Sanitizers Market
By Product;
Gel Sanitizers, Foam Sanitizers, Liquid Sanitizers, Spray Sanitizers, Wipes and OthersBy Composition;
Alcohol-Based Sanitizers and Alcohol-Free SanitizersBy Packaging;
Bottles, Sachets, Sprays, Pump Dispensers and OthersBy Application;
Hand Sanitizers, Surface Sanitizers, Instrument/Equipment Sanitizers and OthersBy End-User;
Residential, Commercial, Healthcare, Industrial, Hospitality and OthersBy Distribution Channel;
Supermarkets & Hypermarkets, Convenience Stores, Online Retail, Pharmacies & Drug Stores, Specialty Stores and OthersBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)Sanitizers Market Overview
Sanitizers Market (USD Million)
Sanitizers Market was valued at USD 5477.58 million in the year 2024. The size of this market is expected to increase to USD 8236.26 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.0%.
Sanitizers Market
*Market size in USD million
CAGR 6.0 %
Study Period | 2025 - 2031 |
---|---|
Base Year | 2024 |
CAGR (%) | 6.0 % |
Market Size (2024) | USD 5477.58 Million |
Market Size (2031) | USD 8236.26 Million |
Market Concentration | Medium |
Report Pages | 379 |
Major Players
- Reckitt Benckiser Group plc
- Procter & Gamble Company
- Unilever
- Henkel AG & Co. KGaA
- 3M Company
- Kimberly-Clark Corporation
- GOJO Industries, Inc.
- SC Johnson & Son, Inc.
- Clorox Company
- Ecolab Inc.
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Sanitizers Market
Fragmented - Highly competitive market without dominant players
The Sanitizers Market is rapidly expanding as consumers place greater importance on hygiene and infection prevention. Around 40% of users now incorporate sanitizers into daily routines to reduce exposure to harmful pathogens. This increased awareness drives both individual and institutional adoption of sanitizers. Market expansion is propelled by ongoing health campaigns and the demand for convenient disinfection solutions.
Advancements in Sanitizer Formulations
Approximately 35% of sanitizers now incorporate innovative formulations including alcohol-free options and skin-friendly ingredients. The introduction of foam, gel, and spray variants meets diverse consumer preferences. Formulation innovation emphasizes moisturizing properties and eco-friendly ingredients to attract health-conscious buyers. These improvements enhance product usability and safety.
Technology Enhancing Product Accessibility
Nearly 30% of manufacturers have integrated smart features such as touchless dispensers and refillable packaging to improve user convenience and sustainability. These innovations reduce contamination risks and appeal to public and commercial spaces. Automated dispensing units are becoming standard in high-traffic areas, increasing sanitizer usage frequency.
Future Market Trajectory and Opportunities
More than 45% of companies plan to expand their product offerings with multifunctional sanitizers and innovative packaging. There is a strong emphasis on compliance with evolving health regulations and environmental standards. Emerging markets present substantial growth opportunities as hygiene awareness spreads globally. Continuous product innovation and diversification will underpin market expansion.
Sanitizers Market Segment Analysis
In this report, the Sanitizers Market has been segmented by Product, Composition, Packaging, Application, End-User, Distribution Channel and Geography.
Sanitizers Market, Segmentation by Product
The Product axis captures the variety of formulations and delivery formats available to end users and is a critical lens for understanding market dynamics and innovation.
Market players focus on product differentiation through formulation, scent, viscosity and user experience to capture retail and institutional demand.
Key drivers include convenience, perceived efficacy and regulatory approvals that influence adoption across channels.
Gel sanitizers remain a core retail and institutional format due to their perceived ease of use and controlled dosing.
Manufacturers pursue formulation improvements and partnerships with packaging firms to enhance shelf appeal and reduce wastage.
From a tactical standpoint, gel variants are often used as a high-margin SKU in both branded and private-label portfolios, driven by strong consumer familiarity.
