Its new report, The Future of Industrial and Institutional Cleaning Products to 2021 covers the global markets for the following end use sectors for Industrial and Institutional (I & I) cleaning products; Commercial (foodservice, hotels, retail, offices, transport and other commercial markets); Manufacturing (Food & Drink Manufacturing, Fabricated Metal Products, Electronic Components and Other Manufacturing Markets); Institutional (Healthcare, Educational and Government & Other Institutional Facilities).
World markets for I & I cleaning products are showing steady growth despite some regions facing a recessionary phase and market slowdowns. Global markets for I & I cleaning products will reach $51 billion in value terms with a CAGR of 4% by 2021.
Markets for I & I cleaning products are truly competitive in terms of costs, efficiency, performance and innovation. These competitive features play a crucial role in determining and sustaining market share and leadership of individual I & I cleaning product manufacturer and supplier. Today, the industry is witnessing changes and leaders in this industry are giving their primary attention to developing processes and products that provide cost effective and high performing products.
The demand for using green products for cleaning is increasing through to 2021, in order to prevent creating non-biodegradable waste water and effluent. Manufacturers of cleaning products for industries and institutions have adhered to the changing societal demands and have started using bio-based ingredients, innovating cleaning products that require less or no water with eco-friendly and recyclable packaging.
End use markets for I & I cleaning products are showing consistent growth of about 4% per year. The key growth areas are; hygiene and cleanliness related products such as floor cleaners, disinfectants and sanitizers, hand cleansers and washroom cleaners. The scope in hotels, retail and food service industries is more promising over other sub-segments of the commercial sector.
The Future of Industrial and Institutional Cleaning Products to 2021 I & I cleaning product markets in 2015 showed a steady increase in sales over previous year with a value of $43 billion. The growth was identified higher in healthcare and food processing units. I & I cleaning industry growth is estimated through 2021 at about 6% annually in developing countries and about 4% in developed countries. Healthcare and Food processing units will retain lead while electronic component manufacturers and Food and Drink manufacturers will also become key customers of Industrial and Institutional cleaning products.
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