dominant share of the insect repellent market in 2017.
Insect repellent are the substances which deter insects from approaching a particular room or area. The insect repellent can be in the form of solid, liquid, or gas. Consumers prefer these forms based on their convenience and requirements. Insect repellent products are available in coils, liquid vaporizers, sprays/aerosols, cream & oil and other forms.
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Health consciousness is increasing amongst the urban population across the globe as awareness regarding safety against insects is increasing. Furthermore, the increasing literacy rate in developing countries is aiding the rural population to focus more on health & cleanliness. People are taking more precaution about their health and are becoming aware about the use of protective aids to prevent insect bites that may cause harm to the body especially during outdoor recreational activities.
The use of synthetic and natural insect repellents advertised in various pharmaceutical forms is rising due to the increasing occurrence of vector-borne viral diseases such as Zika, dengue, chikungunya, malaria, and yellow fever. There has been a change in consumer demographics shifting toward use of natural insect repellent products such as essential oils that have low toxicity and do not harm the environment rather than DEET based products that may cause health issues due to toxic chemicals.
Factors such as high levels of urbanization, favorable climate, and lack of awareness about basic sanitation plays a major role in insect breeding, providing potential opportunity for the insect repellent manufacturers.
In line with the same, manufacturers are focusing on developing innovative insect repellent products by using natural ingredients in order to have an extensive, established product portfolio to target different consumers