Sanitizing Agent Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[216+ Pages Report] According to the report published by Facts 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. The report analyzes the global sanitizing agent market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the sanitizing agent market.

Market Overview

Sanitizing agents are chemical materials used to disinfect different types of surfaces. The chemicals found in sanitizing agents are used in appropriate quantity and dilution level so as not to have any negative side effects on the surface, device, equipment, or any other item it is applied to. They are substances used to destroy any harmful bacteria that could lead to health concerns for living organisms and have to be clinically tested before being approved by the Environmental Protection Agency deems fit to be used without any possible side effects. Some sanitizing agents are applied to commercial objects like restaurant tables, handles in public toilet doors, and others, while some are strictly created for medical purposes and have to undergo quality checks to be qualified as medical-grade sanitizing agents. In recent times, they have become an extremely important part of maintaining hygiene and public and private spaces. Bacteria-killing agents come in various forms including liquid, spray, or gel structures depending on the final use of the product.

Key Insights

• As per the analysis shared by our research analyst, the global sanitizing agent market is estimated to grow annually at a CAGR of around 7.89% over the forecast period (2022-2028)
• In terms of revenue, the global sanitizing agent market size was valued at around USD 17 billion in 2021 and is projected to reach USD 32.5 billion, by 2028
• Due to a variety of driving factors, the market is predicted to rise at a significant rate
• Based on type segmentation, sprays were predicted to show maximum market share in the year 2021
• Based on composition segmentation, chlorine compounds were the leading application in 2021.
• On the basis of region, Asia-Pacific was the leading revenue generator in 2021

Covid-19 Impact

The global market cap witnessed tremendous growth during the pandemic. It was one of the few industrial segments to generate soaring revenues during the entire course of the pandemic. When lockdowns were imposed initially, there was a lag in the supply-demand chain owing to a sudden exponential increase in the utilization of sanitizing agents, however, by the third quarter of 2020, the supply chain balance was restored as the production was amped up by manufacturers and sanitizing agents became a necessity during the pandemic.

Growth Drivers

• Increasing importance of sanitation to propel market growth

The global sanitizing agent market is projected to grow owing to the increasing trend of maintaining high sanitization standards in public and private spaces with Covid-19 highly influencing this factor during 2020 and 2021. The demand for sanitizing products has grown even further in places that serve food & beverages like restaurants, and cafes as the laws about food and beverage hygiene have become more strict in the last few years owing to the stringent methods adopted by regulatory authorities. Since food-borne medical issues have increased substantially over the years, the service providers are under intense and constant surveillance propelling them to not only deliver safe food but also the utmost level of sanitation in the cooking, dining, and surrounding areas.

Restraints

• Concerns over alcohol-based sanitizing agents to restrict the market growth

Alcohol-based sanitizing agents come with their share of concerns related to the health impact as well as certain restrictions owing to the religious sentiments of certain communities. This greatly restricts the global market expansion as a large section of end-consumers refrain from using alcohol-based sanitizing agents instead of preferring other modes of sanitizing. The global market cap may also lose revenue due to negative sentiments amongst the masses about the regular use of chemical-based agents.

Opportunities

• Growing number of players to provide better growth opportunities

The global sanitizing agent market size is projected to benefit from the rising number of players in the market contributing to the manufacturing of a wide variety of products with variance in price range allowing the product to be accessible to all consumer segments. The increased addition of players also creates a better scope for product innovation which is a critical key for future expansion of any market. This trend can be observed at domestic and at international levels, with large players scaling down to regional requirements as well.

Challenges

• False advertisement is a major challenge to tackle during growth trend

Many companies in the past have been accused of using false data to promote or advertise products via various mediums. Many players use not-proven scientific data to create curiosity amongst end-consumers which could potentially be harmful to the company, in the long run, owing to growing mandates over the credibility of promotional activities using information like studies, science, or statistics.

Segmentation Analysis

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.

Recent Developments:

• In February 2021, the Central Consumer Protection Authority (CCPA) of India issued notices to 14 companies over misleading product advertisements during the pandemic. These organizations included manufacturers of disinfectants, apparel, floor cleaner, paints, and purifiers amongst others. The advertisements were related to the immunity benefits of using the products.
• In August 2022, Himalaya, an Indian multinational wellness manufacturing company, announced the launch of a new range of sanitizing floor cleaners for homes. With this launch, the company has entered the home care segment.

Report Scope

Regional Analysis

• Asia-Pacific to lead market growth during the forecast period

The global sanitizing agents market is projected to grow with the highest CAGR in Asia-Pacific owing to the presence of key players and multiple large-scale manufacturing facilities. For instance, in 2013, state-owned Gujarat Alkalies and Chemicals Ltd (GACL), a chemical major, inaugurated a new plant for the production of hydrogen peroxide. With this launch, the company reached the status of the largest hydrogen peroxide maker with a total capacity of 39,080 tons per annum. China and India are anticipated to lead the regional market further driven by the emergence of recent domestic brands capable of manufacturing at international capacity owing to the high demand for the product from end consumers. These regions are two of the most lucrative market segments due to the steady rise in per capita income which directly impacts the buying capacity.

Competitive Analysis

• Badger Fabrication 
• Hydriyte VH-Germany 
• Seatax Ltd. 
• Novartis AG 
• Maclin Group 
• Troy Chemical Industries.

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 Regional Segment Analysis

• 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