The global tick repellent market is poised to ward off pests and protect pets, with a projected market value of US$ 1.3 billion by 2032. This translates to a Compound Annual Growth Rate (CAGR) of 5.5% over the forecast period, building upon a solid foundation of growth witnessed between 2017 and 2021.
Pet Wellness Takes Center Stage
Several key factors are driving this market expansion:
- Booming Pet Ownership: The increasing number of pet adoptions and a growing focus on stray animal welfare are boosting the demand for tick repellents. As responsible pet ownership becomes a priority, tick protection becomes an essential first step.
- Pet Humanization on the Rise: The trend of treating pets like family members is leading to a rise in spending on pet healthcare and well-being. Millennial pet owners, in particular, are willing to invest in high-quality products like tick repellents.
- Increased Expenditure on Pet Care: Pet owners are increasingly prioritizing their furry companions’ well-being, leading to higher spending on pet food, healthcare, grooming, and other essentials. Tick repellents are a key part of this comprehensive care routine.
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A Look at Spending Trends
A 2018 independent study revealed a significant rise in pet-related expenditure, particularly in North America:
- Pet Expenditure Soars: Pet spending in the US has increased by more than 50% since 2013, with pet food and healthcare products leading the charge.
- Investing in Quality: This rise in expenditure indicates a growing focus on providing pets with high-quality products and services to ensure their health and well-being.
A Future Focused on Protection
The tick repellent market’s growth is driven by a growing awareness of tick-borne diseases and the importance of preventive measures. With a rising pet population and an increasing focus on pet health, the market for tick repellents is well-positioned for continued growth. Manufacturers who cater to the needs of pet owners, offering effective, convenient, and pet-friendly tick repellent solutions, are well-positioned to capture a significant share of this expanding market.
“Increasing adoption of tick repellent products for the prevention and treatment of tick-borne diseases in pet animals and potential risk of transmission in humans will fuel the growth in the market,” says an FMI analyst.
Key Takeaways:
- Dog segment is expected to hold a noteworthy revenue share of 42.7% in 2022.
- Based on method, sales of external tick repellents will remain high.
- In terms of product type, demand for chewable tick repellents will grow at a 6.4% CAGR over the forecast period.
- By sales channel, the online retailers segment will expand at a 9.2% CAGR over the assessment period.
- India will dominate the South Asia tick repellent market through 2032. Sales in the South Asia market are projected to grow at a 7.2% CAGR over the assessment period.
- The U.K. will account for 22.5% of the Europe tick repellent market share over the forecast period.
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Competitive Landscape
Leading manufacturers of tick repellent are focusing on aggressive promotional strategies, advertisements, and new product launches to improve sales. Key players are investing in mergers, acquisitions, and collaborations to expand their global presence.
Merck & Co., Inc., Zoetis Inc., Boehringer International GmbH, Bayer AG, Elanco Animal Health, Ceva Santé Animal, Perrigo Company plc., Central Garden & Pet Company, Virbac Corporation and The Hartz Mountain Corporation are some of the leading players operating in the market.
Global Tick Repellent Market by Category
By Product Type:
- Chewable
- Fluralaner
- Valerian
- Chamomile
- Others
- Spot On
- Methoprene
- Fipronil
- Moxidectin
- Others
By Pet Type:
- Dogs
- Cats
- Others (Birds, Horses, etc.)
By Method Type:
- Internal
- External
By Sales Channel:
- Modern Trade
- Convenience Stores
- Veterinary Clinics
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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