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Portable UV Sanitizing Boxes Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global portable UV sanitizing boxes market was valued at USD 736 million in 2022 and is projected to expand at a CAGR of 19.4% from 2023 to 2030. The increasing adoption of portable UV sanitizing boxes across various sectors such as hospitality, healthcare, and offices is expected to drive market growth. The growth in the global hospitality industry is ultimately driving the demand for portable UV sanitizing boxes as a method of disinfection. Furthermore, the increasing number of hospitalizations due to the pandemic is driving the demand for portable UV sanitizing boxes in the healthcare sector.
In addition, the increasing number of hospitals and healthcare centers is a major factor driving the demand for portable UV sanitizing boxes in the healthcare sector. Portable UV sanitizing boxes are used to sanitize medical equipment, thus reducing the risk of infection and increasing patient safety. Moreover, the increasing demand for personal protective equipment (PPE) and disinfection of items used in the hospitality sector is also expected to drive market growth.
Furthermore, the increasing adoption of portable UV sanitizing boxes in offices is also driving market growth. Portable UV sanitizing boxes are used to sanitize items such as laptops, phones, and other office equipment. Moreover, the increasing number of offices and the rising trend of work from home are also driving the demand for portable UV sanitizing boxes.
The increasing awareness about the benefits of using portable UV sanitizing boxes is expected to drive the demand for these products in the coming years. Furthermore, the introduction of new products with innovative features such as automatic shut-off and timer functions is also expected to support market growth. For instance, in May 2021, UVClean introduced a new portable UV sanitizing box with an automatic shut-off sensor that can detect when the lid is opened. Moreover, the rising trend of premiumization is also expected to drive the demand for portable UV sanitizing boxes.
The increasing number of manufacturers is expected to further drive the market growth. The increasing competition among the manufacturers is leading to the introduction of new products in the market. Furthermore, the increasing number of mergers and acquisitions is also expected to support market growth. For instance, in October 2021, UVClean acquired UVClean Technologies, a Singapore-based company that specializes in the design and manufacturing of portable UV sanitizing boxes.
Product Insights
The portable UV sanitizing boxes segment is expected to hold the largest market share of 53.2% by 2022. The high demand for these products is attributed to their convenience and portability. With the outbreak of the COVID-19 pandemic, the need for on-the-go sanitization of personal belongings has grown significantly. The growing awareness among consumers regarding the transmission of germs and viruses on hard surfaces has further fueled the demand for portable UV sanitizing boxes.
The stationary UV sanitizing boxes segment is estimated to witness the fastest CAGR of 8.2% during the forecast period. The rising demand for stationary UV sanitizing boxes is primarily attributed to the growing need for sanitizing items such as laptops, mobile phones, and other electronic gadgets. The growing awareness regarding the health benefits of UV sanitization is further expected to propel the demand for stationary UV sanitizing boxes. Furthermore, the emergence of technologically advanced stationary UV sanitizing boxes with enhanced sanitization capacity is likely to drive the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the largest market share of over 38.7% in 2022. The segment is expected to gain further traction during the forecast period, due to the rising consumer preference for purchasing products from these stores. Customers visit supermarkets and hypermarkets to purchase everyday commodities and such stores provide a wide range of products, including household items and medical products, such as portable UV sanitizing boxes. Moreover, these stores offer discounts and promotional offers, which further attracts customers and helps them in buying products at a discounted rate.
The online segment is anticipated to expand at the highest CAGR of 13.3% over the forecast period. The availability of advanced e-commerce platforms and increasing internet penetration are expected to drive the growth of the segment. Companies are focusing on establishing their presence in the e-commerce sector by launching their own websites or partnering with existing e-commerce platforms to increase their brand visibility and reach. For instance, in 2021, Care Life Technologies launched its own website, CareLifeTech.com, to provide customers with a wider range of portable UV sanitizing boxes.
Type Insights
The standard segment accounted for the largest revenue share of 64.5% in the year 2022. The standard segment is estimated to grow at a steady rate over the forecast period owing to the increasing demand for basic models. Basic models are suitable for sanitizing small items such as mobile phones, watches, and jewelry. Also, the increasing usage of basic models in small offices and households is expected to fuel the growth of the segment.
