Global Household Insecticide Market 2017-2021
About Household Insecticide
An insecticide is a substance that is used to kill insects. Household insecticide products are used to kill household insects. These products include insect sprays that are used in the kitchen, weed killers for the lawn, and mosquito repellents for indoor or outdoor use. A key factor that drives the market is an increase in consumer awareness on the use of household insecticides. People are increasingly aware of the deadly diseases that are caused by household insects. Many vendors are trying to spread awareness by investing in multiple marketing initiatives.
Technavio’s analysts forecast the global household insecticide market to grow at a CAGR of 5.47% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global household insecticide market for 2017-2021 . To calculate the market size, the report considers the retail sales of household insecticide products.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Household Insecticide Market 2017-2021
Technavio recognizes the following companies as the key players in the global household insecticide market: Godrej Consumer Products, Reckitt Benckiser, SC Johnson & Son, Spectrum Brands, and Sumitomo Chemical
Other Prominent Vendors in the market are: Coghlan's, Dabur, Enesis Group, GLOBE-Janakantha, Goodluck Syndicate, Herbal Strategi, HOVEX, Jyothy Laboratories, Kapi, DAINIHON JOCHUGIKU, PIC, and Quantum Health.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in advertisements, social media endorsements, and celebrity endorsements. Marketing is a key tool that helps foster the demand for household insecticides across the globe owing to the low degree of product and price differentiation among the existing brands. Marketing strategies play a vital role in influencing the sales of the vendor's product. Therefore, vendors are focusing significantly on advertisements and other marketing programs to differentiate their products from those of their competitors.”
According to the report, one of the major drivers for this market is Advancements in technology and innovations. Technological advances are driving the global household insecticide market. Key manufacturers in the market are concentrating on product development and innovative technologies to sustain in an intensely competitive environment. Innovative products offered by the vendors are likely to accelerate the market's growth and generate high sales revenue. New insecticides that are durable and safe are being launched in the global household insecticide market. Most of these products are multifunctional as they can kill more than one type of insect instantly. A new cockroach gel has been launched in the market, which kills cockroaches within a span of few hours. The poisoned cockroaches contaminate the nest, thereby killing other cockroaches. Thus, innovative products and technological advancements feature as the key drivers of the global household insecticide market.
Further, the report states that one of the major factors hindering the growth of this market is Low acceptance in rural regions. The low acceptance rate of mosquito repellent products in rural regions in countries like India and Africa is the prime challenge that hinders the growth of the market. Even though a number of initiatives are being undertaken to create awareness of the deadly diseases caused by mosquitoes, the use of repellents in rural areas of India is fairly low with about 27% penetration. Most consumers in rural areas prefer to use natural remedies over commercial mosquito repellents. In many African countries, consumers retort to traditional methods to prevent mosquito bites.
Godrej Consumer Products, Reckitt Benckiser, SC Johnson & Son, Spectrum Brands, Sumitomo Chemical, Coghlan's, Dabur, Enesis Group, GLOBE-Janakantha, Goodluck Syndicate, Herbal Strategi, HOVEX, Jyothy Laboratories, Kapi, DAINIHON JOCHUGIKU, PIC, and Quantum Health.