The global biocide market will reach $14.8 billion by 2028, according to Verified Market Research. This represents an increase of around 45% from the current market size valuation of $10.2 billion in 2020.
The market is expected to grow at a rate of 4.9% each year from 2021 to 2028. This indicates a booming industry as many different companies reconfigure their supply lines and sell biocides in order to avail of this opportunity.
The explosive rise could be explained by the recent pandemic, where biocides were widely employed domestically, industrially and institutionally to ensure the health and safety of people from COVID-19. These biocidal products would have been things such as disinfection wipes, hand sanitizers or other sprays
Capitalizing on the tremendous opportunity associated with the booming industry could be done by putting a product on the biocidal market early and later reaping the rewards. At Deenamic Ltd, we provide services pertaining to the Biocides industry and can act as consultants for your organization. You can find out more about this on our Services page.
Biocidal marketing processes can be a long, complex and challenging process. This is why it is valuable to have an experienced team supporting you.
Within Europe, the marketing process can occur at two levels; nationally and from the European Union. The process can vary tremendously nation to nation.
All active substances within the product need to be present on an official list (called Article 95) in order to be placed on the market. Whether the ingredients in your product are still on this list or have transitioned off it decide which approval or authorization pathway you need to follow.
Across all countries, while the active substances are transitioning on Article 95 a National Product Approval is necessary in order to market your product. However, just because your product is approved in one EU nation, does not mean it can be sold in any other. Making a product available on the market is by no means a linear process.