The premium segment is projected to grow at the highest CAGR of 10.8% during the forecast period. The growing demand for advanced UV sanitizing boxes with advanced features such as multiple sanitizing options and automatic shut-off features is driving the growth of the premium segment. Also, the increasing usage of premium models in the corporate sector, hotels, restaurants, and airports is expected to propel the growth of the segment. Furthermore, the increasing demand for energy-efficient and eco-friendly models is expected to contribute to the growth of the premium segment.
Regional Insights
Asia Pacific is expected to witness the fastest growth in the coming years due to the increasing awareness regarding hygiene and the rising adoption of portable UV sanitizing boxes in the region. The rising demand for these products in the region is attributed to the increasing disposable incomes, which has enabled customers to purchase these products. Moreover, the presence of a large number of manufacturers in the region is further expected to drive the growth of the market in the region. For instance, in April 2021, Panasonic launched a portable UV sanitizing box in India with a capacity of sanitizing items such as smartphones, masks, and eyeglasses.
North America is expected to witness the second-fastest growth in the coming years. The region is home to prominent players such as LG Electronics and Sharp Electronics, who manufacture portable UV sanitizing boxes. Moreover, the presence of a large number of technologically advanced customers in the region is further expected to drive the growth of the market in the region. For instance, in June 2021, US-based company Zero Germ launched a portable UV sanitizing box with the ability to sanitize items such as keys, wallets, and jewelry.
Financial Projections
In this part of the portable UV sanitizing boxes products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for this business come from sales of the portable UV sanitizing boxes products. Here you will find a list with a description of each of them and other possible sources of profit such as wholesale sales, product customization services, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the portable UV sanitizing boxes products business running will be described. The list of operating expenses includes manufacturing costs, shipping & handling expenses, wages, marketing fees, advertising, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the portable UV sanitizing boxes market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, Eon Luxe launched a portable UV sanitizing box with a built-in UV-C light that destroys bacteria and viruses in as little as 5 minutes.
– In June 2022, LG Electronics Inc. launched the UV Sanitizing Box that kills up to 99.9% of bacteria and viruses.
– In July 2022, Coway launched the Portable UV Sanitizing Box with a built-in UV-C light that destroys bacteria and viruses in as little as 3 minutes.
Some of the prominent players in the portable UV sanitizing boxes market include:
– Eon Luxe
– LG Electronics Inc.
– Coway
– Honeywell International Inc.
– Sunbeam Corporation
– Philips
– Whirlpool Corporation
– Jarden Corporation
– Panasonic Corporation
– Sharp Corporation
Global Portable UV Sanitizing Boxes Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global portable UV sanitizing boxes market based on product type, application, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Handheld
– Portable
– Others
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Personal
– Commercial
3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What Factors are Driving the Portable UV Sanitizing Boxes Market?
[A]: The portable UV sanitizing boxes market is driven by the increasing awareness about personal hygiene and the rising demand for contactless and portable sanitization solutions. With the rampant spread of the COVID-19 pandemic, the demand for portable UV sanitizing boxes has increased significantly. In addition, the increasing penetration of smartphones and other tech-enabled devices has also driven the market.
[Q]: Who are the Key Players in the Portable UV Sanitizing Boxes Market?
[A]: Key players in the portable UV sanitizing boxes market include LG Electronics Inc., Koninklijke Philips N.V., Xiaomi Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., and others.
[Q]: What is the Potential of Product Innovation?
[A]: Manufacturers of portable UV sanitizing boxes are focusing on product innovation to further strengthen their hold on the market. They are introducing new products with enhanced features such as wireless charging and auto-disinfection. Additionally, they are also introducing portable UV sanitizing boxes with UV-C LED technology, which has a low power consumption and a long life.
[Q]: What are the Major Applications of Portable UV Sanitizing Boxes?
[A]: The major application of portable UV sanitizing boxes is in the personal care and hygiene industry. These boxes are used to disinfect and sanitize items such as mobile phones, keys, jewelry, and other personal items. In addition, these boxes are also used for sanitizing food items such as fruits and vegetables.
[Q]: Which Region Offers the Largest Opportunity for Sales of Portable UV Sanitizing Boxes?
[A]: Asia-Pacific is expected to be the largest market for portable UV sanitizing boxes, due to the increasing population and the presence of leading manufacturers. The region is expected to witness a significant growth in terms of revenue, during the forecast period.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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