The global mosquito repellent market size was valued at USD 6.51 billion in 2022 and is projected to grow to USD 9.30 billion by 2029, exhibiting a CAGR of 5.23% during the forecast period. The rising temperature on the earth due to growing greenhouse gases in the atmosphere has contributed to a rise in the mosquito population. This has elevated the need for products to repel mosquitoes, thus driving market augmentation. This information is provided by Fortune Business Insights™, in its report titled, “Mosquito Repellent Market, 2023-2029.”
Information Source:
https://www.fortunebusinessinsights.com/mosquito-repellent-market-104417
Drivers and Restraints:
Increasing Occurrence of Insect-Borne Diseases to Propel Product Demand
Growing incidences of insect-borne diseases, such as dengue and malaria, will propel product demand, thus driving market growth. The number of dengue and malaria cases and deaths recorded are very high in rural and semi-urban areas. According to a report published by the World Health Organization, approximately 14 million new cases of malaria were reported in 2020. This will propel product demand and market augmentation in the coming years.
On the other hand, skin reactions, such as swelling, rashes, eye irritation, and itching, associated with the use of mosquito repellents will act as challenges for businesses operating in this domain.
Regional Insights:
Asia Pacific to Dominate Backed by Rising Consumer Awareness Regarding Benefits of Mosquito Repellents
Asia Pacific held the majority of the market share in 2021, owing to growing consumer awareness regarding the benefits of the product. The launch of new product variants and increasing consumer acceptance of these products will aid regional market augmentation. Moreover, the increasing awareness regarding the pros of using the product among slum dwellers will contribute to market augmentation in this region.
North America is projected to record significant growth in the forthcoming years backed by increased production volume of products and growing research development activities by leading companies and governments. Thus, the surging demand for mosquito repellents and their availability will drive regional market expansion.
The South American market is slated to grow rapidly over the analysis timeframe stoked by the rise in insect-borne diseases in the region due to changing weather conditions. Additionally, the construction of hypermarkets and supermarkets is also attracting consumers to buy insect-repellent products of different types and contributing to regional market escalation.
Competitive Landscape:
Product Launches by Leading Players to Elevate Market Augmentation
Industry leaders often make tactical decisions such as collaborations, mergers acquisitions, and partnerships. One such move is the launch of new products to expand the product portfolio and meet ever-increasing consumer requirements. For instance, in August 2020, Bodyguard introduced a natural insect-repellent cream that is DEET-free and 100% plant-based. Neem and aloe vera are added to the lotion to provide hydration along with protecting against mosquitoes.
Key Industry Development:
- June 2022: Reckitt Benckiser Group PLC partnered with Amazon to enhance channel optimization, brand protection, advertising, and resolve supply chain issues. The company has also signed Amazon’s Climate Pledge to become carbon neutral by 2040, 10 years before the global deadline.
