The Enzymatic Cleaner Market is estimated to be valued at US$ 1.71 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Enzymatic cleaners are formulated with enzymes that break down specific types of dirt, stains and odors through biological catalytic action. They provide efficient cleaning performance without using harsh chemicals. Enzymatic cleaners can remove tough stains left by proteins, carbohydrates, oils and greases. They are biodegradable and considered environmentally sustainable.
Market key trends:
One of the key trends driving the enzymatic cleaner market growth is the increasing demand for eco-friendly products from consumers. Enzymatic cleaners are derived from natural sources like plants, animals and microorganisms and hence cause minimal harm to the environment. Their active ingredients are enzymes that degrade dirt and stains into smaller, non-toxic compounds instead of transferring them elsewhere. This property makes enzymatic cleaners a desirable green alternative to conventional chemical-based cleaners. The shifting preference towards sustainable products is propelling the demand for enzymatic cleaners globally.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established buyers significantly lowers the threat of new entrants in the enzymatic cleaner market. However, strong brand loyalty and recognition hold as barriers.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to the availability of substitutes. However, unique benefits of enzymatic cleaners like stain removal and being environmental friendly attract buyers.
Bargaining power of suppliers: Key raw materials required are easily available, reducing the bargaining power of suppliers. Suppliers of enzymes used in enzymatic cleaners have some bargaining power due to specialized production process.
Threat of new substitutes: Substitutes like bleach and ammonia based cleaners offer low prices but lack eco-friendly properties. Enzymatic cleaners have gained popularity due to their environmental credentials.
Competitive rivalry: Presence of global and regional players have led to intense competition. Innovation, mergers and acquisition have become order of the day.
SWOT Analysis
Strengths: Eco-friendly nature and ability to remove tough stains without harming surfaces. Wide applications in household and institutional cleaning.
Weaknesses: Higher costs than conventional cleaners. Limited usage guidelines reduce overall understanding.
Opportunities: Increasing spending on green products and cleaning supplies. Growing consciousness about health and environment presents scope.
Threats: Volatility in raw material prices and regulations around genetically modified organisms used. Threat from private label brands offering cheaper alternatives.
Key Takeaways
The Global Enzymatic Cleaner Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing health hazards caused by chemicals in conventional cleaners. Growing preference toward eco-friendly and sustainable products will further aid in market growth.
The North America region currently dominates the enzymatic cleaner market and is expected to continue its dominating position over the forecast period. This can be attributed to increasing environmental concerns and stringent regulations regarding usage of toxic chemicals in cleaners. Europe is expected to exhibit considerable growth aided by high disposable income and spending on green products.
Key players operating in the enzymatic cleaner market are Ecolab Inc., Novozymes A/S, Reckitt Benckiser Group PLC, Church & Dwight Co., Inc., The Clorox Company, Kikkoman Corporation, Spartan Chemical Company, Inc., Diversey, Inc., Johnson & Johnson, Danaher Corporation, Henkel AG & Co. KGaA, Procter & Gamble Co., DuPont de Nemours, Inc., Colgate-Palmolive Company, and Biokleen. Leading manufacturers are focused on new product launches, expansion into emerging regions, and strategic acquisitions to strengthen their market presence.
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