Surface Cleaning Products Demand Forecasted to IncreaseSeptember 27, 2021
The global market for surface cleaning products is expected to rise at a compound annual growth rate (CAGR) of nearly 5% over the next 10 years, according to a report from market research provider Fact.MR.
The report attributed the expected growth to increasing expenditure on preventive measures during the coronavirus pandemic and rising consumer awareness regarding the importance of cleaning and personal hygiene.
Cleaning product manufacturers have been focusing on developing new and efficient products to cater to a wide range of consumers. Investments in research and development have increased to offer products that are eco-friendly, as sustainability is a major factor influencing the direction of the global surface cleaning products industry.
The study also found:
- North America is expected to account for approximately 30% surface cleaning product market demand
- e-Commerce is expected to rake in a majority of sales due to the rising popularity of online shopping.