Global Pet Insect Repellent Market Report 2022 to 2027: North America Leads the Market – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Pet Insect Repellent Market-Growth, Trends, Impact of COVID-19, and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.
The global pet insect repellent market is expected to grow at a CAGR of 4.4% during the forecast period (2022-2027).
Merck and Co Inc.
Elanco Animal Health Incorporated
Boehringer Ingelheim International GmbH
The Hartz Mountain Corporation
Tianjin Ringpu Biotechnology
Central garden and pet
Main market trends
Increased focus and spending on pet health
The pet insect repellent market is benefiting immensely, due to the increase in animal health expenditure per capita. For example, according to the American Pet Product Association (APPA), dog owners in the United States spent an average of $1,880 per dog over the previous 12 months, which includes pet food, treats, toys, vitamins, grooming, visits to veterinary services and dog walking / kennel. Cat owners over the same period spent an average of US$902 per feline.
Out of all of them, vet bills are usually the costliest segment of the budget for owning a pet, and the lack of access can be prohibitive for many people.
What’s more, in the last ten years, US spending on pets has more than doubled. For example, in 2010, the total money spent on pets was approximately $45.53 billion. Over the next decade, that spending multiplied to $103.6 billion a year. The largest annual increase occurred between 2017 and 2018, when spending rapidly jumped from $69.51 billion to $90.5 billion, a growth of 30%.
Similarly, in Canada, according to the Ontario Veterinary Medical Association (OVMA), the annual cost of caring for a puppy was CAD 3,242. According to the Centers for Disease Control and Prevention, in the 13 years from 2004 to 2016, seven new germs spread by the bite of an infected tick have been discovered in the United States alone. These germs can also infect humans, alongside dogs, and cause zoonotic diseases. As the prevalence of various diseases in pets increases, the demand for diagnostic imaging procedures and supplements to prevent disease is increasing across the country.
North America dominates the market
North America is the leading market for pet insect repellents, occupying around 43.5% of the total market in 2021. The United States ranks first in overall pet population in the world. According to APPA’s 2021-2022 National Pet Ownership Survey, 70% of U.S. households own a pet, up from 67% in the 2019-2020 survey. In fact, 14% of total respondents got a new pet during the pandemic. Additionally, spending on pets has increased over the past year in the country, with 35% of pet owners spending more on their pets/pet supplies, including food, pet products wellness related and other pet care items including insect repellents which is expected to lead the market in the country.
The incidence of insect attacks on pets in the country, for example, in 2020 an aggressive swarm of bees fatally attacked three dogs in Arizona, will lead to increased demand for insect repellents to protect and ensure pet welfare.
Also, in Canada, many products on the market claim to protect against insect bites. Only those that have been approved by the government for their safety and effectiveness are allowed for use in the country. In Canada, West Nile virus and Lyme disease are health concerns for pets. Medically formulated insect repellents are prevalent in the country.
For example, Mozi-Q, a homeopathic formulation made by Xerion Dispensary, a manufacturing company based in Calgary, Alberta, has brought to market a Canadian-made insect repellent that provides safe and natural solutions to everyday pet problems. . Thus, increasing number of pet owners and spread of insect-borne diseases among pets is expected to drive the demand for pet insect repellents during the forecast period.
Main topics covered:
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Constraints
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of new entrants
4.4.2 Bargaining power of buyers/consumers
4.4.3 Bargaining power of suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type of pet
5.2 Type of insect
5.3 End User/Application
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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