PROSPECTS AND OPPORTUNITIES
Economic improvements are expected to drive growth for home insecticides
Home insecticides are expected to show positive retail value growth over the forecast period, with retail sales projected to increase at a current value CAGR of 21% (4% in constant value terms) and volume growing at a CAGR of 5%. As the economy improves and exchange rate stability helps reduce import and production costs, growth is set to accelerate.
Consumers are expected to rely on familiar products, as companies develop new formulations
Spray/aerosol insecticides is expected to continue driving overall retail volume and value growth over the forecast period, owing to their perceived effectiveness and strong consumer familiarity. Ongoing developments of more effective products, particularly those that claim to use less harmful or natural ingredients and feature milder scents, will help to spur demand.
Electric insecticides are set to record growth as consumers seek convenient and safer products
The niche category of electric insecticides is expected to experience a recovery over the forecast period, although its growth will remain somewhat constrained by challenging economic conditions. Consumers perceive these products as safer, with fewer side effects compared to other home insecticide categories.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Insecticides industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Insecticides industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Insecticides in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Insecticides in Nigeria?
- Which are the leading brands in Home Insecticides in Nigeria?
- How are products distributed in Home Insecticides in Nigeria?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 impacted demand? Where have sales increased due to stockpiling amidst national lockdown?
- How have enforced home seclusion and social distancing measures following COVID-19 changed usage patterns for Home Insecticides products?
- Where is future growth expected to be most dynamic?
- How important will sustainability and recycling be in generating future growth?
Home Insecticides in Nigeria - Category analysis
KEY DATA FINDINGS
Home insecticides record a retail volume decline as consumers reach for cheap substitutes
Insecticide coils record positive retail volume growth, benefiting from affordability
Electric insecticides performs poorly as consumers focus on most affordable options
Economic improvements are expected to drive growth for home insecticides
Consumers are expected to rely on familiar products, as companies develop new formulations
Electric insecticides are set to record growth as consumers seek convenient and safer products
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DISCLAIMER
The following categories and subcategories are included:
Home Insecticides
- Electric Insecticides
- Insecticide Baits
- Insecticide Coils
- Spray/Aerosol Insecticides
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- Foggers/Bombs
- In-Home Insect Repellents
- Moth Proofers
- Other Other Home Insecticides
Home Insecticides
This is the aggregation of spray/aerosol insecticides, electric insecticides, coils, baits and other insecticides.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Insecticides research and analysis database.
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