Technavio Dec 14, 2021, 01:00 ET
The potential growth difference for the insect repellent market between 2021 and 2026 is USD 2.58 billion. To get the exact yearly growth variance and the Y-O-Y growth rate.
Key Market Dynamics:
- Insect Repellent Market – Driver
The key factor driving growth in the insect repellent market is the demand for organic insect repellent products. Plant-based or herbal insect repellents have been used traditionally as a personal protection measure against insects and mosquitoes. Most plants contain compounds that help in preventing attacks from plant-eating insects. Although the primary function of these compounds is a defense against plant-eating insects, many are also effective against mosquitoes. Knowledge of traditional repellent plants obtained through ethnobotanical studies is a valuable resource for the development of new natural products. Citronella was originally extracted for use in perfumery. However, citronella is currently one of the most widely used organic ingredients in insect repellent products. - Insect Repellent Market – Market Challenges
The stringent regulations pertaining to manufacturing repellent products will be a major challenge for the insect repellent market during the forecast period. In countries such as the US, Europe, Japan, Australia, Indonesia, Malaysia, Korea, and Vietnam, insect repellents are registered as pesticides. In the US, before mosquito repellents can be marketed, most skin-applied repellents must be registered by the US Environmental Protection Agency (EPA). In India, the Central Insecticides Board (CIB) advises the Central Government and State Governments on technical matters concerning the manufacture of insecticides under the Industries (Development and Regulation) Act, 1951. Similarly, other countries across the world have their regulations pertaining to the manufacture, commercialization, and use of mosquito repellents. These regulations also include testing of products within the country before they can be commercialized.
48% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for insect repellent in APAC. Market growth in APAC will be faster than the growth of the market in other regions.The high disposable income, growing awareness, improved living standards, and affordable pricing of repellents will facilitate the insect repellent market growth in APAC over the forecast period.
Mosquito Repellent Market –The mosquito repellent market size has the potential to grow by USD 3.60 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.50
