Global Household Insecticides Market is valued to reach USD 16.4 Billion by 2024, growing at CAGR of 5.2% over forecast period 2020–2026. Rapid urbanization, increasing incidence of vector-borne diseases, growing emphasis on the control of insect vectors and rising unhygienic environmental conditions are key factors driving the market growth.
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Market Trends, Drivers, Restraints, and Opportunities:
- Increase in communicable diseases such as malaria and rise in emphasis on the control of insect vectors by local and national government bodies are expected to drive the market.
- Surge in the demand for safe and environment-friendly insecticides is creating opportunities in the market.
- Rise in awareness about the risks associated with vector borne diseases is expected is encouraging a number of people to purchase household insecticide. This, in turn, is driving the growth of the market.
- Government initiatives are prompting the use of household insecticides. Moreover, advancements in insecticide release technology such as aerosols and gels are factors driving the growth of the market.
- Adverse effects on human health due to overexposure and increase in resistance of insecticides are likely to hamper the growth of the market.