by The global 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 chemical substances or solutions applied to non-living surfaces that help destroy or inhibit the growth of microbes. Common disinfectants include alcohol, bleach, hydrogen peroxide based solutions etc. which are widely used in hospitals, clinics and industrial settings to prevent the spread of infectious diseases.
Market key trends:
Growing awareness regarding the importance of cleanliness and hygiene especially after the COVID-19 pandemic has increased the demand for surface disinfectants across both domestic and commercial sectors. Manufacturers are focusing on developing eco-friendly disinfectants using natural and plant-based ingredients like tea tree oil which are gaining popularity. Innovation in packaging and product formulations to offer longer shelf-life and improved disinfection efficiency even at lower concentrations is another key trend in the disinfectants market.
SWOT Analysis
Strength: Disinfectant products have strong demand in healthcare sector due to rising concern over hygiene and infection control. Regular usage of disinfectants help limit spread of viruses and diseases.
Weakness: Stringent regulations regarding ingredients and composition may lead to additional costs of compliance. Further, presence of toxic chemicals can be harmful if inhaled or absorbed in large quantities.
Opportunity: Increasing prevalence of hospital acquired infections (HAIs) worldwide supports growth opportunities. Also, rising awareness about benefits of cleanliness and sanitation boosts market prospects.
Threats: Availability of alternative sterilization techniques may threaten sales of conventional disinfectants. Further, economic slowdowns may reduce expenditure on non-essential disinfectant products.
Key Takeaways
The Global Disinfectants Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing hygiene and cleanliness concerns amid COVID-19 pandemic. The global disinfectants market size for 2023 is US$ 11847.61 million.
Regional analysis shows North America leads driven by stringent regulations and hygiene standards in the US and Canada healthcare settings. Europe ranks second on the back of supportive government initiatives and policies for hospital hygiene. Asia Pacific exhibits fastest growth due to rising medical tourism, growing population and healthcare infrastructure development across China, India.
Key players operating in the disinfectants market include 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. Rising health awareness and COVID-19 impact are prompting increased supplies of hand sanitizers, surface disinfectants and other hygiene-related products by these leading brands. Surface disinfection segment dominates aided by concerns over cross-contamination risks in public places
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
