The global market for industrial & institutional cleaning products is forecast to exceed $36.7 billion by the year 2015, according to a new report by Global Industry Analysts, Inc.
After being hit by the recession in 2008 and 2009, the report suggest that the I&I cleaning products market is poised to gain momentum and register healthy growth over the coming years.
GIA’s Industrial & Institutional Cleaning Products: A Global Strategic Business Report attributes the growth to advanced product offerings and surging demand from developing regions such as Asia-Pacific and Latin America.
Increased safety and health standards, predominantly in food & beverage, food service and health care sectors where a hygienic environment is required, are also driving industrial & institutional cleaning products growth, the report finds.
The United States represents the largest regional market for industrial & institutional cleaning products worldwide, but the financial crisis considerably weakened demand over the last two years. Sales of I&I cleaners in the US are expected to witness moderate recovery through 2010 and gain momentum from 2011 onwards.
The I&I industry in the US is dominated by the janitorial cleaners segment, as the country has a greater number of offices, restaurants and hotels compared to any other country in the world.
Europe represents the second largest market for I&I cleaning products worldwide. In terms of growth, Asia-Pacific is predicted to register the fastest growth for I&I cleaning products.Growth in industries, hotels, hospitals and commercial laundries in the Asia-Pacific region is providing significant opportunities.
The report notes a tremendous expansion in the product portfolio of I&I companies, with manufacturers striving to meet the specialized needs of consumers, which go beyond basic cleaning.
Value-added services, extensive product information, safe and appropriate techniques and equipment have also become more prominent. Product differentiation has been a winning strategy to gain market recognition and share for players.
Another important norm prevalent in the industry is consumer preference towards companies with international presence.
The report notes, however, that increased price sensitivity at consumer level is adversely affecting distributors, producers and raw materials suppliers. Raw material providers in particular are facing intense pricing pressure, especially at the higher end of the market.
Major players profiled in the report include 3M Company, Church & Dwight Co. Inc., Cognis Care Chemicals, Diversey Inc, Ecolab Inc., Henkel AG & Co. Kimberly-Clark Corporation, Lion Corporation, Lonza Group Ltd., Procter & Gamble, Reckitt Benckiser plc, The Clorox Company, The Dow Chemical Company, The Fuller Brush Company, Zep Inc., among others.
The report provides a comprehensive review of the I&I cleaning products markets, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, raw material scenario, end-use industry analysis, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants.
It also provides annual sales estimates and projections for the industrial & institutional cleaning products market for the US, Canada, Japan, Europe, Asia-Pacific and rest of world.
http://www.strategyr.com/Industrial_And_Institutional_Cleaning_Products_Market_Report.asp
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers.
