Sep 10, 2018
Constant Focus on improving Formulations and Innovations in Design boost Surface Cleaning Products Market, observes Fact.MR
by Team Fact.MR
The surface cleaning products market is on the path of gaining strength from the rising worldwide adoption of better hygiene practices among households. The demand for improved surface cleaning products in households and commercial spaces will stimulate research and development activities by prominent players, especially in developing and developed countries. The advent of surface cleaning products with better designs that enable the users to clean hard-to-reach places is also likely to expand the horizon of the surface cleaning products market. The focus on safe food handling practices in households has also bolstered the demand for surface cleaning products. Furthermore, advances in formulations and recent advancements in manufacturing technologies have paved way for innovations in the surface cleaning products market. Fact.MR foresees opportunities in the global surface cleaning products market to rise but at slightly lackluster pace. The global market is projected to reach a worth of US$20,273 Mn revenues by end of 2022.
The surface cleaning products market is witnessing attractive growth trajectory from the widespread sales of the products through grocery stores. Among all the distribution channels, grocery store holds the sway and is likely to retain its dominance. However, the average revenue from this segment will being to ebb over the course of the growth of the surface cleaning products market during assessment period. This is evident in the lackluster CAGR of the segment from 2017 to 2022. A key factor attributing this can be the emergence of popularity of other distribution channels in the surface cleaner products market, especially in emerging regions.
The e-commerce distribution channel is fast gathering steam in the global surface cleaning products market is projected to rise at the dominant CAGR during 2017–2022.
Among the various product types, liquid surface cleaning products are anticipated to reap the dominant revenue in the global market. This is attributed to the vast demand for liquid products among worldwide consumers. The rising demand for wipes in the surface cleaning products market in various parts of the world is expected to offer stiff competition to the growth of the liquid segment.
On the regional front, Europe has emerged to the forefront in the global surface cleaning products market. The adoption of robust hygiene practices in commercial spaces has spurred the demand for surface cleaning products. The demand is also expected to receive robust fillip from the burgeoning demand by healthcare centers. This is trailed by North America which is witnessing the rapid rise in sales of surface cleaning products. The advent of surface cleaning products with advanced formulations is a key factor likely to fuel the growth of this regional market. Meanwhile, the demand for surface cleaning products is also lucrative from the Middle East and Africa.
The key packaging formats found in the surface cleaning products market are bottles, pouches, and spray. Of all the segments, surface cleaning products in bottles are expected to reap the dominant demand. The segment is estimated to contribute a share of over 50.0% in the global surface cleaning products market. The popularity of bottled packaging for surface cleaning products is on the account of their moisture-resistant properties and the ability to provide desirable rigidity and stiffness. The pouch format in the surface cleaning products market is also expected to witness substantial uptake in the coming years. The sale of surface cleaning products packed in pouches is the second sought-after format among worldwide consumers.
Key manufacturers of surface cleaning products are also spending substantial sums on research and development activities to develop formulations capable of advanced action on stains and germs. Some of the prominent companies in the surface cleaning products market are Dabur, Procter & Gamble Co., Nice Group, Kobayashi Pharmaceutical, Kao Corporation, Ecover, and Henkel AG & Company, KGaA.