Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the UV Sterilizer Pouch market.
Trusted Business Insights presents an updated and Latest Study on UV Sterilizer Pouch Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the UV Sterilizer Pouch market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: UV Sterilizer Pouch Market
The global UV sterilizer pouch market size was valued at USD 80.5 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2027. The market is majorly driven by the effective sterilization attributes of UV sterilizer pouch and the ability of the product to destroy over 90% of harmful contaminants in a short span of time.
The UV light used in these sterilizer pouches has been scientifically proven to eliminate pathogens, spores, bacterial propagules, and viruses that could lead to harmful infections. UV sterilizer pouches have been gaining increasing traction among consumers, which is positively impacting the growth of the market.
With leading brands of disinfecting wipes and hand sanitizers completely sold out in retail stores and online, consumers are shifting to high-technology solutions in lieu of eliminating harmful bacteria and germs. Moreover, the fact that anti-bacterial wipes or towels are relatively effective, they also result in a lot more waste than UV based sterilizing devices.
The UV light sterilization is anticipated to find a wide application in cleaning the household objects and has already proven to show effective results in killing bacteria on computer screens, toothbrushes, and other objects. The handy sterilizer device is a must for every parent as they are extremely effective in sterilizing their kids toys. Moreover, from pacifiers to bottle nipples and more, these devices work to kill almost 99.99% of bacteria, viruses, and germs on-the-go in just 59 seconds.
Furthermore, with growing concerns over the spread of the COVID- 19 virus, the adoption of UV sterilizer pouch is anticipated to increase, thereby making it one of the essential sterilization devices among consumers. Additionally, several Chinese automotive companies are actively reviewing the adoption of Seouls violeds UV LED technology for sterilization systems for vehicle interiors.
End-user Insights: UV Sterilizer Pouch Market
The residential application segment led the market for UV sterilizer pouch and accounted for 64.0% share of the global revenue in 2019. This is attributed to growing hygiene awareness among consumers during and post the COVID-19 pandemic. Moreover, the rising influence of social media and online advertisements has exposed people to the recent trends of high standards of hygiene and cleanliness, which is also accelerating the usage of UV sterilizer pouches among consumers for various household items. The chemicals infused in sterilizing liquids or gels are perceived to be harmful, especially when used for toys and games, which is now deemed to be one of the prime factors driving the adoption of UV based sterilizer pouches.
The adoption of UV sterilizer pouch is increasing in hospitals and clinics, corporate offices, R&D centers, malls, and educational institutes in order to minimize the contamination by the usage of daily items, such as small sized medical tools, phone, watches, ear pods, handy instruments among others is expected to contribute to the demand for UV sterilizer pouch in future.
Distribution Channel Insights: UV Sterilizer Pouch Market
Offline distribution channel led the market for UV sterilizer pouch and accounted for 70.0% share of the global revenue in 2019. The ability of the offline stores to exhibit detailed analysis of the technology infused in the product to give a practical experience of the same was one of the primary factors driving the penetration of UV sterilizer pouch through physical stores. Consumers tend to purchase the handy UV sterilizer pouches from offline stores to find the right fit and understand the mechanism and functionality of the product. Moreover, many retailers in the market have sales representatives in order to offer the right product as per consumers needs and consumers can get the demo of the products working pattern.
Online channels are projected to expand at the fastest CAGR of 11.3% over the forecast period owing to the growing population and rising adoption of smart phones. Technologically advanced countries, such as U.S. and U.K., play a prominent role in the segment growth. These channels help provide the latest devices. For instance, according to Internet World Stats, Asia accounted for 50.4% of internet users in the world in 2019. In addition, the rapidly growing e-commerce industry across the globe has enabled the customers to compare products offered by different companies, thereby augmenting online sales. E-commerce portals, such as Amazon, Alibaba, Ebay, and Flipkart, offer latest products at discounted prices, along with value-added services, including easy returns and Cash-On-Delivery (COD).
Regional Insights: UV Sterilizer Pouch Market
North America lead the market for UV sterilizer pouch with a share of 40.5% in 2019. This is attributed to the continuous adoption of high tech products and innovation in the offering in the region, along with consumers willingness to spend on value added and innovative products simplifying life. Wide scope in the mature healthcare segment in the region is supporting the growth of the market. Companies are introducing new products aligned with growing adoption in the commercial sector.
Asia Pacific is expected to expand at the fastest CAGR of 10.1% from 2020 to 2027, deriving maximum revenue from the product application in China. This is attributed to the low cost of the product, high awareness about hygiene issues post the pandemic and strong presence of regional companies in the country. The rising number of mobile internet users in the region is expected to bode well for the regional market. According to GSMA, in 2018, there were 1.9 billion internet users in Asia Pacific and this number is anticipated to reach 2.7 billion by 2025. This is creating significant growth opportunities in the region for portable UV sterilizer pouches.
Key Companies & Market Share Insights: UV Sterilizer Pouch Market
Seoul Viosys, a developer of UV LED technology and a subsidiary of Seoul Semiconductor, had announced that UV LED products can be used for sterilizing bacteria and the sales of the products have ramped up more than five times over the previous month, fueled by concerns over the continuing global spread of the virus causing COVID-19. Some of the prominent players in the global UV sterilizer pouch market include:
Key companies Profiled: UV Sterilizer Pouch Market Report
- Guangdong Liangyueliang Photoelectric Technology
- Seoul Viosys
- Shenzhen Uv Guard Technology Co. Ltd.
- Shenzhen Pvison Technology Co. ltd.
- Shenzhen Liangzan Optoelectronic Co. Ltd.
- ASDA Technology (Zhaoqing) Co. Ltd.
- Shenzhen UV Guard Technology Co. Ltd.
- Shenzhen Jifushe Technology Co. Ltd.
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global UV sterilizer pouch market report on the basis of distribution channel, end user, and region:
Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
End-user Outlook (Revenue, USD Million, 2016 – 2027)
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