When consumers encountered problems with rodents or insects in their homes and gardens in the past, their first thought was to contact the local pest controller or garden service. But over time, with greater retail product availability, consumers have made the switch to conducting treatments at home by themselves. This allows for quicker, easier treatments and, most importantly, greater savings for consumers who don’t have to worry about labor costs. In 2019, sales for consumer pesticides and fertilizers were estimated at almost USD 6 billion, an increase of nearly a billion dollars in three years, as reported in Kline’s Consumer Pesticides and Fertilizers Market: U.S. Market Analysis and Opportunities.
The development of biological technologies for pest control in Latin American markets has been growing at an impressive rate over the last few years. As demand for healthier foods increases, so does organic farming, and the government actively supports the use of biological pesticides by purchasing from suppliers and selling to farmers at a lower price. On a global scale, the United States remains the leading participant in the global biopesticide market, with 35% of total sales, being followed by China at a distance with just over 11%. Argentina, Brazil, Chile, and Mexico are enjoying a steady growth rate, reaching ranges of between 2% and 3% of total global sales. Overall, the global biopesticides market is projected to grow at a CAGR of just under 10% over the next five years, reaching nearly USD 3 billion by 2024. However, the COVID-19 outbreak is a new potential source of volatility and a threat to the macroeconomic stability of Latin America and the Caribbean, but it is still too early to fully understand its impact on growth in these countries.
The market of metalworking fluids is among the stronger avenues of the lubricants industry. However, it is currently witnessing significant change arising from shifting HSE regulations, changes in machining technology and materials, a reversal of offshoring to low-cost locations, and growth in additive manufacturing. Demand growth also remains weak, partly due to the slowdown in China and the overcapacity in many end-use industries including steel, with an increase of 0.2% in 2019 compared to the previous year. However, growth differs from one country to another.
Attend Kline’s presentation at COSMOPROF INDIA next week
Head to Toe: How Professional Hair and Nail Markets Maintain Double-Digit Growth in India
JUNE 13, 2019 at 12:35PM
The year 2018 is an exceptional one for the professional hair and nail care markets, growing at 17% and 21%, respectively. Growth for both these markets is driven by the strong performance of established marketers, entry of new marketers, changing mindset of consumers, and expanding salon landscape. Shivani Singh, Project Lead at Kline, will analyze why the Indian professional beauty industry presents an enormous scope for development and expansion.Continue reading