The rising prevalence of insect borne diseases across developing nations has led to a considerable increase in the demand for body worn insect repellents. These products have seen strong demand from the agricultural sector and oil and mining industries.
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The rising health awareness among consumers is a key factor fuelling demand from the market. Demand for insect repellent is high across developing countries such as India and Brazil as they witness a high prevalence of insect borne diseases such as dengue, malaria, and yellow fever. According to the WHO, over 3 million cases of dengue were reported across Western Pacific, Southeast Asia, and the Americas in 2013. This number is expected to increase further over the next few years, thus creating opportunities for the body worn insect repellent market.
Due to the relief they provide, body worn insect repellents are used by people working in industries such as agriculture and oil and mining. These repellents shield people against insect bites. "Since they don't have any substitutes, demand for body worn insect repellents will continue rising through the forthcoming years," said a lead TMR analyst.
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Besides this, the market is expected to gain from the increasing distribution channels. "Body worn insect repellents are available in the market through various channels such as supermarkets, hypermarkets, online stores, convenience stores, and retail outlets. This augments sales opportunities for manufacturers," added the TMR analyst. Moreover, several companies have already entered into joint ventures with prominent ecommerce sites and online stores to sell their products across a wider audience. TMR expects these trends to augur well for the market in the near future.
The global body worn insect repellent market demonstrates a significantly high consolidation, with the top four players holding over 80% in the market in 2014. These include, Avon Products Inc., S.C. Johnson & Son, Inc., 3M, and Reckitt Benckiser Group plc, finds Transparency Market Research (TMR) in a new study.
In order to gain competitive advantage, the key players are focusing on product differentiation and innovation. Furthermore, several companies are actively participating in mergers and acquisitions to expand their product portfolio and business. TMR forecasts the competition prevailing in the market to intensify further as they explore newer strategies to gain competitiveness.According to TMR, the global body worn insect repellent market stood at US$230 mn in 2014. Exhibiting a CAGR of 7.4% between 2015 and 2021, the market is expected to reach US$378.3 mn by the end of 2021.