The Surface Disinfectants Market to record a remuneration of $9 billion by 2027, Says Global Market Insights Inc.
This report cites that the growth of surface disinfectants market can be attributed to the increasing demand for these compounds in wake of the COVID-19 pandemic, growing awareness regarding personal hygiene and cleanliness, along with the surging prevalence of HAIs.
SELBYVILLE, Del., Feb. 1, 2022 /PRNewswire/ -- As per a report recently published by Global Market Insights Inc., the global Surface Disinfectants Market was valued at USD 5.5 billion in 2020 and is poised to account for a valuation of USD 9 billion by 2027, registering with a CAGR of 7.5% from 2021-2027. The report offers a thorough analysis of the market shares, sizes, and estimations, drivers and opportunities, latest market trends, competitive landscape, top winning strategies, and investment areas.
Recent outbreak of the COVID-19 pandemic has offered a push to the demand for surface disinfectants over the past few years. Besides, stringent regulations pertaining to the use of these products in the food and beverage and healthcare sector would bolster the overall market space over the foreseeable time frame.
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Bio-based surface disinfectants segment, based on the product type, would depict a CAGR of 8.5% through 2027, given the introduction to stringent environmental norms by central governments in lieu of the adverse impact of chemical-based products on the ecology. Surface disinfectants are being used across different industries to combat the infection spread, including healthcare, residential, hospitality, and food and beverages.
Key reasons for surface disinfectants market growth:
1. Rising product demand across residential spaces.
2. Steadily rising COVID-19 variant cases worldwide.
3. Surge in prevalence of hospital acquired infections across the North American economies.
2027 estimates predict the 'spray' segment to grow considerably:
Based on form, the spray segment of the surface disinfectants industry would grow at a rate of 6.5% over the span 2021-2027. This can be credited to the product's ability to effectively kill viruses and bacteria when used as per the directions. Surface disinfectant sprays are relatively easier to use and boast of extensive usage in food service, residential, healthcare, and hospitality sectors.
Asia Pacific to lead surface disinfectants industry through 2027:
Regionally, Asia Pacific surface disinfectants market is likely to depict a CAGR of 8.5% through 2027. The growth in the regional market would come from increasing use of surface disinfectants in healthcare settings to mitigate the risk of HAIs. Besides, thriving hospitality and F&B sectors in the region would complement the market share.
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Leading market players:
Prominent players operating in the global surface disinfectants market include Proctor & Gamble, 3M Group, Ecolab, The Clorox Company, and Reckitt Benckiser Group.
COVID-19 impact on surface disinfectants market size:
SARS-CoV-2 infection spread during 2020 has offered a potential push to the demand and use of surface disinfectants to inhibit the presence of virus on the surfaces of different settings. This has significantly expanded the surface disinfectants market size during the recent times. However, disruptions in the supply chain and unavailability of raw materials due to movement restriction have posed challenge to the overall market growth. Nevertheless, ease of the lockdown norms would offer positive impetus to the industry expansion in the coming years.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights Inc.
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