The COVID-19 pandemic has wreaked havoc with surfactant market supply chains, but it has brought opportunity as well, according to a new study by Fortune Business Insights (FBI). The increasing application of surfactants in home care, textiles, and food & beverage industries will have an outstanding impact on the global market. FBI predicts that the escalating need for home care products among the urban population will bolster the healthy growth of the market in the forthcoming years. The increasing consumer consciousness toward hygiene owing to the spread of various diseases and viruses can subsequently aid the expansion of the market. Products in homecare include sanitizers, detergents, cleaning products, shampoo, hand wash, and others. The heavy demand for such products is expected to support the development of the market. Moreover, the surging population has further boosted the demand for food & beverages, which, in turn, will augur well for the market.

The COVID-19 pandemic has resulted in the expansion of the household care industry because of the growing concern about cleanliness and hygiene. The surging sales of household care products will benefit the market amid COVID-19. As per the Household and Commercial Products Association (HCPA), the market value is around $180 billion a year of home care products such as cleaners, and disinfectants for homes and commercial environments. Besides, the inflated demand for hand sanitizers and disinfectant sprays will have a tremendous effect on the global market during the COVID-19 pandemic.

As a result, FBI predicts the global surfactant market will enjoy a CAGR of 4.9% to reach $60.5 billion by 2027.