Toilet markets: US$24.73 billion by 2027
Growing awareness regarding health and sanitation in emerging economies and such as the Swachh Bharat Mission in India is fueling growth of the portable toilet market estimated to be worth US%24.73 billion by 2027.
For instance, in India, on 2nd October 2014, the Swachh Bharat Mission was undertaken to achieve universal sanitation coverage and to focus on sanitation, noted Seattle-based Coherent Market Insights in its report released 13 Mar 2019.
This mission motivated people to use portable toilets and make India free from open defecation. This resulted into a significant demand for portable toilets from this region and it is further expected to grow during the forecast period, the report pointed out.
The global portable toilets market was valued at US$18.2 billion in 2018 and is projected to exhibit a CAGR of 3.5% over the forecast period of 2019–2027.
Furthermore, increasing expenditure on travel and tourism is another factor related with increasing number of portable toilets around the globe, according to the report.
For instance, according to the World Bank Data, in 2011, the global inbound tourism expenditure was US$1,230,969 million and it reached US$1,525,677 million in 2017. Also, the global outbound tourism expenditure was US$1,117,835 million in 2011 and it reached US$1,449,151 million in 2017. This exhibits increasing value of the travel and tourism market, which in turn will increase the need for using portable toilets to keep the public places convenient and hygienic.
Major players operating in the global portable toilet market include NuConcepts, Satellite, Sanitech, Polyjohn Enterprises, Camco Manufacturing, Inc., and others. fiinews.com