Innovative Formats and Specialized Products Will Boost Up the Household Insecticide Industry in India: Bonafide Research
The sales of various household insecticide products are increasing due to rising awareness about the benefits of such products, increase in the incidence of vector borne disease in the country, growing trend of premiumization, availability of various brands, innovation, marketing strategies of companies and rising disposable income in the country.
Vadodara, India, March 1, 2016 (Newswire.com) - India is witnessing the continuous growth from the last few years, which in turn led to a sharp increase in the income of the middle class & lower middle class segment, which eventually lead to the enlarge in discretionary spending. The segment of mosquito repellent products is generating maximum revenue for household insecticide market which is available in coil, mats, liquid vaporizers, spray, etc. The household insecticide products are essential as it is the most important to maintain hygiene in kitchen and rooms within the home. Liquid vaporizers are widely used among people to get rid from mosquito bites. Also, the mosquito repellent sprays are getting momentum in urban India. The brands such as Good Knight, All Out, and Mortein have launched new format called paper based mosquito repellent at low price point with focus on emerging rural markets that will attach the growth to the mosquito repellent market and accordingly overall home insecticide industry in India. Specialized home insecticide products these days are used by many people who reside near river canal, lake, rainy gutter surrounding there, greenery, etc where the chances of mosquito breeding is high and the other insects also come from those sources. However, the penetration is still low in India for household insecticide products whereas the mosquito repellent products are growing rapidly among consumers because of its easy and convenient use.
According to recently published report of Bonafide Research “India Household Insecticide Market Outlook 2021”, household insecticide market is growing at a CAGR of 5% over five years. The growing middle class and increasing disposable income provides many opportunities in the household insecticide Industry as people are moving from traditional coils to liquid vaporizers. The increase in mosquito repellents and cockroach repellents consumption is growing primarily due to its liquid vaporizers, sprays, and gel segment as well as its various variants & formats which provides instant result with the minimal efforts.
Innovation in formats, specialized products and product developments hold the leading brands and products in the country, and these products are the most often used to get prevention from various home insects. The people become more health conscious and become aware about the disease causes from insects. As a result the various formats are available in the market for various insect repellents as the multitude of insects and pests that need to be exterminated and most insecticides are used extensively in the kitchen and mosquito repellents are used throughout the home so that people are preferred to choose their product according to their particular intention. Moreover, the growing trend of organic/herbal home insecticide products ensures the new category within the market due to health conscious people show more trust on natural home insecticide products to repel home insects. As a result, the various innovative and specialized home insecticide products have been driving the growth of brands as well as overall market from the decades and this will also remain the key factors of the industry growth in near future.