by The disinfectants market is estimated to be valued at US$ 11847.61 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Disinfectants are cleaning products that eliminate bacteria, fungi and other microorganisms from inanimate surfaces. They are used widely across industries such as healthcare, hospitality, food and beverage processing and residental to sanitize surfaces and kill germs. Key disinfectant products include liquids, sprays, wipes and disinfecting soaps. Increasing awareness about hygiene and health benefits of disinfectants is driving their demand.
Market Dynamics:
Growing consumer awareness about hygiene and health: Increased awareness about hygiene and its role in preventing spread of diseases is a key factor boosting demand for disinfectants. Consumers are increasingly using disinfectants in homes as well as workplaces to sanitize surfaces. Moreover, the ongoing COVID-19 pandemic has further enhanced hygiene consciousness.
Rising demand from healthcare facilities: Disinfectants find major usage in healthcare sector for disinfecting medical devices, equipment, surfaces in operation theatres and patient care areas. Growing healthcare expenditure along with increasing hospital infrastructure development is fueling sales of disinfectants in this segment.
Segment Analysis
The global disinfectants market is segmented into form, chemical composition, end use, and region. Based on form, the market is segmented into liquids, sprays, and wipes. The liquids segment is dominating the market due to its effectiveness and easy handling properties. Liquids are commonly used for sterilizing surfaces and medical devices in hospitals and laboratories.
PEST Analysis
Political: Stringent regulations regarding hygiene and cleanliness in healthcare facilities, food industry, and hospitality sectors are driving the demand for disinfectants. Various government bodies monitor and regulate the use of chemicals in disinfectants.
Economic: The increasing per capita income and expenditure on healthcare are positively impacting the market growth. Growth in healthcare industry coupled with outbreak of infectious diseases boosts the sales of disinfectants.
Social: Rising awareness about health, hygiene, and cleanliness is prompting consumers to use disinfectants regularly in households. Growing hospitality sector is also catalyzing the market expansion.
Technological: Major players are focusing on developing bio-based and eco-friendly disinfectants using advanced technologies. Innovation in formulations helps integrate additional functionalities like fragrance.
Key Takeaways
The Global Disinfectants Market Growth is expected to witness high, exhibiting CAGR of 6.9% over the forecast period, due to increasing healthcare expenditure and stringent regulations. The market size for 2023 is estimated to be US$ 11847.61 Mn.
The North American region is expected to dominate the disinfectants market owing to growing awareness about hygiene and chronic diseases. Stringent norms regarding cleanliness and sanitization in healthcare and food industry drive the regional market.
Key players operating in the disinfectants market are Solvay S.A., Unilever Group, Evonik Industries AG, 3M Company, Procter & Gamble Corporation, dowdupont Inc., Lanxess AG, BASF S.E., The Clorox Company, and Reckitt Benckiser Plc. Major players focus on expanding their product portfolio through strategic acquisitions and new product launches.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
