Portland,OR, June 30, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report titled, "Fly Traps Market by Type (Container, Sticky, and Electric), Application (Residential and Commercial), Price Range (Low, Medium, and High), and Distribution Channel (Supermarkets and Hypermarkets, Independent Retail Stores, E-Commerce, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global fly traps market size was valued at $245,450.3 thousand in 2022, and is projected to reach $433,211.4 thousand by 2032, registering a CAGR of 5.9% from 2023 to 2032.
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Prime Determinants of Growth:
The global fly traps market is experiencing growth due to factors such as a rise in awareness regarding pest control, a rise in the number of hotels and restaurants, and increased urbanization and population growth at an exponential rate. However, the market potential for fly traps may be constrained by the availability and preference of chemical-based pesticides, repellents, or substitute devices. On the other hand, fly traps that fit these requirements can capitalize on the rising demand for environmentally friendly and sustainable solutions.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $245,450.3 Thousand |
| Market Size in 2032 | $433,211.4 Thousand |
| CAGR | 5.9% |
| No. of Pages in Report | 360 |
| Segments covered | Type, Application, Price Range, Distribution Channel, and Region |
| Drivers | Rise in awareness regarding pest control |
| Increase in the number of hotels and restaurants | |
| Rise in urbanization, coupled with exponential growth in population | |
| Opportunities | Rise in use of chemical-free, eco-friendly, and reusable flytraps |
| Technological advancements in fly traps | |
| Restraints | Low awareness and low product penetration in developing and underdeveloped nations |
| Negative environmental impact due to fly traps |
COVID-19 Scenario:
- The COVID-19 pandemic outbreak had a negative impact on the global fly traps market in 2020. The government-imposed lockdown restriction led to a decrease in commercial users' demand for fly traps. Additionally, the supply chain disruptions had an adverse effect on the production and distribution of fly traps.
- However, the fly traps market has returned to normalcy.
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The electric segment to maintain its leadership status throughout the forecast period-
By type, the electric segment held the highest market share in 2022, accounting for nearly two-fifths of the global fly traps market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment would also exhibit the fastest CAGR of 6.4% during the forecast period. Electric fly traps are employed quite frequently. These fly traps are common at restaurants, shopping centers, parks, and other public spaces.
The commercial segment to maintain its lead position throughout the forecast period-
By application, the commercial segment held the highest market share in 2022, accounting for around three-fourths of the global fly traps market share and is estimated to maintain its lead position throughout the forecast period. This is attributed to the significant adoption of fly traps in various commercial spaces, such as hotels, cafes, restaurants, factories, industrial units, and hospitals. On the other hand, the residential segment would showcase the fastest CAGR of 6.2% during the forecast period, owing to a rise in health consciousness, a surge in prevalence of infectious and vector-borne diseases, an increase in the population of infection-spreading flies and insects, an upsurge in healthcare costs, rapid urbanization, and a rise in awareness of the benefits of fly traps.
The medium segment to rule the roost by 2032-
By price range, the medium segment held the highest market share in 2022, accounting for nearly two-fifths of the global fly traps market, and is projected to rule the roost by 2032. With the rise in prevalence of viral and parasitic infections among the population, spread by flies is a major reason behind the growth of medium-priced fly trap products. However, the high segment would display the fastest CAGR of 6.3% during the forecast period. The rise in penetration of fast-food and quick-service restaurant chains across developing economies is expected to boost growth in the high-priced segment of the global fly traps market.
North America to maintain its dominance by 2032-
By region, North America held the highest market share in 2022, garnering more than half of the global fly traps market, and is likely to dominate the market during the forecast period. Fly traps are an effective and environmentally friendly way to control flies. North America is characterized by increased consumer expenditure on health and wellness products, increased health awareness and consciousness, a rise in healthcare costs, and the presence of several leading manufacturers of fly traps in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.2% from 2023 to 2032. The growth is attributed to the rise in awareness regarding the health benefits of deploying fly traps at homes and other commercial spaces, a growth in demand for natural pest control products, a rise in the prevalence of cholera and other vector borne diseases, and the need for effective and safe pest control methods.
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Leading Market Players: -
- Agri Phero Solutionz
- Cleanrth
- Eco Trap Guard
- Woodstream Corporation
- Flies Be Gone
- Godwill Energy Products Private Limited
- Arbico Organics
- Katchy Bug
- McQwin
- Pestronics
- Rescue
- Ecoman Biotech
- Reza Hygiene
- RSVP International
- Sterling International, Inc.
- Rentokil
- Brandenburg
The report provides a detailed analysis of these key players in the global fly traps market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Country Reports We Have on Fly Traps Industry:
• UK Fly Traps Market Opportunity Analysis and Industry Forecast, 2021-2031
• Europe Fly Traps Market Opportunity Analysis and Industry Forecast, 2021-2031
• Canada Fly Traps Market Opportunity Analysis and Industry Forecast, 2021-2031
• Japan Fly Traps Market Opportunity Analysis and Industry Forecast, 2021-2031
• Mexico Fly Traps Market Opportunity Analysis and Industry Forecast, 2021-2031
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.
