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From a meagre 2.3 percent of the Household Insecticide (HI) market in 2015, incense sticks have leapfrogged to 12.6 percent by the end of this September. The share of incense sticks as a percentage of coils has increased from 5 percent in 2015 to 31 percent this year, clearly signifying their increasing prominence, notes Edelweiss Securities in its latest report on incense sticks.
In fact, during the first nine months of this year, incense sticks have overtaken mosquito repellent cards in terms of market size. Though incense sticks will not fully replace coils or other forms of HI, risk of market share loss for Godrej Consumer Products Ltd (GCPL) and Jyothy Labs is quite real, the report predicts, adding that Jyothy labs has recently rolled out Maxo Agarbathi as part of corrective action. “Incense sticks as a format is gaining more acceptance in rural areas given high efficacy,” adds the report. Forbes India brings you the low-down on the new disruptor: