March 8, 2024 (press release) –
The global market for surface cleaning products is expected to reach US$18.75 billion by 2023, representing a projected compound annual growth rate (CAGR) of 5.1%, according to a report from market research provider Fact.MR.
The report attributed the expected growth in part to a heightened public awareness of hygiene as a result of the COVID-19 pandemic. It also noted that, as people spent more times indoors during the pandemic, indoor air quality (IAQ), reducing the risk of airborne diseases, and the desire to create healthier indoor environments all became greater concerns for consumers. Continued awareness, the report said, would likely sustain the demand for surface cleaning products.
Ongoing innovations in cleaning technologies, such as advanced disinfectants, smart cleaning devices, and touchless cleaning solutions, as well as changes in government regulations and standards, were also cited as factors for the market projection.
However, a challenge that could hinder growth might be the high saturation of surface cleaning products in North America. According to the report, the intense competition between numerous established brands and a wide range of products could make it difficult for newer products to successfully break into the market and grab a foothold.
Increasing awareness of environmental issues might also cause consumers to seek eco-friendly alternatives, and some conventional surface cleaning products could, as a result, face consumer scrutiny due to their environmental impact.
For more information, check out the report.
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