Foam sanitizers offer a differentiated sensory experience and are positioned for premium and hospitality applications.
Companies are investing in dispenser technologies and refill programs to reduce cost-per-use and improve sustainability credentials.
The format supports expansion into shared spaces where user perception of gentleness and coverage is a selling point.
Liquid sanitizers are flexible for both bulk institutional procurement and consumer refill products, enabling channel breadth.
Supply chain partnerships and cost management are key focus areas for liquid formats where raw material volatility can affect margins.
This segment often benefits from contracts with large end-users such as healthcare and industrial buyers seeking scalable solutions.
Spray formats are tailored to surface sanitation and on-the-go personal use, representing an important cross-over between hand and surface applications.
R&D around nozzle technology and droplet dispersion is common as firms aim to improve coverage and perceived efficacy.
Sprays are strategically marketed for convenience and multi-surface claims, supporting channel expansion in travel and retail segments.
Sanitizing wipes combine cleaning and disinfection in a single-use format and are prominent in both consumer and healthcare settings.
Wipes manufacturers concentrate on material innovations, biodegradability and antimicrobial efficacy to meet regulatory and sustainability expectations.
Wipes are frequently included in bundled offerings for hospitality and transport sectors as a convenience-led, high-velocity SKU.
The Others category includes niche delivery formats and emergent technologies that do not fit standard classification but present opportunities for innovation.
This bucket is monitored closely for disruptive entrants and incremental product extensions that address specific use-cases.
Firms often pilot these offerings in select channels to validate adoption before scaling.
Sanitizers Market, Segmentation by Composition
Composition-based segmentation highlights formulation type—critical for regulatory positioning, efficacy claims and end-user suitability.
Product portfolios are structured around performance profiles and safety perceptions, with formulation strategy guiding marketing and channel placement.
Understanding composition split is essential for forecasting regulatory risk and consumer preference trends.
Alcohol-Based sanitizers are widely accepted for rapid antimicrobial activity and are a cornerstone for clinical and consumer protection.
Manufacturers emphasize compliance wNormalith standards and concentration thresholds to support efficacy claims and institutional procurement.
This segment typically commands strong trust among healthcare and commercial buyers and is central to long-term product roadmaps.
Alcohol-Free formulations address skin-sensitivity concerns and regulatory limits in specific applications, enabling entry into niche and sensitive-use markets.
R&D focuses on alternative actives and emollients to balance efficacy with skin health, while marketing highlights gentleness and suitability for frequent use.
These products support brand diversification and can be pivotal in retail channels emphasizing wellness and hypoallergenic positioning.
Sanitizers Market, Segmentation by Packaging
Packaging segmentation reflects how product presentation and dispense mechanisms affect user experience, cost-per-use and distribution strategy.
Trends include refillable systems, sustainable materials and tamper-evident designs that influence procurement decisions across channels.
Packaging innovation is also used as a competitive lever to increase shelf differentiation and support partnership opportunities with retailers.
Bottles are the primary retail packaging format and are optimized for branding, dosing and shelf presence.
Producers invest in ergonomic and recyclable bottles to meet consumer demand for convenience and sustainability, often paired with pump or flip-top closures.
Bottled products are critical for FMCG strategies and sustained brand visibility across supermarkets and pharmacies.
Sachets offer single-use dosing and are targeted at travel, sampling and promotional campaigns, enabling trial and penetration in emerging markets.
They are valuable for price-sensitive or distribution-challenged regions where bulk shipping and lightweight packaging reduce logistics costs.
Sachet programs are commonly paired with awareness campaigns to drive initial adoption and later scale to larger formats.
Spray packaging supports both personal and surface applications and is valued for convenience and quick coverage.
Design focus is on nozzle performance and leak-proof seals for retail and travel-friendly SKUs.
Spray packaging enables cross-category merchandising—positioned alongside household cleaners and travel accessories—to capture diverse shopper intents.
Pump dispensers are prevalent in both consumer and institutional settings for controlled dosing and hygiene.
