The global industrial and institutional cleaning chemicals market size is expected to reach USD 68.16 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period. The stringent food safety standards implemented by the authorities can have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Industrial and Institutional Cleaning Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (General Purpose Cleaners, Floor Care, Warewashing, Disinfectant & Sanitizer, Laundry Care, and Others), By End-User (Commercial, Manufacturing, Institutional & Government) and Regional Forecast, 2020-2027.” The market size stood at USD 47.25 billion in 2019.

Source:

https://www.fortunebusinessinsights.com/industrial-and-institutional-cleaning-chemicals-market-104719

Market Driver: 

Rising Consumption of Cleaning Chemicals to Bolster Growth

The heavy demand for cleaning chemicals for commercial use will have a tremendous impact on the global market during the forecast period. The increasing emphasis on health and hygiene will enhance the application of cleaning chemicals in various industries, which, in turn, will augur well for the market. The growing demand from the hospitality industry, including restaurants and hotels, to offer world-class services to its consumers, will further incite the market's development in the forthcoming years. Moreover, the increasing disposable income coupled with high consumer spending on tourism activities will subsequently spur opportunities for the market.

Besides, the rising sanitation standards at the workplace, especially in developed nations, will further aid expansion of the market. In addition, the growing number of initiatives associated with cleanliness will boost the industrial and institutional cleaning chemicals market growth. 

Regional Analysis: 

Heavy Demand from Hospitality Industry to Influence Growth in North America 

The market size in North America is expected to experience a rapid growth rate owing to the inflated demand from the hospitality industry. The growing demand for disinfection and sanitation products due to COVID-19 outbreak has increased the consumption of the industrial and institutional cleaning chemicals in North America. The market in Asia Pacific is likely to proliferate during the forecast period due to the heavy demand from healthcare, retail, food service, and manufacturing industries. Europe is expected to rise rapidly owing to the rising demand from the food & beverage industry.

Stringent hygiene and sanitation standards at manufacturing facilities, and workplace can create opportunities for the market in the region. Latin America and the Middle East & Africa are expected to experience a considerable growth rate due to the growing knowledge about preventing hospital-acquired infections in the region.