Natural Insect Repellent Market in Good Shape in 2029; COVID-19 to Affect Future Growth Trajectory
VALLEY COTTAGE -- Rising industrialization across the globe is projected to bode well for the global natural insect repellent market through the course of forecast period (2019-2029). Moreover, the market will witness strong growth at approximately 6% CAGR through the projection period. On that premise, the market will grow 1.9X through 2029, projects FMI.
"Various side-effects caused by conventional insect repellents, such as skin and eye reaction is limiting the growth of this segment. Countries all over the world collectively report 200 million malaria cases every year as per World Health Organization. This factor is supporting the growth of natural insect repellent market, especially in Asia and Africa," concludes FMI.
Key Takeaways of Natural Insect Repellent Market Study
- Sprays/aerosols continue to be top-selling category in terms of product type.
- Oil of lemon eucalyptus will remain highly preferred ingredient by prominent manufacturers.
- Europe and North America will lead the global natural insect repellent market through 2029.
- Middle East & Africa (MEA) and Asia Pacific will offer lucrative opportunities for manufactures over the forecast period.
Natural Insect Repellent Market - Key Growth Factors
- Rising sentience among consumers for natural insect repellents is stimulating market growth.
- Heightening prevalence of vector-borne diseases continues to fuel the demand for natural insect repellents.
- Rapid climatic changes will drive the growth of global natural insect repellent market through 2029.
- Flourishing real estate industry remains major growth propeller of natural insect repellent market.
Natural Insect Repellent Market - Key Restraints
- Counterfeit products are threatening the reputation of top players in the natural insect repellent market.
- Natural insect repellents are considered less effective which is constraining market growth.
Impact of COVID-19 on Natural Insect Repellent Market
The COVID-19 pandemic has slowed down the services sector activity in view of dented demand across the globe. The discretionary spending by the consumers worldwide is dampening the growth of natural insect repellent market in the wake of current outbreak. COVID-19 has posed economic challenges which the government is trying to combat. Hence, natural insect repellent market is experiencing a slowdown on account of strict lockdown measures. The priority of businesses has shifted to surviving the economic fallout caused by Coronavirus crisis. The pandemic has put a break on the otherwise upward-moving trend which will continue through later half of 2020. The market will gradually recover during first half of 2021.
Competitive Landscape
Some of the prominent stakeholders profiled in this FMI study include, but are not limited to, Enesis Group, Honasa Consumers Pvt. Ltd., Dabur India Limited, S. C. Johnson & Son, Inc., First Step Digital Pvt. Ltd., Homs LLC, Quantum, Inc., Godrej Consumer Products Limited, Spectrum Brands, Inc., and Reckitt Benckiser Group plc. Top players must adopt an integrated communication strategy which involves leveraging social media platforms such as Twitter and Instagram to promote the usage of natural insect repellents. Meanwhile, they must continue to capitalize on conventional communication media such as television advertisement and printed media as well.
Press-release Source -https://www.accesswire.com/585388/Sales-of-Natural-Insect-Repellent-Poised-at-Over-a-Billion-Dollar-Mark-Through-2029-COVID-19-a-Temporary-Barrier-to-Market-Growth-FMI
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