Tick repellent market to surpass $23B by 2031
by Katie Pfaff
The global tick repellent market size was valued at $13.7 billion in 2021, and is estimated to reach $23.4 billion by 2031, registering a Compound Annual Growth Rate (CAGR) of 5.5% from 2022 to 2031.
These figures come from a new report, "Tick Repellent Market by Type, By Method, By Application, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031," from Research and Markets, which provides market insights and analysis.
Tick repellents help to prevent and kill various parasitic ticks and fleas such as blacklegged ticks, lone star ticks and American dog ticks that can spread various diseases among both the pets and the pet owners. According to Research and Markets, the rise in awareness regarding the diseases caused by ticks and fleas, growing health consciousness among people, rising trend of pet humanization, increasing numbers of veterinary clinics and growing adoption of companion pets across the globe are the significant factors that are expected to boost the growth of the global tick repellent market.
Rates of tick-borne diseases such as tularemia, Powassan, Lyme and ehrlichiosis have been on the rise, increasing demand for tick repellants.
Based on the report, stringent government regulations regarding pet safety and product quality may hamper the growth of the market. In addition, the rising death rates of puppies and kittens may have a certain negative effect on the revenues of the tick repellents. The major causes of death are hypothermia, hypoglycemia, dehydration, and hypoxia.
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