Growing awareness of vector-borne diseases is driving the market growth for household insecticides. According to the World Health Organization, around 700,000 deaths occur every year due to vector-borne diseases, with malaria accounting for one-fifth of all global mortality. Government initiatives to prevent the spread of mosquitoes and chiggers are also driving the market, as are the technological advances in insecticide discharge technology. However, adverse effects of overexposure to these pesticides and stringent regulations are expected to limit the growth of the market.
Market Dynamics:
Growing cases of insect-borne and communicable diseases such as malaria and dengue is expected to propel growth of the global Household Insecticides Market over the forecast period. Increasing prevalence of such diseases is driving the demand for household insecticides. For instance, according to the World Health Organization (WHO) World malaria report, in 2020, the disease affected 241 million people all over the world and caused 627 000 deaths in the same year, which was an increase of 69 000 deaths from previous year.
However, harmful side effects on human health due to overexposure and growing resistance of vectors to insecticides is expected to hinder growth of the global household insecticides market over the forecast period.
Impact of COVID-19:
The epidemic of COVID-19 affected several industries worldwide. The outbreak of virus spread across more than 200 countries and to control the virus spread many of the countries implemented stringent regulations and restrictions on movements. Thus, various market activities such as manufacturing, supply and distribution were disrupted and demand for products declined during this period. This ultimately affected the global economy. Thus, the COVID-19 pandemic affected the global household insecticides market.
Key Takeaways:
- The global household insecticides market is expected to grow, with a CAGR of % over the forecast period due to technological development in insecticide releasing devices such as aerosols, gels, and sprays. For instance, in July 2021, SC Johnson launched first-of-its-kind Pest Index created by AccuWeather and designed for a season activation with SC Johnson to help families plan for times such as park trip and backyard BBQ.
- Asia Pacific is anticipated to witness strong growth in the global household insecticides market over the forecast period due to increased demand for such insecticides due to rising population, growing disposable income, increasing urbanization in the region.
- Major players operating in the global household insecticides market are Zapi SPA, Amplecta AB, Reckitt Benckiser, BASF SE, Sumitomo Chemical, Bayer AG, Spectrum Brands, Godrej Consumer Products, SC Johnson, and HPM Chemicals and Fertilizers Ltd.
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