The pump format supports refill systems and centralized dispensers in commercial facilities, aligning with cost-efficiency and sustainability initiatives.
Investments in durable pump mechanisms are part of partnerships between sanitizer brands and dispenser manufacturers for long-term contracts.
The Others packaging bucket includes bulk drums, sachet-to-bottle converters and specialized applicators that support unique use-cases.
These formats are leveraged by industrial and healthcare buyers that prioritize volume economics and specific dispensing requirements.
They represent opportunities for B2B commercialization and custom packaging solutions.
Sanitizers Market, Segmentation by Application
Application segmentation clarifies the functional use-cases for sanitizers—hand, surface, instrument/equipment—and informs compliance, claims and channel focus.
Applications determine regulatory pathways, the need for residual activity, and formulation constraints, shaping product design and marketing.
Strategic allocation of R&D and sales resources by application optimizes penetration in healthcare, commercial and consumer channels.
Hand sanitizers are the largest and most visible application, driven by hygiene awareness and routine use in public and private settings.
Manufacturers focus on skin-friendly formulations, fragrance variations and fast-absorbing bases to maximize repeat purchase and loyalty.
Hand sanitizers are central to retail strategies and institutional supply agreements, often bundled with dispensers for facilities management.
Surface sanitizers target non-porous surfaces and are formulated for residual action and material compatibility.
Growth drivers include institutional cleaning protocols and consumer demand for multi-surface convenience products.
Surface products often require different testing and labeling, affecting product launch timelines and channel acceptance.
Instrument and equipment sanitizers are specialized formulations designed for healthcare, laboratory and manufacturing equipment where compatibility and validated efficacy are essential.
This segment is characterized by stringent regulatory requirements and long procurement cycles, favoring established suppliers and certified products.
Companies invest in technical support and training to win contracts and maintain compliance with institutional standards.
The Others category includes niche applications like fabric-safe sanitizers and specialty industrial coatings where bespoke formulations are needed.
These opportunities typically involve collaboration with end-users to develop customized solutions that meet unique operational constraints.
They can be high-margin segments for firms that provide technical service and tailored supply models.
Sanitizers Market, Segmentation by End-User
End-user segmentation identifies the buyer types—residential, commercial, healthcare, industrial, hospitality—and determines procurement behavior, contract length and product specifications.
Understanding end-user needs drives go-to-market strategy, from mass retail packaging to certified institutional-grade offerings.
Segment-specific investments in sales teams, technical documentation and service models are common to win and retain clients.
Residential end-users demand easy-to-use, affordable and pleasantly fragranced products for daily hygiene.
Retail distribution, promotional activity and value packaging are key levers to increase household penetration and repeat purchase.
Brands often deploy consumer education and loyalty programs to grow share in the residential segment.
Commercial buyers—offices, retail spaces and public venues—prioritize durability, refillability and cost-per-use metrics when selecting sanitizer solutions.
Vendors typically offer dispenser systems, service contracts and bulk supplies to meet the scale and continuity needs of commercial clients.
Partnerships with facilities management firms are an important growth strategy in this segment.
Healthcare end-users require products meeting strict efficacy standards and certifications for patient safety and infection control.
Success in this segment hinges on validated formulations, regulatory compliance and reliable supply chains to support continuous operations.
Vendors invest heavily in clinical testing, documentation and relationship management to secure tenders and long-term contracts.
Industrial applications demand robust and scalable sanitizer solutions capable of handling heavy-duty or specialized contamination risks.
Suppliers focus on bulk formulations, material compatibility and on-site support to address operational requirements.
Industrial contracts often involve negotiated pricing, recurring shipments and technical service agreements.
Hospitality buyers—hotels, restaurants, transport operators—seek formulations and dispensers that align with guest experience and brand standards.
Products are selected for aesthetics, gentleness and odor control, with emphasis on refill programs and sustainability to meet corporate policies.
