PORTLAND, Oregon, June 10, 2020
- Increase in health concerns and literacy levels, cost efficiency of mosquito repellent products, and rise in incidences of mosquito borne diseases drive the global mosquito repellent market
PORTLAND, Oregon, June 10, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Mosquito Repellent Market by Type (Coil, Spray, Cream & Oil, Vaporizer, Mat, and Others) and Distribution Channel (Hypermarket/Supermarket, Independent Stores, Online, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global mosquito repellentmarket garnered $4.1 billion in 2020, and is estimated to reach $6.0 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in incidences of mosquito borne diseases, increase in health concerns and literacy levels, and cost efficiencyof mosquito repellent products drive the growth of the global mosquito repellent market. However, fake mosquito repellents flooded in the city markets hinders the marketgrowth. On the other hand, increase in the demand of herb-based repellents, aggressive marketing, and positioning strategiesare anticipated to offer new opportunities in the coming years.
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The spraysegment to maintain its lead status-
Based on product type, the spraysegment accounted for more than one-third of the global mosquito repellent market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due tohigh-performance efficiency of spray.However, the vaporizeris estimated toportray the highest CAGR of 6.8% from 2020 to 2027. The vaporizers are smoke free, cost-effective, and can work indoorswhich drive the growth of the segment.
The independent storessegment to maintain its leadership position-
Based on distribution channel, the independent storessegment contributed to the highest market share with more than two-fifthof the global mosquito repellent market in 2019, and is estimatedto maintain its leadership position during the forecast period. Independent stores provide flexible and reliable options to customers which helps to drive the growth of this segment. However, the online sales channel segment is estimated to generate the fastest CAGR of 7.8% from 2020 to 2027. This is attributed toincrease in penetration of various online portals in developing regions and rise in number of offers or discounts to attract the consumer.
Asia-Pacific to dominate the market,North America to grow at a significant pace by 2027-
Based on region, Asia-Pacificaccounted for the highest share based on revenue, holding for nearly halfof the global mosquito repellent market in 2019, and is projected to maintain its dominant position throughout the forecast period.Moreover, the same region is estimated to generate the fastest CAGR of 6.5% from 2020 to 2027. This is attributed toincrease in number of vector borne diseases in Asia-Pacific region. Furthermore, North America region is anticipated to manifest the CAGR of 4.5% from 2020 to 2027.
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