Home Insecticides Market to Reach $31.1 Billion, Globally, by 2032 at 7.5% CAGR: Allied Market Research

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Dec 08, 2023, 10:15 ET

PORTLAND, Ore., Dec. 8, 2023 /PRNewswire/ -- The global household insecticides market is experiencing growth due to rise in urbanization, changes in lifestyles, and increase in awareness about the health risks associated with insect-borne diseases, such as malaria and dengue.

Allied Market Research published a report, titled, "Household Insecticides Market by Product Type (Sprays, Aerosols, Coils, Electric Vaporizers, Creams and Lotions, Baits and Traps, Powders and Granules, and Others), Composition (Natural and Synthetic), and Application (Mosquitoes, Flies, Cockroaches, Ants, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global household insecticides market was valued at $15.2 billion in 2022 and is projected to reach $31.1 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.

Prime determinants of growth

The global household insecticides market is experiencing growth due to several factors such as increase in government initiatives promoting the use of insecticides in households and a surge in awareness of health and hygiene among consumers. However, the availability of alternative pest control methods hinders market growth to some extent. Moreover, advancement in insecticide release technologies offers remunerative opportunities for the expansion of the household insecticides market.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$15.2 billion
Market Size in 2032	$31.1 billion
CAGR	7.5 %
No. of Pages in Report	350
Segments Covered	Product Type, Consumption, Application and Region.
Drivers	Government initiatives promoting the use of insecticides in households. Rise in awareness of health and hygiene
Opportunity	Advancements in insecticide release technologies
Restraint	Alternative pest control methods Resistance in insects

Impact of the Russia-Ukraine War on the Household Insecticides Market

· Geopolitical tensions between Russia and Ukraine pose a risk to the household insecticides market. As major suppliers, any conflict could disrupt the supply chain, causing shortages and price increases. Currency fluctuations stemming from geopolitical uncertainty may impact importing costs for raw materials. Changes in consumer spending habits during conflicts may prioritize essential goods, altering demand for household insecticides.

· Market volatility may result from investor reactions to geopolitical events, influencing the financial well-being of companies in the sector. Governments may enact regulations in response, affecting manufacturing, distribution, and marketing. Overall, geopolitical events can have widespread economic consequences, impacting global growth and consumer spending on products like household insecticides.

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The cream and lotions segment is expected to grow faster throughout the forecast period

Based on the product type, the sprays segment held the highest market share in 2022, accounting for nearly one-fourth of the global household insecticides market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that household insecticide sprays are chemical formulations designed to eliminate or repel insects within residential settings. Typically dispensed in aerosol form, these sprays offer a convenient and effective method for controlling pests like mosquitoes, flies, cockroaches, and ants. They target the nervous systems of insects upon contact, providing swift and targeted action by comprising active ingredients such as pyrethroids or organophosphate. These are widely used in kitchens, bedrooms, and other living spaces, these sprays help safeguard against vector-borne diseases and prevent structural damage caused by pests.

However, the creams and lotions segment is projected to attain the highest CAGR of 8.2% from 2023 to 2032. This can be attributed to the fact that creams and lotions in household insecticides are specialized formulations designed for targeted application on surfaces to combat common household pests. These insecticidal formulations typically contain active ingredients like pyrethroids or neonicotinoids which are known for their efficacy against insects. The creams and lotions offer a convenient and precise method of application, allowing users to apply the insecticide to specific areas where pests are likely to gather or enter.

The natural segment is expected to lead the trial by 2032

Based on the consumption, the natural segment held the highest market share in 2022, accounting for more than half of the global household insecticides market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that natural household insecticides are organic formulations derived from plant extracts, essential oils, or minerals, serving as effective alternatives to synthetic chemical pesticides. These eco-friendly solutions harness the repellent and insecticidal properties of botanical compounds such as neem oil, citronella, and pyrethrum. They are widely used to control and eliminate common household pests like mosquitoes, ants, and flies. Natural insecticides offer a safer option for indoor use, minimizing potential health risks for humans and pets.

However, the synthetic segments is projected to attain the highest CAGR of 7.7% from 2023 to 2032. This can be attributed to the fact that synthetic household insecticides are chemical formulations designed to eradicate or control household pests like mosquitoes, cockroaches, and ants. These compounds are artificially created to deliver targeted and effective pest control. Typically, available in various forms such as sprays, powders, or gels, synthetic insecticides act swiftly to eliminate pests upon contact. Their formulation often includes potent active ingredients like pyrethroids or neonicotinoids, ensuring rapid and reliable results.

The flies segment is expected to grow faster throughout the forecast period

Based on the application, the mosquitoes segment held the highest market share in 2022, accounting for more than one-third of the global household insecticides market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that household insecticides play a crucial role in combating mosquitoes, serving as a frontline defense against vector-borne diseases. These insecticides, commonly available in various forms such as sprays, coils, and mats, contain active ingredients like pyrethroids that effectively target and eliminate mosquitoes. By disrupting the insects' nervous systems, these chemicals incapacitate mosquitoes, preventing their ability to transmit diseases like malaria, dengue, and Zika.

However, the flies segment is projected to attain the highest CAGR of 8.0% from 2023 to 2032. This can be attributed to the fact that household insecticides play a crucial role in controlling flies, serving as effective tools to maintain hygiene and prevent disease transmission within homes. These insecticides typically contain active ingredients like pyrethroids, which target the nervous systems of flies upon contact, leading to rapid paralysis and eventual death. Spraying or applying these insecticides in areas prone to fly infestations, such as kitchens and garbage disposal areas, proves highly effective in reducing fly populations.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global household insecticides market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The household insecticides market in the Asia-Pacific region has witnessed significant growth due to increasing awareness of vector-borne diseases and a rising demand for pest control solutions. Factors such as rapid urbanization, population growth, and changing lifestyles contribute to the expanding market. Key players are introducing innovative and environmental-friendly products to meet consumer preferences. In addition, government initiatives promoting health and hygiene further fuel market expansion. With a focus on mosquito repellents, insect sprays, and pest control devices, the Asia-Pacific household insecticides market is poised for sustained growth, driven by the ongoing need for effective and convenient solutions in the region.

Leading Market Players: -

· FMC GLOBAL SPECIALTY SOLUTIONS

· S.C. JOHNSON AND SON INC.

· DABUR INDIA LTD

· NEOGEN CORPORATION

· SPECTRUM BRANDS, INC.

· SHOGUN ORGANICS

· AMPLECTA AB

· RECKITT BENCKISER GROUP PLC

· JYOTHY LABORATORIES LTD.

· SUMITOMO CHEMICAL INDIA LTD

The report provides a detailed analysis of these key players in the global household insecticides market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/household-insecticides-market/purchase-options

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