Tick Repellent Market Will Surpass $23.41 billion by 2031 - Rise in the awareness of pet health

The millennial and gen Z population are expected to drive the demand for the subscription and home delivery services for buying pet care

POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, August 17, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Tick Repellent Market," The tick repellent market size was valued at $13.73 billion in 2021, and is estimated to reach $23.41 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

Tick repellents includes the various oral and spot on products and medicines that can help to prevent and kill the different types of ticks and fleas that are parasitic in nature, from the skin/body of pet animals such as dogs, horses, cats, reptiles, birds, cows, goats, pigs, and various other animals that are popularly kept as pets at home. The surge in awareness among the people regarding the various diseases caused by the ticks such as Tularemia, Powassan, Lyme, and Ehrlichiosis is driving the demand for the tick repellents across the globe. With the rising adoption of pets along with the rising prevalence of tick-borne diseases among both the pets and humans, the penetration of various tick and flea repellent products is increasing significantly. The rising health consciousness and increasing expenditure on pet care products is a prominent factor that is expected to drive the global tick repellent market growth during the forecast period.

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Furthermore, with surging urban population, rising number of nuclear families, rising awareness regarding the health benefits of owning companion animals, and rising disposable income of the consumers are boosting the rate of pet adoption across the globe. According to the latest data from European Pet Food Industry Federation (FEDAIF), in 2021, around 92 million dogs and 113 million cats were there as pet in Europe. According to the survey of American Pet Product Association, the actual spending on pet in the year 2021 in the U.S. was $123.6 billion. With the increase in pet humanization and the increase in the pet adoption, there is a rise in the awareness of pet health due to which the tick repellent market is increasing rapidly.

Moreover, the rising demand for the organic tick repellents, especially in the developed nations like North America and Europe, where there is an increased consumer awareness regarding the benefits of eco-friendly and chemical free products is expected to drive the growth of the organic tick repellent industry. Moreover, with the rising investments by the manufacturers in the spreading awareness regarding the various types of ticks and tick-borne diseases is boosting the tick repellent market demand. For instance, Equip-4-Tick Resource Center launched by the Insect Shield, LLC., provides information and video library regarding the ticks and fleas associated diseases. Further, on the basis of method, the market is segregated into external and internal. Based on the application, the tick repellent market is segmented into dogs, cats, and others. Depending on the distribution channel, the market is divided into modern trade, veterinary clinics, convenience stores, and online sales. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

As per the tick repellent market forecast, by type, the spot on segment accounted for 63.4% of the tick repellent market share in 2021 and is expected to retain its dominance during the forecast period. . This growth is attributed to the increased adoption of over the counter tick repellent spot on products among the pet owners owing to its easy availability and easy to use feature. The availability of wider range of products and brands depending on the types of pets, has attracted a large customer base across the globe who have different pets and different requirements.

As per the tick repellent market trends, based on method, the internal is expected to be the fastest-growing segment. This is attributed to the rising awareness regarding the higher efficacy and effectiveness of the external tick repellents in treating and preventing the ticks and fleas. As per the study published in Veterinary Parasitology (a ninety day study), the oral medications were 99.9% effective in repelling ticks among the dogs.

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Depending on the application, the dogs segment dominated the market in 2021. This is attributable to the higher number of pet dogs across the globe and the increased vulnerability of dogs to the ticks and fleas. According to the latest data from European Pet Food Industry Federation (FEDAIF), in 2021, there were 92 million dogs as pet in Europe and according to the survey of the American Pet Products Association (APPA) in 2021, around 69 million households in America have dogs as their pet.

On the basis of distribution channel, the online sales is expected to be the fastest-growing segment owing to the rising adoption of the smartphones, growing penetration of internet, rising popularity of online retailers, and rise in the penetration of the subscription based pet product suppliers like Kong Box. The ease and conveniences associated with these subscription boxes is expected to boost the growth of this segment. Furthermore, according to the International telecommunication Union (ITU), at the end of 2021, around 4.9 billion global population had access to the internet and this number is rising rapidly.

Region-wise, North America dominated the market in 2021. This growth is majorly driven by the higher pet adoption in U.S. and increased expenditure on pets in the region. According to American Pet Product Association (APPA), in the year 2021, around $123.6 billion was spent on pets in U.S., out of which around $29.8 billion were used in the supplies and OTC medicines.

The players operating in the global tick repellent industry have adopted various developmental strategies to expand their market share, exploit the tick repellent market opportunity, and increase profitability in the market. The key players profiled in this report include Bayer Aktiengesellschaft, Beaphar B.V., Boehringer Ingelheim International GmbH , Central Garden & pet company., Ceva

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David Correa
Allied Analytics LLP
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