The global household insecticides market is expected to experience significant growth in the forecast period due to the increasing prevalence of vector-borne diseases and rising awareness about the importance of maintaining a hygienic living environment. The market is also driven by the growing demand for eco-friendly and natural insecticides, online distribution channels, and the use of synthetic insecticides.
New Delhi, April 17, 2023 (GLOBE NEWSWIRE) — Global household insecticides market was valued at US$ 12,693.6 million in 2022 and is projected to generate a revenue of US$ 20,976.7 million by 2031, growing at a CAGR of 6% during the forecast period 2023–2031.
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The global household insecticides market is primarily driven by the need to prevent insect-borne diseases that pose a threat to human health. Insect-borne diseases are a significant public health issue worldwide, and they can cause severe illness, disability, and even death. Mosquito-borne diseases like malaria, dengue fever, and Zika virus are prevalent in many regions, while tick-borne diseases like Lyme disease are prevalent in others. Therefore, households require effective insecticides to eliminate and control the spread of these insects.
Insect-borne diseases pose a significant threat to public health globally, with more than half of the world’s population at risk of contracting diseases such as malaria, dengue, yellow fever, and Zika virus, according to the World Health Organization (WHO). Malaria is one of the most significant insect-borne diseases, with an estimated 233 million cases worldwide in 2021. The disease is responsible for approximately 409,000 deaths annually, primarily affecting children under five years of age in sub-Saharan Africa. Dengue fever is also prevalent, with an estimated 390 million infections worldwide each year, and severe dengue can be fatal, affecting around 500,000 people. Another mosquito-borne viral disease, chikungunya, has been reported in more than 60 countries and was estimated to have caused 2 million cases worldwide in 2021.
In the United States household insecticides market, Lyme disease is the most common vector-borne disease, with an estimated 476,000 cases each year, transmitted by ticks. These statistics highlight the need for effective control measures such as household insecticides to prevent the spread of insect-borne diseases and protect public health.
The demand for household insecticides is also influenced by various factors, including population growth, urbanization, and rising disposable incomes. With increasing urbanization and population growth, more people are living in areas where insects thrive, such as cities and suburbs. Moreover, as disposable incomes rise, consumers are willing to spend more on insecticides to maintain a pest-free environment in their homes.
Key Findings in the Global Household Insecticides Market
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Product Form: includes essential oils, sprays, baits, and others. Essential oils are expected to dominate, growing at a CAGR of 7.6% during the forecast period.
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Composition: Synthetic insecticides are expected to dominate, accounting for 57% of the market share.
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Active Ingredients: Permethrin is expected to dominate the global household insecticides market, accounting for over 8% of the market share.
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Application: Mosquitoes are expected to dominate with a 25% market share by 2031.
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Distribution Channel: The online segment is expected to grow at the fastest CAGR of 4.8% during the forecast period.
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Growing Demand for Eco-Friendly and Pet Safe Household Insecticides Market
The demand for eco-friendly and pet-safe household insecticides is on the rise globally, driven by increasing concerns for pet safety and the environment. According to the American Pet Products Association (APPA), approximately 85 million households in the United States own a pet, with dogs and cats being the most common. In Europe, there are approximately 85 million dogs and 66 million cats, with pet ownership growing each year.
As pet ownership continues to grow, there is a corresponding increase in demand for pet-safe household insecticides. Many conventional insecticides can be harmful to pets if ingested, inhaled, or absorbed through the skin, leading to adverse health effects. In response to this, many manufacturers in the global household insecticides market are developing eco-friendly and pet-safe insecticides that use natural and non-toxic ingredients, which are safer for pets and the environment.
This shift towards eco-friendly and pet-safe products is expected to boost market growth for household insecticides over the forecast period. Consumers are increasingly willing to pay a premium for safer and more sustainable products, and this trend is expected to continue. Moreover, as more people adopt pets and become aware of the potential hazards of conventional insecticides, the demand for pet-safe insecticides is expected to grow further.
Where is the Global Household Insecticides Market Heading?
Insecticide manufacturers will continue to face challenges in developed markets, where mature consumers are increasingly concerned about the health and environmental impacts of chemical products. In contrast, rapid urbanization and economic growth in emerging markets are creating a large and growing population of potential insecticide users who are less aware of these issues.
As a result, Astute Analytica expects that companies will focus their efforts on developing products for emerging markets and on positioning themselves as providers of safer, more environmentally friendly solutions in developed markets.
In addition, technological advancements are expected to play a significant role in shaping the future of the household insecticides market. For example, there is growing interest in developing insecticides that use natural or organic ingredients, which are perceived as safer and more environmentally friendly than traditional chemical-based products.
Global Household Insecticides Market is Highly Consolidated with Top 8 Players Hold Over 75% Revenue
The household insecticide industry is highly consolidated, with the top 8 companies accounting for over 75% of industry revenue. The largest player in the industry is Rentokil, with a market share of 16%. Other major players include Rollins, Bayer AG, and BASF SE.
Rollins is another major player in the household insecticide industry, with a market share of around 15%. The company is based in the United States and operates under the brand names Orkin, Western Pest Services, and HomeTeam Pest Defense. Rollins has a strong reputation for providing high-quality pest control services to residential and commercial customers. The company offers a wide range of solutions to control pests such as ants, termites, mosquitoes, and rodents. Rollins also uses advanced technologies like thermal imaging and infrared cameras to detect and eliminate pests in hard-to-reach areas.
The company has also made efforts to develop more environmentally friendly and sustainable solutions to pest control in the global household insecticides market. For example, Rollins offers an EcoControl program that uses integrated pest management (IPM) techniques to minimize the use of chemical pesticides and instead relies on natural solutions like pheromone traps, exclusion techniques, and biological controls.
The high degree of consolidation in the industry limits competition and gives the largest companies considerable pricing power. This, combined with rising raw material costs, has led to higher prices for consumers. For example, the price of Raid ant & roach spray increased by nearly 10% between 2014 and 2017.
Despite these challenges, the household insecticides market is expected to grow at a moderate pace over the next 8 years. Rising income levels and population growth will result in increased demand for pest control products. In addition, new product developments, such as baits and traps that use fewer toxic chemicals, will help to boost sales.
Some of the Top Market Players Are:
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BASF SE
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Bayer AG
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FMC Global Specialty Solutions
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Johnson & Son
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Natural INSECTO Products, Inc.
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Spectrum Brands Holding
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Sumitomo Chemical Co.
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Shogun Organics Ltd.
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Terminix
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Rentokil
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Ecolab
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Rollins, Inc.
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Other Prominent players
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