Strategic co-branding and bulk supply deals are common to secure placement across chains.
The Others end-user bucket includes educational institutions, government facilities and niche verticals with specific procurement rules.
These customers often require tailored packaging sizes, labeling and compliance documentation to meet institutional protocols.
Specialized sales teams and long-term relationships help vendors penetrate these varied channels.
Sanitizers Market, Segmentation by Distribution Channel
Distribution channel segmentation outlines how products reach end-users and shapes pricing, promotion and assortment strategies.
Retail visibility, e-commerce performance and pharmacy placement are pivotal for brand growth, while B2B channels support institutional scale.
Channel partnerships and omnichannel strategies are key drivers for expanding market share and improving margins.
Supermarkets and hypermarkets deliver mass reach and high-velocity sales, making them critical for mainstream product adoption and brand visibility.
Manufacturers prioritize shelf space, promotions and pack-size variants to maximize category performance in these channels.
Large-format retail also facilitates bundling and seasonal promotions to drive incremental volume.
Convenience stores capture on-the-go purchases and impulse buys, favoring travel-sized and sachet formats.
Speed-to-shelf and small-format merchandising are important for capturing convenience shoppers.
Manufacturers tailor pack formats and pricing to match the rapid purchase decision cycle in this channel.
Online retail supports broad assortment, subscription models and targeted promotions that enhance repeat purchase and direct-to-consumer margins.
E-commerce enables data-driven merchandising and personalized offers, and is increasingly important for premium and niche products.
Brands invest in direct storefronts, marketplace presence and logistics to scale digital sales.
Pharmacies and drug stores are trusted channels for health-focused products, where certification and professional endorsement carry weight.
Product placement here emphasizes clinical claims, dermatologist approvals and suitability for sensitive users.
Pharmacy distribution is essential for capturing healthcare-conscious consumers and for products requiring pharmacist recommendation.
Specialty stores—health shops, eco-focused retailers—offer curated assortments and support premium or sustainable sanitizer lines.
These channels are useful for differentiated products that emphasize natural ingredients, sustainability or hypoallergenic claims.
Partnerships with specialty retailers help brands access niche audiences and validate premium positioning.
The Others channel includes institutional procurement, direct B2B sales and vending solutions that bypass traditional retail.
These channels often involve negotiated contracts, recurring orders and customized packaging or labeling.
Suppliers develop dedicated channel strategies and account management to service these complex buyers effectively.
Sanitizers Market, Segmentation by Geography
In this report, the Sanitizers Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
Rest of the World
Sanitizers Market Share (%), by Geographical Region
North America
North America remains a mature market with strong institutional procurement and high consumer penetration of branded sanitizer products.
Market strategies in this region emphasize regulatory compliance, clinical validation and partnerships with healthcare distributors to secure large tenders.
Companies invest in innovation and sustainability initiatives to meet evolving buyer expectations and to differentiate in a competitive landscape.
Europe combines stringent regulatory frameworks with strong demand for sustainable and hypoallergenic formulations.
Manufacturers focus on certification, eco-friendly packaging and retailer partnerships to access diverse national markets across the region.
European buyers increasingly prioritize sustainability and traceability, shaping long-term product development and supply chain strategies.
Asia Pacific is a high-growth region driven by rising hygiene awareness, expanding retail infrastructure and localized manufacturing capacity.
Market participants pursue geographic expansion, pricing strategies and local partnerships to capture varied consumer preferences and regulatory environments.
The region presents significant opportunities for scale, private-label growth and innovation in cost-efficient packaging formats.
The Middle East & Africa region exhibits heterogenous demand with pockets of rapid institutional procurement and areas where distribution challenges persist.
Effective market entry requires tailored logistics, strategic distributor relationships and product adaptations for climatic and regulatory conditions.
Companies that invest in local partnerships and scalable supply models can capitalize on incremental adoption and institutional contracts.
Latin America offers growth potential through increased retail penetration and rising health awareness, though price sensitivity and distribution complexity can be challenging.
