Chemical
Global antibacterial market to reach $17.2 Billion by 2027
Segment is growing at a CAGR of 6%
- By ICN Bureau
| August 05, 2020
The Global Antibacterial Market accounted for $10.83 billion in 2019 and is expected to reach $17.26 billion by 2027, growing at a CAGR of 6% during the forecast period as per latest findings of the report "Antibacterial - Global Market Outlook (2019-2027)" from ResearchAndMarkets.com
Factors contributing to the growth of the market are the change in farming techniques & technologies and increasing instances of bacterial infections in crops. However, the growing instances of ecological toxicology are restraining the growth of the market.
Based on the form, the water-dispersible granule segment is going to have a lucrative growth during the forecast period owing to the properties such as greater stability, ease in handling during supply chain activities and convenience in usage in a large range of crops. Furthermore, the markets for water-dispersible granules are gradually growing due to ease in transportation and shipping in the form of solid packets.
By geography, Asia-Pacific is expected to grow at a significant market share during the forecast period due to the rise in demand for quality crops particularly in India, China and Japan. The countries in this region have observed an increase in the consumption of antibacterial, owing to the growing awareness among farmers related to the effects of bacterial infections on crop yields.
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