Disinfectants Market Growth Accelerated by Rising Awareness Towards Hygiene and Safety during Pandemic

 

Disinfectants are chemical products used to kill microorganisms and eliminate infection-causing agents. Disinfectants are extensively used in hospitals, clinics, laboratories and households to maintain hygiene and safety. Increased awareness among consumers towards hygiene and safety during the ongoing COVID-19 pandemic has led to significant rise in demand for disinfectants. The global disinfectants market is estimated to be valued at US$ 49.00 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key trend that has accelerated the growth of disinfectants market is the rising awareness towards hygiene and safety during the ongoing COVID-19 pandemic. The pandemic has made people more conscious about sanitization and hygiene of surfaces. As a result, the demand for disinfectants surged significantly from hospitals and healthcare facilities as well as households during this period. Various government organizations also promoted the use of disinfectants to contain the spread of virus. Increased spending on disinfectants is expected to continue in the forecast period as well, as people aim to curb transmission of infections by regular cleaning and disinfecting of surfaces. This will drive the growth of global disinfectants market during the projected timeframe.

Segment Analysis

The global disinfectants market is dominated by the surface disinfectants segment. Surface disinfectants find widespread applications in hospitals, laboratories, and other places requiring high levels of sterilization. They are effective against a wide range of microorganisms including bacteria, viruses, and fungus. The COVID-19 pandemic has further increased demand for surface disinfectants as they play a crucial role in curbing the spread of infections through surfaces. Growing awareness about hygiene and rising prevalence of hospital-acquired infections are other factors contributing to the rapid growth of the surface disinfectants segment.

Key Takeaways

The global disinfectants market is expected to witness high growth over the forecast period. The market size is projected to reach US$ 49.00 Bn by 2024 from US$ 44.00 Bn in 2023, expanding at a CAGR of 6.0% during 2023-2030.

Regional analysis: Asia Pacific is currently the fastest growing as well as dominating regional market for disinfectants. Stringent hygiene regulations, growing medical tourism, rising living standards and increased healthcare spending are driving the growth of disinfectants consumption in the region. China, India and other developing countries are projected to be the major revenue generators for disinfectant manufacturers in Asia Pacific over the coming years.

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. These leading companies are focusing on business expansion strategies such as acquisitions, partnerships and new product launches to strengthen their global presence and customer base.

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