Surface Disinfectant Market size worth over $8.5 billion by 2026
Published Date: September 2, 2020 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the Surface Disinfectant Market size is set to surpass USD 8.5 billion by 2026. The increasing cases of infection-transmitted diseases such as COVID-19 is raising awareness among people regarding the need to maintain personal health and hygiene, thus boosting the growth of the market.
Increasing instances of healthcare associated infections (HAIs) coupled with the increasing prevalence of chronic health diseases such as diabetes, blood pressure, heart problems and obesity, among others is likely to drive the attention of people as well as health professionals towards the use of surface disinfectants during the forecast period.
Rising use of disinfecting wipes to reduce the risk of cross contamination should trigger the growth of surface disinfectants market
The wipes segment is expected to reach USD 733.21 Million by 2026 from USD 448.96 Million growing at a CAGR of 7.3% during the assessment period. The market for disinfecting wipes should observe rapid upsurge owing to reduced risk of cross contamination and spread of infection. Disinfectant wipes are available with a dispenser, thus reducing the contact points and minimizing the spread of bacteria or viruses. Besides, wipes are already impregnated with correct ratio of active ingredients, resulting in minimal loss of substances and increasing the efficiency of the disinfectant.
According to the U.S. Institute for Antimicrobial Resistance and Infection Control, wipes show the highest Adenosine triphosphate (ATP) reduction on surfaces, significantly reducing the risk of infection. Reduced risk of harmful chemicals being released into the atmosphere and being inhaled by the user further contributed to the surface disinfectant market growth.
Browse key industry insights spread across 260 pages with 354 market data tables and 25 figures & charts from the report, “Global Surface Disinfectant Market By Type (Chemical based (Quaternary Ammonium Compounds, Hypochlorite, Alcohols, Aldehydes, Peroxides, Others), Bio-based), By Form (Liquids, Wipes, Spray), By End-user (Healthcare, Hospitality, Food & Beverage, Residential), By Distribution Channel (Online, Offline), Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing awareness regarding cleanliness and personal hygiene to stimulate the demand for surface disinfectants in residential and food & beverage sectors
The residential sector is expected to reach USD 1.9 Billion by 2026 from USD 1.2 Billion in 2019. Increase in the cases of infectious diseases have increased the awareness among consumers regarding the need to maintain cleanliness and personal hygiene, which is expected to trigger the surface disinfectant market share.
Furthermore, the spread of infection transmission diseases such as the COVID-19 pandemic has caught the attention of customers regarding the use of these products in households worldwide. The increasing demand for personal hygiene is justified by the fact that nearly 55% of Indian consumers intend to buy more personal hygiene and safety products in 2020.
Food & beverage sector is expected to reach USD 2.3 Billion growing at a CAGR of 7.6% during the review period. Increasing cases of food poisoning and changing consumer preference towards consumption of healthy food is compelling food processing industries to disinfect food surfaces, thus raising the demand for surface disinfectants. Furthermore, the increasing consumer preference for a clean dining area in hotels and restaurants may further promote the growth of the surface disinfectant market.
Presence of regional distributors to foster the growth of offline distribution channel
Offline distribution channel is expected to reach USD 6.7 Billion by 2026 from USD 4.1 Billion growing at a CAGR of 7.4% throughout the forecast period. Key players are focusing on strengthening their distribution channels for marketing and selling their surface disinfectant products, which may boost the growth of offline distribution channel. Several manufacturers of bio-based products have tie-ups with various regulatory bodies and government organizations to supply their products.
For instance, Thymos, a producer of bio-based disinfectants has set up official distribution centers in the U.S., Canada and China. It has entered into a partnership with Cargill to sell its products in the United Kingdom and other European countries, and in the Middle East & Africa. The Natural Cleaner Company sells its products to the Government of Queensland, the Australian Crocodile Zoo, and the Brisbane Lions football club through distributors.
Increasing consumer awareness regarding personal hygiene coupled with changing consumer preference towards use of bio-based products may foster growth of surface disinfectants market in Europe
Europe is expected to reach USD 2.4 Billion growing at a CAGR of 7.3% during the assessment period owing to the increasing consumer awareness regarding the need for personal health and hygiene. Besides, various initiatives undertaken by different agencies and government authorities for developing improved product formulations is expected to further promote the growth of the surface disinfectants market. Furthermore, the changing consumer preference towards the use of bio-based products may raise the demand for bio-based surface disinfectants in the next few years.
Major players are adopting inorganic growth strategies such as mergers, acquisitions and partnerships to strengthen regional presence and utilize well established distribution networks. The primary market players in the surface disinfectant industry include 3M Group, Reckitt Benckiser Group llc, Proctor & Gamble, The Clorox Company, STERIS Plc., Ecolab, Lanxess AG, Neogen Corp., Dupont and Cantel Medical.