May 23, 2024

Disinfectants Market is Expanding Rapidly by Growing Health and Hygiene Awareness

Disinfectants are substances that are applied to non-living objects to destroy microorganisms that cause infection and disease. Disinfectants play a vital role in healthcare, hospitality, and food industries by eliminating various harmful bacteria and viruses. They are commonly used in surface disinfection of hospitals, clinics, hotels, restaurants, and other commercial spaces. The Global Disinfectants Market is estimated to be valued at US$ 49.0 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030.

Disinfectant products include liquid disinfectants, disinfectant wipes and sprays that are used for surface disinfecting. They help prevent the spread of infectious diseases by destroying or inhibiting the growth of microorganism on inanimate objects. Growing awareness about hygiene and prevention of infections has increased the demand for disinfectants in both commercial and residential settings. Increasing threat of hospital-acquired infections and need for infection control are major factors driving the adoption of disinfectants. Rapid adoption of disinfecting procedures in the food industry and stringent regulations regarding safety and hygiene further boost the market growth.

Key Takeaways

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.

Growing awareness about health, hygiene and sanitation among consumers has significantly increased the demand for disinfectants in homes and commercial spaces. Rising healthcare expenditures and stringent regulations regarding safety and hygiene in industries further propels the market growth.

Global expansion of healthcare and hospitality sectors along with rising adoption of disinfecting solutions in food industry is expected to provide new opportunities for disinfectants market players across regions over the forecast period.

Market key trends

One of the major trends in disinfectants market is the growing focus on product innovation and development of eco-friendly disinfectants. Manufacturers are investing in developing sustainable disinfectant solutions made from plant-based and other natural ingredients in response to rising health and environmental concerns. Development of multi-surface disinfectants with extended-durability and 24/7 protection is another key trend gaining traction. With growing digitization, disinfectant solutions integrated with IoT sensors and smart devices are also gaining attention for enabling real-time monitoring of disinfection.

Porter’s Analysis

  • Threat of new entrants: Low capital requirements and existing customer base creates threat for new companies to enter Disinfectants market.
  • Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products.
  • Bargaining power of suppliers: Suppliers have moderate power due to differentiated raw materials and economies of scale.
  • Threat of new substitutes: Substitutes like surface disinfecting wipes pose threat to liquid disinfectants.
  • Competitive rivalry: Intense competition exists among incumbent producers to strengthen market share.

The geographical regions where the Disinfectants market is concentrated in terms of value are North America and Europe. North America accounts for the largest share primarily due to awareness regarding hygiene and safety. Europe also has a significant market share due to stringent regulations regarding pathogen control.

The Asia Pacific region is projected to be the fastest growing geographical region for the Disinfectants market during the forecast period. This is attributed to growing healthcare industry, rising per capita incomes, increasing population and changing lifestyles in developing Asian countries such as China and India.