Global Sanitizing Agent Market Share Is Expected To Grow At A CAGR Of 7.89% By 2028

06-Oct-2022 | Facts and Factors

According to Facts and Factors, the global sanitizing agent market size was worth around USD 17 billion in 2021 and is predicted to grow to around USD 32.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7.89% between 2022 and 2028.

Sanitizing agents are disinfecting products that are used to kill harmful bacteria from surfaces ranging from hostel floors to medical equipment. They have recently become more popular owing to the increasing emphasis on maintaining sanitation and hygiene to avoid getting any kind of infection. Sanitizing agents, of different grades, have found multiple applications across industries, with manufacturers undertaking massive product innovation activities to penetrate the global market. The growing population is expected to contribute to higher numbers in generating more revenue in the coming years, especially driven due to the post-pandemic effects.

Browse the full “Sanitizing Agent Market Size, Share, Growth Analysis Report By Type (Wipes, Liquid, Alcohol-Based Wipes, Quaternary Ammonium Compound-Based Wipes, and Sprays), By Composition (Peracetic Acid, Alcohol, Quaternary Ammonium Compound, Chlorine Compounds, Hydrogen Peroxide, and Others), By End-User (Hospitals & Clinics, Pharmaceutical Companies, Diagnostic Laboratories, and Research Centers), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/sanitizing-agent-market

The global market cap witnessed a sudden surge in demand during Covid-19 as sanitizing agents were claimed to be highly effective in curbing the spread of the virus. During the initial phase of the lockdown witnessed globally, the supply of the products was limited and governments along with public health advisory boards had issued recommendations on how to prepare sanitizers at home for personal use. However, by the end of 2020, the gap in the supply & demand was balanced owing to increased efforts of the producers

The global sanitizing agent market is projected to grow during the forecast period owing to the increasing number of players in the market including domestic and international players. Wellness has become an important sector in the last few years with various companies investing heavily in expanding their company portfolio. Mckinsey has projected the global wellness industry to grow at a 5 to 10% annual growth rate with the market currently being valued at USD 1.3 trillion. Another important factor for higher market growth may be the stringent regulation over maintenance of hygiene and sanitation in service-providing places like restaurants, beauty salons, cafes, hotels, and others.

The concerns over alcohol-based sanitizing agents to restrict global market growth while growing the number of businesses may provide better growth opportunities. However, false advertisement is a major challenge to tackle during the growth trend.

The global sanitizing agent market is segmented based on type, composition, end-user, and region.

Based on type segmentation, the global market divisions are wipes, liquid, alcohol-based wipes, quaternary ammonium compound-based wipes, and sprays. The global market is dominated by the sprays segments since they are widely used in public places that require frequent sanitation. Spray sanitizers can also be effectively made at home. Alcohol-based wipes were also used frequently with the US Food and Drug Administration recommending isopropanol or ethanol concentration of 60 to 70%.

Based on composition, the global market is divided into peracetic acid, alcohol, quaternary ammonium compound, chlorine compounds, hydrogen peroxide, and others. Chlorine compounds generate the highest revenue in the global market owing to their efficiency in eliminating bacteria. As per guidelines published by the advisory units of the US Food and Safety Department, sanitizing solutions should not contain more than 200 parts per million of the available chlorine. 

Based on end-user, the global market divisions are hospitals & clinics, pharmaceutical companies, diagnostic laboratories, and research centers. The global market is dominated by the hospitals & clinics segment since these units are highly infection-prone and fall under strict safety protocols. For instance, as per a report on the National Library of Medicine, over USD 104 million is spent by Indian hospitals on maintaining sanitation standards.

Asia-Pacific is projected to lead the global sanitizing agent market owing to the rampant modernization of economies including China & India and the presence of multiple players across countries in the region. China is a lucrative market since the country boasts of some of the world-class and largest manufacturing units in the chemical industry, which was estimated to have contributed USD 1.5 trillion in sales in 2017, nearly 40% of the global sales in the chemical industry. The region is currently the leading economy in this industry. North America is projected to grow driven by the strategic activities undertaken by players to expand their global footprint which involves collaborating with domestic players to reach a larger consumer database. The US is expected to become a major contributor owing to the prevalence of hygiene-related regulations and strict policies in place to assure that facilities follow the hygiene protocols assigned to them.

Report Scope

The global sanitizing agents market is dominated by players like Badger Fabrication, Hydriyte VH-Germany, Seatax Ltd., Novartis AG, Maclin Group, and Troy Chemical Industries.

Recent Developments;

• In May 2022, the U.S. Environmental Protection Agency (EPA) announced the launch of a new and modernized design for the environment logo found on antimicrobial products and disinfectants
• In March 2021, Medimix, AVA Group’s flagship brand, launched a new range of Hand Sanitizer Gel providing users with the benefits of the Medimix in a gel format.

The global sanitizing agent market is segmented as follows:

By Type

• Wipes
• Liquid
• Alcohol-Based Wipes
• Quaternary Ammonium Compound-Based Wipes
• Sprays

By Composition

• Peracetic Acid
• Alcohol
• Quaternary Ammonium Compound
• Chlorine Compounds
• Hydrogen Peroxide
• Others

By End-User

• Hospitals & Clinics
• Pharmaceutical Companies
• Diagnostic Laboratories
• Research Centers

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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