Surface Disinfectants Market Analysis

Surface Disinfectants Market Analysis

Bio-based surface disinfectants surpassed USD 400 million in 2020 and is projected to register a CAGR of 8.5% through 2027. Stringent regulations pertaining to the use of chemicals and the growing environment & health awareness among consumers about the impact of excessive use of chemicals have propelled the segment growth over the past few years.
 

Bio-based surface disinfectants are highly effective as they help to kill germs without leaving toxic chemical residue and eliminate the hazardous effects on the skin, eyes, and respiratory system. These benefits have attracted consumer attention towards bio-based surface disinfectant products in the market.
 

The rising focus of surface disinfectant manufacturers towards investing heavily in research & development to develop new bio-based formulations and increasing the use of bio-based surface disinfectants as an alternative to chemical-based products should drive market growth over the forecast period.
 

The liquid surface disinfectants market is expected to account over USD 6.2 billion in 2027 with a CAGR of 8% in the forecasted period. Liquid surface disinfectants are extensively used in large quantities in the healthcare, hospitality, and food & beverage sector as they are easily available in the market and are easy to use. Moreover, the availability of liquid surface disinfectant products with pleasant and refreshing fragrances has accelerated the product demand from residential end-users, which is likely to further propel the growth of the surface disinfectant market over the forecast period. 
 

The healthcare end-user industry segment was around USD 2.3 billion in 2020 and is projected to register a CAGR of over 8% in the forecasted period. The COVID-19 outbreak has significantly increased the demand for surface disinfectants from the healthcare sector across the globe to provide protection in healthcare facilities and safeguard medical personnel from direct exposure to the virus. Increasing cases of COVID-19 and rapid growth in the healthcare sector across developing countries such as China and India have led to increasing demand for high-quality surface disinfectant products.
 

The online distribution channel segment of surface disinfectants market is expected to surpass USD 2.3 billion by 2027. The rapidly changing lifestyle of consumers due to urbanization has changed consumer shopping behaviour across the globe. Rapid internet penetration in developing countries such as China, India, Brazil, and Argentina have increased the rate of online shopping which should accelerate the sale of surface disinfectants through the online distribution channel.
 

The conveniences of cash-on-delivery and favourable discounts offered by the online stores are attracting customers globally to purchase surface disinfectants through online stores. Moreover, online shopping has increased due to the high convenience factor and the busy lifestyle of the consumers. This has further increased the sale of surface disinfectants through online distribution channel.
 

North America surface disinfectants market crossed USD 1.8 billion in 2020 and is anticipated to show a growth of 8% CAGR in the forecasted period. Rising health and hygiene awareness among the consumers amidst the COVID-19 pandemic along with high healthcare spending are the major factors attributing to the business growth in North America.
 

Also, the product demand is likely to soar over the projected timeframe owing to concerns related to infections & diseases and rising focus of the government in the U.S. and Canada to keep the environment clean. Developed healthcare infrastructure and well-established food & beverage and hospitality sector in the region offer a lucrative growth opportunity for the surface disinfectant market over the forecast period.