Portland, OR, Aug. 25, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global tick repellent market generated $13.73 billion in 2021, and is estimated to reach $23.41 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $13.73 Billion |
| Market Size in 2031 | $23.41 Billion |
| CAGR | 5.5% |
| No. of Pages in Report | 300 |
| Segments covered | Type, Method, Application, Distribution Channel, and Region |
| Drivers | Surge in the prevalence of ticks and flea borne diseases in animals |
| Rise in adoption of pets | |
| Increase in awareness regarding the harmful health effects of fleas and ticks on and human health | |
| Surge in popularity of subscription boxes | |
| Opportunities | Growth in technological advancements and research & developmental activities which result in the development of various innovative chewable tick repellents |
| Increased awareness regarding sustainability and environment safety which led to the rise in adoption of organic tick repellents | |
| Restraints | Harmful effects associated with the use of chemical-based tick repellents on pets |
Covid-19 Scenario:
- The COVID-19 pandemic led to a sudden spike in pet adoption across the globe. This led to the increased demand for the tick repellents in the global market.
- However, there were disruptions in the supply chain during the initial period of the pandemic and it had a certain negative impact on the market.
- The increased penetration of online stores which offer a wide variety of products contributed significantly toward increasing the sales of tick repellents, thereby boosting the market growth.
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The report offers a detailed segmentation of the global tick repellent market based on type, method, application, distribution channel and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the spot-on segment held the highest share in 2021, contributing to more than three-fifths of the global tick repellent market, and is likely to maintain a prominent growth during the forecast period. However, the chewable segment is likely to manifest the highest CAGR of 5.7% from 2022 to 2031.
Based on method, the external segment held the highest share in 2021, accounting for more than three-fifths of the global tick repellent market, and is likely to maintain a noteworthy growth during the forecast period. However, the internal segment is expected to manifest the fastest CAGR of 5.7% from 2022 to 2031.
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Based on application, the dogs segment was the largest market in 2021, contributing to more than one-third of the global tick repellent market. However, the cats segment is estimated to witness the fastest CAGR of 5.9% during the forecast period.
Based on distribution channel, the veterinary clinics segment held the largest share of more than one-third of the global tick repellent market in 2021 and would maintain its dominance during the forecast period. However, the online sales segment is estimated to witness the fastest CAGR of 6.4% during the forecast period. The report also discusses modern trade and convenience stores segments under this category.
Based on region, North America accounted for the highest share of around one-third of the global tick repellent market in 2021 and would lead the trail by 2031. However, Asia-Pacific market is projected to portray the fastest CAGR of 6.5% during the forecast period. The research also analyzes regions such as Europe and LAMEA.
Leading players of the global tick repellent market analyzed in the research include Bayer Aktiengesellschaft, Beaphar B.V., Boehringer Ingelheim International GmbH, Central Garden & pet company, Ceva Santé Animale, EBOS Group Limited, Mars, Incorporated, Merck & Co. Inc., Perrigo Company plc, PetEdge, Petlife International Ltd., Sergeant's Pet Care Products Inc., The Hartz Mountain Corporation, Virbac and Zoetis Inc.
The report analyzes these key players of the global tick repellent market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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