Albany, NY -- (SBWIRE) -- 12/28/2017 -- The U.K. market for insect repellents demonstrates a highly consolidated competitive landscape, finds a report by Transparency Market Research (TMR). The top four participants, namely BASF SE, Avon Products Inc., DuPont, and S. C. Johnson & Son, collectively, held more than 60% of this market in 2016. With the leading players aggressively focusing on product innovation and advancements the current offering in order to gain greater visibility, the competition within this market is expected to intensify further in the years to come, states the report.
As per the report, the U.K. market for insect repellents, stood at US$66.4 mn in 2016, is expected to rise at a healthy CAGR of 4.90% between 2017 and 2025 with the opportunity in this market surging to US$100.0 mn by the end of the period of the forecast.
Demand for Non-Body Worn Insect Repellents to Remain High
Non-body worn insect repellent products held the majority market share in 2016 and are anticipated to witness a steady growth rate during the forecast period, thanks to the high demand for coils, mats and sheets, liquid/electric vaporizers, and aerosols among consumers. These products provide protection from dangerous insect-borne diseases such as malaria, dengue and yellow fever among others.
Body worn insect repellent products are anticipated to witness a high-paced growth during the forecast period due to the increasing consumer awareness about the safety aspect of these products. These products are mostly made of natural ingredients such as citronella oil and eucalyptus oil, which have minimal toxicity levels and do not have any side effects when applied on the skin. Sprays are also manufactured from these natural raw materials and are considered to be safe for children, with little or no side effects, states the research report.
Increasing Demand Efficient Insecticides to Create Growth Opportunities
"The increasing demand for new and innovative insecticides containing natural ingredients is likely to create significant growth opportunity for the insect repellent market in the U.K. over the forthcoming years," says a TMR Analyst. Manufacturers operating in this market are constantly engaged in extensive research and development activities to develop natural and safer products compared to synthetic products.
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These companies are focused on manufacturing conceal mosquito repellent candles instead of the standard mosquito repellent candles made from citronella. As conceal mosquito repellent candles are natural and have proven to be more effective than candles made from citronella oil or eucalyptus oil and, thus, act as inhibitors and not as an insect repellent, this demand is likely to increase substantially over the next few years. As a result, the overall market is also projected to witness a remarkable growth during the forecast period. However, the stringent government rules and regulations regarding the usage of chemicals may hamper the market's progress in the near future, states the report.