As per a new report published by Fact.MR, the global liquid dispensing pump market is anticipated to expand at a CAGR of around 5% during the forecast period of 2021 to 2031.
Automatic liquid soap dispensing pumps have witnessed increased popularity during the COVID-19 pandemic in order to prevent the spread of the novel infection. Globally, Asia Pacific holds a major share of the market, followed by Europe. The Asia Pacific region is anticipated to dominate the market over the coming years as well. Liquid dispensing pumps with neck size 24/410 are most popular across the globe, and this type is predicted to have the highest market value through 2031.
Key Takeaways from Market Study
- The liquid dispensing pump market is anticipated to add 2X value by 2031.
- Cleansing & disinfectant sanitizing sprays, hand wash lotion pumps, and medicinal liquids are expected to shape market growth.
- Among the end uses, personal care and cleansing & disinfectant products has been predicted to be the fastest-growing segment, owing to increasing health precautionary actions adopted by people across the globe.
- Asia Pacific is set to dominate the market with the highest share through 2031.
- Automatic liquid soap dispensing pumps have witnessed increased popularity during the COVID-19 pandemic.
- Due to the COVID-19 crisis, demand for liquid dispensing pumps surged in 2020, which saw a sudden increment in the 1st and 2nd quarters of the year.
- Growing adoption of sensor technology and contactless amenities is generating revenue opportunities for key liquid dispensing pump manufacturers.
“High R&D spending on automatic liquid dispensing pumps will aid market growth over the coming years,” says a Fact.MR analyst.
Key players across the globe have been spending on research & development to come up with automatic liquid dispensing pumps with more advanced technology and higher operational flexibility. These enhancements will drive market growth to a great extent in the medium- to long-term forecast period.
Which Region Offers Great Potential for Liquid Dispensing Pumps?
Globally, Asia Pacific holds a major share of the global market for liquid dispensing pumps, followed by Europe. The Asia Pacific region is anticipated to dominate the market during the forecast period as well. Countries such as India, China, ASEAN, and Australia are anticipated to create significant opportunities for producers and distributors of liquid dispensing pumps in the near future.