Published By : 11 May 2016 | Published By : QYRESEARCH
The insect repellent market in Europe is on the rise. The growth in the market is due to rising incidences of insect borne diseases. The high demand for insect repellent is also driving the market. A demand for natural insect repellent is expected to open new doors of opportunity in the market and will boost the market.
According to a market intelligent company, Transparency Market Research, the Europe insect repellent market was valued at US$1.40 bn in 2014, and is expected to reach US$1.82 bn by 2023, expanding at a CAGR of 3.0% from 2015 to 2023.
Increasing Availability of the Products Promotes Insect Repellant Market
Insect repellent market is reaching a new high owing to the various new marketing techniques. Insect repellents are sold through online stores, super markets, and convenience stores. The variety, discount and marketing strategy as a whole is ducting the market of insect repellent.
However, stringent regulations laid down by the government will hamper the market. Various environmental agencies have implemented several standards for safety to conclude if an insect repellent is harmless for humans. This may act as a huge challenge for the players in the market.
Oils and Cream Contribute the Highest to Market in 2014
The Europe insect repellent market is segmented on the basis of body worn insect repellent into apparel, oils and creams, stickers, patches, and aerosols. If these the oils and cream segment contributed the highest in 2014. The growth was mainly due to utilization of these products for protection against lice, mites, mosquitoes, and ticks. By revenue, non-body worn insect repellent was the largest contributor in the insect repellent market in Europe in 2014 and accounted for market share of approximately 96%. In terms of revenue, Italy was the largest contributor in the insect repellant market in 2014, accounting for a market share of around 20%.