The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Surface Disinfectant Market Growth & Trends
The global surface disinfectant market size is expected to reach USD 2.5 billion by 2027 registering a CAGR of 7.6%, as per a new report by Grand View Research Inc. Growing awareness regarding preventive healthcare and hygiene is likely to be the prime factor driving the market. Furthermore, recent outbreak of COVID-19 will drive the demand for surface disinfectants.
The product demand is likely to be prominent in the industrial and institutional sector, which includes hospitals, clinics, food processing industries, aquaculture and meat processing industries among others. Growing incidences of bacterial and viral infections have led to the mandatory implementation of certain infection control practices, including the periodic application of surface disinfectants. In addition, rising awareness regarding health, disease spreads, and proper hygiene has propelled the product demand in domestic and residential applications as well.
Developing countries in support of government initiatives, such as the ’Swachh Bharat Mission’ of India, project lucrative opportunities for the market growth in near future. The market is likely to witness an accelerated growth in 2020 and onwards owing to rising product demand in the wake of COVID-19 pandemic across the geographies. The demand has increased sharply from prominent economies, such as China, Italy, India, U.K., France, U.S., and Iran, which are some of the worst-hit economies due to the virus.
Growing adoption of novel and advanced technologies by major manufacturers for the production of disinfectants with enhanced effectiveness is witnessed as a major market trend. Changing consumer preference towards bio-based products due to awareness about the adverse effects of chemical/synthetic-based disinfectants will also boost the market growth. However, production expansion and meeting the rising product demand amid Corona Virus spread is likely to be a key concern amongst the manufacturers.
Surface Disinfectant Market Report Highlights
- Industrial & institutional segment led the market in 2019 and is expected to expand further at a prominent growth rate from 2020 to 2027
- Alcohol-based and liquid surface disinfectants are likely to witness prominent growth owing to growing application in sanitizers
- Bio-based source is projected to witness lucrative growth in near future as a result of growing consumer awareness regarding adverse effects of chemical-based products
- North America and Europe are expected to be the major regionals markets. However, Asia Pacific is anticipated to register the fastest CAGR from 2020 to 2027
- Strategic alliance by key companies with research institutions to enhance product innovation capabilities likely to be witnessed more during the forecast period