Biocides Market Size

Biocides Market Size

Biocides market size exceeded USD 11.15 billion in 2019 and is estimated to grow at over 5.4% CAGR between 2020 and 2026. Increasing demand for ingredients with antimicrobial properties and changing perceptions towards hygiene is likely to boost product demand during the forecast timeframe.

Biocide is a microorganism or chemical product that is intended to render, deter, destroy or exert controlling effect on harmful pathogens by biological or chemical synthesis. Its characteristics such as high cleansing action, nontoxic nature, and high resonance with solvents makes it compatible for various end industries.

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Biocides are widely used in manufacturing personal products owing to its dual characteristics. It is used as preservative and antimicrobial agent in manufacturing soaps, face wash, and cleansing conditioners. Consumers are rapidly moving towards high quality ingredients with cleansing and sanitizing properties to protect themselves from skin infections, a factor which is likely to boost the biocides market share.

Cosmetic industry players are also adopting high quality biocide solutions in manufacturing cosmetic products owing to rising competition in industry. Manufacturers are rapidly engaging in new product development, R&D activities to market their products with antimicrobial, cleansing, and sanitizing taglines which is likely to accelerate the biocides market.

European Union, Biocide Product Regulation (528/2020) regulates the concentration of biocides in applications such as food, agriculture, cosmetics, and general industry. The regulations are placed to protect animals, humans and materials from long lasting effects of active substances found in biocides. The regulation is also helping industry players to manufacture high quality products under strict quality checks which is likely to boost the biocides market penetration.