Portland, OR, April 06, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global insect repellent market generated $5.64 billion in 2018, and is expected to garner $9.61 billion by 2026, witnessing a CAGR of 6.8% from 2019 to 2026. The report offers a detailed analysis of drivers, restraints,& opportunities, key investment pockets, market size &projections, key segments, competitive landscape, and business performance.
Increase in consumer awareness about insect-borne diseases and different government initiatives for lowering down the ill-effects of insectsdrive the growth of the global insect repellent market. However, availability of toxic chemicals including DEETin mosquito repellent products restrains the market growth. On the other hand, surge in demand for herb-based repellents and creation of commercial repellent products that include plant-based ingredients would offer new opportunities in the next few years.
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On the basis of insect type, the mosquito segment held nearly half of the total market share in 2018, and is estimated to maintain its dominance during the forecast period. This is due to increasein government initiatives and product manufacturers for creating awareness regarding mosquito repellent products in rural localities. On the other hand, the others segment is estimated to register the highest CAGR of 8.2% from 2019 to 2026.
On the basis of product type, the vaporizers segment held the highest market share of the global insect repellent market in 2018, accounting for more than one-fourth of the total market revenue, and is expected to maintain its lead status by 2026. However, the spray segment is expected to register the highest CAGR of 7.5% during the forecast period.
Based on region, Asia-Pacific accounted for the major share, accounting for nearly two-fifths of the total market share in 2018, and is estimated to maintain its leadership position during the forecast period. The same region is expected to maintain the highest CAGR of 8.8% during the forecast period. The report also discusses segments including Europe, North America, and LAMEA.
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Being the major developing countries in the Asia-Pacific region, China and India are having sanitation concerns, thereby giving rise to breeding of insect and boosting the sale of insect repellant product.
Key market players analyzed in the report are Enesis Group, Reckitt Benckiser Group, Johnson and Johnson, Quantum Health, Spectrum Brands, Himalaya Herbals, Jyothi Labs, Dabur International, Swayer Ltd., and The Godrej Company.
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