Pepper Spray Market is likely to grow at a CAGR of 13.1% through 2028, reaching US$ 60,187.9 Thousand
Pepper spray Industry Report
U.S. is the most prominent market in North America, and is projected to reach $18,392.9 thousand by 2028, growing at a CAGR of 11.8% during the forecast period
PORTLAND, OREGON, UNITED STATES, June 21, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Pepper Spray Market by Product and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,”
The global Pepper Spray Market is expected to reach $60,187.9 thousand by 2028 at a CAGR of 13.1% from 2021 to 2028.
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Pepper spray is a non-lethal personal safety weapon, which is used for personal defenses and to control crowd and criminals. A blast of pepper spray stops almost one or more attackers. Pepper spray is also used to protect from deadly animals such as rhinos, beer, and tigers. It is a highly effective deterrent that delivers immediate results.
Rise in crimes, such as rape, eve teasing, murder, kidnaping, and human trafficking, is the major factor encouraging people to buy pepper sprays. Although various gadgets or weapons are used for personal defense such as pocket knife, self-vigilant alarm, aluminum baseball bat, and silver self-defense key cases; however, among these, pepper spray is the foremost choice for women as it is one of the most common and effective defense weapons. A bottle of pepper spray is compact and will easily snug into a handbag. Furthermore, innovations and technological developments in pepper sprays are anticipated to contribute to the growth of the market during the forecast period. For instance, SABRE - Security Equipment Corp. developed SMART pepper spray, in which the smart device can be paired with the SABRE Personal Safety App, with GPS tracking and third-party monitoring.
During lockdown period, due to the COVID-19 pandemic, supply chains are being adversely affected and the whole consumer goods industry is still incurring losses. Governments are frequently practicing total lockdown to limit the spread of the virus, in which retail stores, including specialty shops are strictly suggested to remain close. Despite these hurdles, the Pepper Spray Market witnesses positive growth due to the COVID-19 pandemic as people are afraid of getting looted and robed. Unemployment and food scarcity are some of the negative side effects of the COVID-19 pandemic, which are reaching high levels in the U.S., thereby resulting in increase in the shoplifting and robing.
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According to the market analysis, the Pepper Spray Market is segmented into product, distribution channel, and region. On the basis of product, the market is categorized into fogger, stream, gel, and others. According to distribution channel, it is divided into specialty shops and online stores. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, the UK, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, Indonesia, the Philippines, Thailand, and Rest of Asia-Pacific), and Rest of the World (South Africa, Egypt, Saudi Arabia, and other countries).
Region-wise, Europe was valued at $7,676.1 thousand in 2020, and is expected to reach $20,162.9 thousand by 2028, registering a CAGR of 12.1% from 2021 to 2028. Rise in use of pepper sprays in Europe to control and handle the crowd during violent situations, such as riots, protest, violence against civilians, explosions, and remote violence, is expected to favor the growth of the Pepper Spray Market during the forecast period. In most of the countries of Europe, use of pepper sprays is totally banned, which is expected to hinder the market growth. Luxembourg, the Netherlands, Norway, Greece, Hungary, and Iceland are some countries where use of pepper spray for personal defense is illegal.
The players operating in the pepper spray industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Counter Assault, Defense Technology, Fox Labs International Inc., J&L Self Defense Products Inc., Mace Security International, Inc, SABRE - Security Equipment Corp, Super-Sparkly Safety Stuff, LLC, Suresafety, UDAP Industries, Inc., and Zarc International Inc.
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Key findings of the study
In 2020, the Pepper Spray Market was valued at $23,750.2 thousand, and is estimated to reach $60,187.9 thousand by 2028, growing at a CAGR of 13.1% during the forecast period.
In 2020, depending on product, the fogger segment was valued at $10,445.6 thousand, accounting for 44.0% of the global Pepper Spray Market share.
In 2020, depending on distribution channel, the online stores segment was valued at $8,620.3 thousand, accounting for 36.3% of the global Pepper Spray Market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $18,392.9 thousand by 2028, growing at a CAGR of 11.8% during the forecast period.
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