The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

Steady Market Growth

• The tick repellent market has experienced strong growth in recent years, with the market size increasing from $0.83 billion in 2023 to $0.88 billion in 2024, at a compound annual growth rate (CAGR) of 6.0%.
• This expansion is driven by factors such as changing climate patterns, stricter regulations, and rising veterinary recommendations.
• The globalization of pet product markets and the increase in pet travel and mobility are also significant contributors to this market’s growth.

Key Growth Factors

• The historical growth of the tick repellent market can be attributed to:
  • Extended tick seasons due to climate change.
  • Growing awareness of pet health, with increased veterinary endorsements for tick repellents.
  • A rise in pet travel and the expansion of pet product markets worldwide.

View More On The Tick Repellent Market Report 2024 – https://www.thebusinessresearchcompany.com/report/tick-repellent-global-market-report

Future Market Projections

• The market is expected to continue its upward trend, growing to $1.12 billion by 2028 at a CAGR of 6.1%.
• Growth during the forecast period will be fueled by:
  • A growing global pet population.
  • Increased consumer preference for natural and organic tick repellents.
  • The “pet humanization” trend, which places greater emphasis on preventive pet healthcare.
  • The rising availability of pet health insurance, encouraging more people to invest in tick prevention for their animals.

Emerging Trends

• Technological advancements in veterinary medicine and the development of more effective tick repellents will drive future market growth.
• Companies are aligning their corporate social responsibility (CSR) initiatives with pet health, focusing on innovative, eco-friendly products.
• Continued investment in research and development will lead to improved formulations and enhanced product effectiveness.

Pet Ownership and Market Impact

• The increase in pet ownership globally is a significant driver of the tick repellent market.
• Pet ownership has surged due to a growing need for emotional companionship and recognition of pets’ positive impact on mental health.
• In 2022, 66% of US households owned pets, and 69% of Australian households reported pet ownership.
• As more people welcome pets into their homes, the demand for tick repellents, which protect animals from diseases like Lyme disease and Ehrlichiosis, continues to rise.

Competitive Landscape

• Major players in the tick repellent market include Merck & Co. Inc., Bayer AG, and Boehringer International GmbH, among others.
• Companies are focusing on innovation to maintain a competitive edge, with a strong emphasis on plant-based tick repellents.
• A recent example is VCM Products, LLC, which launched EcoBuggy in 2022—a natural, 100% plant-based tick and mosquito repellent. This product uses hydrogel-time-release (HTR) technology for prolonged protection and is free from synthetic chemicals like DEET and picaridin.

Market Segmentation and Regional Insights

• The tick repellent market is segmented by type (pills, chewables, and topical treatments), distribution channel (modern trade, veterinary clinics, and online sales), and application (dogs, cats, and other animals).
• North America was the largest region in the tick repellent market in 2023, with significant growth also expected in regions like Asia-Pacific and Europe.

Conclusion

The tick repellent market is poised for continued growth, driven by rising pet ownership, consumer preferences for natural products, and innovations in product formulations. With a steady increase in the global pet population and a focus on preventive healthcare, the market is expected to flourish in the coming years.

Request A Sample Of The Global Tick Repellent Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=18485&type=smp