Disinfectants are antimicrobial substances that are applied to non-living surfaces to destroy or irreversibly inactivate infectious microorganisms, but not necessarily their spores. Disinfectants are widely used in hospitals and other medical facilities to prevent the spread of nosocomial infections, as well as in households to remove microorganisms including viruses, bacteria, fungi, and protozoa from surfaces. With the growing awareness regarding hygiene and cleanliness especially amidst the current COVID-19 pandemic, the demand for disinfectants is on the rise. 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:
One of the key trends witnessed in the disinfectants market is the increasing demand for sustainable and eco-friendly disinfectants. More consumers and commercial buyers are opting for disinfectants made from plant-derived ingredients and essential oils as they are considered safer and more environment-friendly. Major players are focusing on developing novel disinfectant formulations containing natural antibacterial and antiviral agents such as thymol, citral, carvacrol, eucalyptol, limonene etc. extracted from plants like thyme, lemon, eucalyptus etc. Furthermore, rising applicability of UV disinfection is another trend. UV light based disinfection systems are gaining traction due to their effectiveness in disinfecting surfaces without use of harsh chemicals. They are increasingly being used in hospitals and other indoor spaces to curb the spread of infectious agents.
Threat of new entrants: The threat of new entrants in the disinfectants market is moderate. Expanding into this market requires major R&D investments and establishing brand recognition among consumers.
Bargaining power of buyers: The bargaining power of buyers in the disinfectants market is high. Buyers have numerous product options from different brands at varying price points.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While raw materials are commoditized, suppliers have some control over pricing and availability.
Threat of new substitutes: The threat of substitutes is low. Other cleaning products do not effectively eliminate microbes like disinfectants.
Competitive rivalry: Competition in the disinfectants market is high due to the presence of numerous global and regional players. Companies compete on pricing, product differentiation, and marketing.
The global disinfectants market is expected to witness high growth. Increased awareness about health and hygiene is driving demand for disinfectant products.
Regional analysis: Asia Pacific is projected to be the fastest growing market for disinfectants during the forecast period. Countries such as China, India, Indonesia, and Vietnam are witnessing rapid economic growth and rising disposable incomes. This allows consumers to spend more on healthcare and hygiene products. stringent regulations and protocols regarding hygiene in healthcare facilities and public areas also contribute to market expansion.
Key players: 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 companies compete on the basis of product innovation, quality, and pricing.
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it