Manufacturers emphasize value packs, sachet programs and regional partnerships to expand reach while managing cost structures.
Targeted channel strategies and promotional investment are important to drive penetration and brand loyalty in diverse national markets.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Sanitizers Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers
- Hygiene Awareness Increase
- Pandemic Impact Boost
- Technological Advancements Aid
- Regulatory Support Growing
-
Health Consciousness Rise : Health consciousness is a pivotal driver in the Global Sanitizers Market. With an increased focus on personal health and hygiene, consumers are demanding more effective and convenient sanitizing solutions. This trend has been further fueled by recent pandemics, prompting individuals and organizations to prioritize cleanliness and sanitation practices rigorously.
Manufacturers and suppliers in the sanitizers market are responding by introducing innovative products that not only kill germs effectively but also cater to specific needs such as sensitive skin formulas, eco-friendly options, and long-lasting protection. The demand for sanitizers has transcended traditional boundaries, with sectors like hospitality, healthcare, and retail witnessing substantial adoption rates.
Moreover, technological advancements have played a crucial role in enhancing the efficacy and user experience of sanitizers, leading to the development of touchless dispensing systems, smart sanitizing devices, and data-driven hygiene management solutions.
Restraints
- Supply Chain Disruptions
- Market Saturation Challenges
- Environmental Concerns Arise
- Regulatory Compliance Costs
-
Pricing Pressure Intensifies : Pricing pressure intensifies as a significant restraint in the Global Sanitizers Market. With the proliferation of suppliers and products, competition has intensified, leading to price wars and margin squeezes. Consumers, while demanding high-quality sanitizers, are also price-sensitive, especially in regions with economic challenges or market saturation.
Regulatory compliance costs add to the burden for manufacturers and suppliers. Meeting stringent quality standards, safety regulations, and environmental guidelines requires substantial investments in research, testing, and certification processes. These costs can significantly impact profit margins, especially for smaller players in the market.
Additionally, environmental concerns arising from the use of certain sanitizer ingredients, packaging materials, and disposal methods have led to increased scrutiny and pressure for sustainable practices. Balancing effectiveness, affordability, and eco-friendliness poses a challenge for stakeholders in the sanitizers industry.
Opportunities
- Innovate Sustainable Products
- Market Expansion Strategies
- E-commerce Channel Growth
- Emerging Markets Penetration
-
Customization Demand Surges : Customization demand surges as an exciting opportunity in the Global Sanitizers Market. Consumers are seeking personalized sanitizing solutions tailored to their preferences, such as fragrance options, skin sensitivity considerations, and packaging designs. This trend opens avenues for brands to differentiate themselves and build stronger customer loyalty.
Emerging markets penetration presents a promising opportunity for expansion. As awareness of health and hygiene grows in developing regions, there is an increasing demand for sanitizing products. Strategic partnerships, localized marketing strategies, and product customization can help companies tap into these markets effectively.
Furthermore, the rapid growth of e-commerce channels offers a convenient and scalable platform for reaching a broader consumer base. Online sales of sanitizers have surged, especially during periods of heightened health concerns, showcasing the potential for digital strategies to drive market growth and accessibility.
Sanitizers Market Competitive Landscape Analysis
Sanitizers Market is highly competitive, shaped by multinational consumer goods companies and regional manufacturers. Firms focus on strategies such as partnerships, mergers, and collaboration to reinforce market share. With over 60% of revenues controlled by key players, consistent innovation in formulations and packaging formats continues to drive strong growth across healthcare, residential, and commercial applications.
Market Structure and Concentration
The sector demonstrates moderate concentration, with nearly 55% of supply dominated by established brands. Smaller producers contribute through targeted innovation and affordable alternatives. This blend of concentration and fragmented expansion influences competitive strategies, enabling a dynamic environment that sustains growth across diverse consumer and institutional end-use categories.
