New York, April 15, 2016 (GLOBE NEWSWIRE) -- According to a latest market report published by Persistence Market Research titled, “Global Market Study on Household Insecticides Market: Asia Pacific to Witness Highest Growth by 2021”, the global household insecticides market has been estimated to be valued at US$ 10,958.0 Mn in 2015 and is expected to expand at a CAGR of 7.9% over 2015–2021, to reach US$ 17,249.0 Mn by 2021.
Household insecticides include substances applied to clothing, skin, or other surfaces to control or repel insects. A wide range of insecticides is currently available in the global market. These include insect sprays for use in the kitchen to weed killers for the lawn and mosquito repellents for indoor or outdoor use. Household insecticides have been witnessing wide acceptance to keep homes and gardens insect-free and to ensure safe and healthy living environment.
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The growth of the global household insecticides market is majorly driven by increasing demand from emerging regions such as Asia Pacific due to rapid urbanization and growing disposable income among the population. In addition, factors such as rising urbanization and concerns over vector-borne diseases across the globe are projected to fuel demand for household insecticides in the near future.
Conversely, toxicity levels in household insecticides are increasing (primarily due to the growing immunity level of insects), which is causing health problems from prolonged exposure to chemicals and odor. This is one of the primary factors expected to hamper demand for household insecticides globally.
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Revenue from the global household insecticides market has been estimated to increase from US$ 10,958.0 Mn in 2015 to US$ 17,249.0 Mn by 2021 at a CAGR of 7.9%.
The global household insecticides market has been broadly segmented on the basis of purpose, distribution channel, packaging, composition, and region. On the basis of purpose, the global household insecticides market has been segmented into: mosquito & flies control segment (sub-segments include aerosol/spray, electric, coils, and others); rat & rodent control segment (sub-segments include aerosol/spray and baits); termite control segment (sub-segments include aerosol/spray and others); bedbugs & beetles control segment (sub-segments include aerosol/spray and others); and others segment (sub-segments include aerosol/spray and others). On the basis of the distribution channel, the market is segmented into online and offline channels. The offline channel segment is further sub-segmented into a hypermarket, supermarket, drug stores, convenience stores, neighborhood stores and others. Others sub-segment includes specialty and other traditional stores. On the basis of packaging, the market has been segmented into three types: small (50 ML– 200 ML), medium (200 ML– 500 ML), and large (500 ML and above). On the basis of composition, the market is segmented into natural and synthetic. The synthetic channel segment is further sub-segmented as N,N-Diethyl-meta-Toluamide (DEET), Hydroxyethyl Isobutyl Piperidine Carboxylate (Picaridin), and others. The natural segment is further sub-segmented as Citronella Oil, Geraniol, and Others. Finally, on the basis of region, the global household insecticides market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Revenue from the mosquito and flies control segment is expected to remain dominant owing to increasing demand for these insecticides in developing countries due to growing health concerns. Major players in this market are focused on developing eco-friendly products containing natural ingredients.
Asia Pacific has been estimated to account for the significant market share of 54.6% in 2015. Also, it is expected to record the highest growth during the forecast period due to greater demand owing to rapid urbanization and increasing awareness regarding home pest control in countries such as India and China.
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Godrej Consumer Products Ltd., Reckitt Benckiser Group, SC Johnson, Spectrum Brands Holdings, Earth Chemicals Co. Ltd., Jyothy Laboratories Ltd., and Dabur India Limited are some of the leading players in the global household insecticides market. Other major players include AMPLECTA Europe GmbH VIN Corporation and Jaico R.D.P. N V.
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Source:Persistence Market Research