The Household Insecticides Market is estimated to be valued at USD 18.34 billion in 2024, exhibiting a CAGR of 6.4% over the forecast period (2024-2031)
Growing concerns about the spread of vector-borne diseases and increasing pest infestation are boosting the demand for household insecticides. Furthermore, increasing household spending on home hygiene products is also fueling the market growth.
Changing climatic conditions have led to the rapid spread of various pests including mosquitoes, flies, cockroaches, and other insects. This has elevated the need for effective pest control measures among households. Moreover, rising per capita income has increased the household expenditure on home and personal care products including various insecticides. Growing awareness about vector-borne diseases among consumers is also propelling the sales of mosquito coils and electric racket across regions. Major players offering innovative product formulations with inherent benefits should assist them in gaining market share going ahead.
Increasing Prevalence of Insect-Borne Diseases is Driving the Demand for Household Insecticides
One of the major drivers for the household insecticides market is the rising prevalence of insect-borne diseases. Mosquitoes, flies, cockroaches, and other insects act as vectors for transmitting deadly diseases like malaria, dengue, chikungunya, zika virus, etc. According to the World Health Organization (WHO), malaria infects over 200 million people each year resulting in around 400,000 deaths. The risk of contracting these diseases has significantly increased with rapid urbanization and changing weather patterns. This has boosted the sales of various household insecticide products like aerosols, coils, mats, and liquid vaporizers which help prevent the breeding of insects and check the spread of diseases.
Growing Consumer Awareness about Health Hazards Caused by Insects is Propelling Market Growth
Another key growth driver is the increasing awareness among consumers about various health issues caused by insects other than diseases. Cockroaches, ants, and other insects can contaminate food and water sources leading to food poisoning. Their allergens and droppings are also known to trigger asthma attacks. Some insects like bed bugs cause skin irritation and allergic reactions. To get protection from such hazards, people are extensively using sprays, baits, mats and vaporizers containing insecticides both indoors and outdoors. Manufacturers are further educating consumers about safety & hygiene through various awareness campaigns which is positively influencing the sales of household insect repellents.
Price Fluctuations of Raw Materials Restrain the Market Expansion
Fluctuating prices of raw materials required for manufacturing household insecticides pose a major challenge to market players. The costs of active ingredients extracted from plants and chemicals sees frequent ups and downs depending on various global and regional factors affecting their supply. Any rise in raw material costs compel manufacturers to increase the prices of finished products. This sometimes discourages customers from making repetitive purchases. To offset rising raw material expenses, companies try to improve productivity and find alternative sourcing options. However, unstable commodity costs continue to have a dampening impact on the overall industry progress.
Stringent Regulations on Toxic Ingredients Limit Product Innovation
Growing health and environmental concerns regarding the long-term effects of toxic chemicals used in insecticides have led regulators across countries to impose strict norms. Products containing ingredients like DDT, lindane, and chlordane which are suspected to cause cancer and harm the ozone layer have been banned. There are also limitations imposed on the concentration of certain approved chemicals in formulations. Complying with the changing rules necessitates constant reformulation by companies. Developing new, eco-friendly active molecules involves high research expenses which increase the cost of goods. Additionally, getting regulatory approvals for novel products is a long-drawn process. Therefore, tightening norms curb innovative efforts and product premiumization to some extent.
Rising Health Awareness Boosts Demand for Natural and Herbal Alternatives
One of the major opportunities for market participants is the increasing preference of consumers towards herbal and plant-based household insect repellents due to rising health consciousness. Synthetic chemical-filled products are now considered unsafe for constant use. This changing perception favors the uptake of natural alternatives derived from essential oils of herbs, citronella, eucalyptus, lavender, etc. which are perceived as milder on the human body as well as the environment. Companies offering botanical solutions with high efficacy stand to benefit tremendously from this growing demand. Manufacturers are developing effective, gentle formulations based on indigenous plant extracts to tap into this lucrative green category.
Surge in Nuclear Families in Urban Areas Creates New Demand Pockets
Another key opportunity for the industry stems from surge in the nuclear family culture in urban centers due to myriad socio-economic factors like job requirements, education needs, etc. Compared to joint families, nuclear households encounter greater insect issues due to smaller living spaces and lack of domestic help. This has led to higher per capita consumption of insect control products among urban nuclear families. Moreover, fast-paced lifestyle leaves little time for regular cleaning and upkeep tasks, prompting increased reliance on commercial defense solutions. This emerging consumer segment offers players scope for tailored new product introductions and marketing strategies to expand their customer base.
Link - https://www.coherentmarketinsights.com/market-insight/household-insecticides-market-4944
Key Developments
- In July 2024, Godrej Consumer Products, a leading Indian consumer goods company, announced the development of an indigenous mosquito repellent molecule. This breakthrough innovation is expected to revolutionize the mosquito repellent market in India and potentially worldwide.
- In 2023, ADAMA, a global leader in crop protection solutions, launched its first off-patent CTPR (Chlorothalonil) based offerings in India. This significant development marks a milestone in the Indian agricultural sector, providing farmers with effective and affordable pest control options.
- In 2020, Bharat Insecticides Limited successfully attracted investments from Mitsui Co. Ltd. and Nippon Soda Co. Ltd. by facilitating their acquisition of majority shares in the company. This strategic partnership aims to bolster Bharat Insecticides Limited's growth trajectory as it seeks to expand its business across India.
- In 2020, Insecticides India Limited made a significant stride in its growth strategy by launching three new products with enhanced quality.
Key Players
Godrej Consumer Products Ltd., Reckitt Benckiser Group PLC, S. C. Johnson & Son., Spectrum Brands Holdings, Dabur India Limited, Amplecta AB, Jyothy Laboratories Ltd., Earth Chemicals Co. Ltd., Jaico RDP NV., Sumitomo Chemical India Ltd., Rallis, FMC Global Specialty Solutions, Natural INSECTO Products, Inc., Nicols International Sa., S.C. Johnson & Son, and Shogun Organics