Brand and Channel Strategies
Leading companies strengthen their brands through direct contracts with institutional buyers, retail partnerships, and online platforms. Around 60% of sales are generated through retail networks, while e-commerce continues to rise. Effective strategies emphasize visibility, trust, and channel expansion, ensuring consistent customer reach and supporting sustained growth across geographies.
Innovation Drivers and Technological Advancements
Continuous innovation drives product development with alcohol-based, non-alcoholic, and skin-friendly formulations. Nearly 45% of investments focus on technological advancements in packaging, extended shelf life, and eco-friendly ingredients. Industry collaboration strengthens product pipelines, shaping strategies that improve consumer experience and ensure steady growth across healthcare and lifestyle-driven usage.
Regional Momentum and Expansion
North America contributes close to 35% of demand, supported by strong retail partnerships and diversified product portfolios. Europe maintains steady growth through sustainability-focused initiatives, while Asia-Pacific demonstrates rapid expansion surpassing 25% with rising hygiene awareness. Regional strategies remain essential in scaling production and meeting diverse consumer needs.
Future Outlook
The market is projected to sustain consistent growth as consumers prioritize hygiene and wellness. Stronger partnerships and mergers will reshape competition, while ongoing innovation in sustainable and functional products enhances adoption. The future outlook emphasizes continuous expansion through advanced distribution models and evolving consumer behavior.
Key players in Sanitizers Market include :
- Reckitt Benckiser
- Procter & Gamble
- GOJO Industries
- Unilever
- 3M
- Henkel
- The Himalaya Drug Company
- Vi-Jon
- Chattem
- Best Sanitizers, Inc.
- Kutol
- Kimberly-Clark
- Johnson & Johnson
- Edgewell Personal Care
- Diversey
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Market Share Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Composition
- Market Snapshot, By Packaging
- Market Snapshot, By Application
- Market Snapshot, By End-User
- Market Snapshot, By Distribution Channel
- Market Snapshot, By Region
- Sanitizers Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Hygiene Awareness Increase
- Pandemic Impact Boost
- Technological Advancements Aid
- Regulatory Support Growing
- Health Consciousness Rise
- Restraints
- Supply Chain Disruptions
- Market Saturation Challenges
- Environmental Concerns Arise
- Regulatory Compliance Costs
- Pricing Pressure Intensifies
- Opportunities
- Innovate Sustainable Products
- Market Expansion Strategies
- E-commerce Channel Growth
- Emerging Markets Penetration
- Customization Demand Surges
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Sanitizers Market, By Product, 2021 - 2031 (USD Million)
- Gel Sanitizers
- Foam Sanitizers
- Liquid Sanitizers
- Spray Sanitizers
- Wipes
- Others
- Sanitizers Market, By Composition, 2021 - 2031 (USD Million)
- Alcohol-Based Sanitizers
- Alcohol-Free Sanitizers
- Sanitizers Market, By Packaging, 2021 - 2031 (USD Million)
- Bottles
- Sachets
- Sprays
- Pump Dispensers
- Others
- Sanitizers Market, By Application, 2021 - 2031 (USD Million)
- Hand Sanitizers
- Surface Sanitizers
- Instrument/Equipment Sanitizers
- Others
- Sanitizers Market, By End-User, 2021 - 2031 (USD Million)
- Residential
- Commercial
- Healthcare
- Industrial
- Hospitality
- Others
- Sanitizers Market, By Distribution Channel, 2021 - 2031 (USD Million)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retail
- Pharmacies & Drug Stores
- Specialty Stores
- Others
- Sanitizers Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Sanitizers Market, By Product, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Reckitt Benckiser
- Procter & Gamble
- GOJO Industries
- Unilever
- 3M
- Henkel
- The Himalaya Drug Company
- Vi-Jon
- Chattem
- Best Sanitizers, Inc.
- Kutol
- Kimberly-Clark
- Johnson & Johnson
- Edgewell Personal Care
- Diversey
- Company Profiles
- Analyst Views
- Future Outlook of the Market