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Hand Sanitizer Market Is Expected To Grow At A CAGR Of 17% During The Forecast Period 2020–2025

Julia Waven by Julia Waven
January 28, 2022
Reading Time: 6 mins read
0

The hand sanitizer market is expected to grow at a CAGR of over 17% during the period 2019–2025. One of the main factors contributing to the growth of hand sanitizers is the outbreak of the coronavirus (COVID-19), which has been declared as a global pandemic by the World Health Organization (WHO). While a little is known about the virus and its transmissions, health practitioners are recommending frequent hand washing with alcohol-based hand sanitizers as a possible alternative to keep the virus at bay. Hence, the increased recommendations by healthcare practitioners is expected to contribute to market growth. With the outbreak of the pandemic, several distillers across the globe have started manufacturing ethanol to prepare sanitizers. While the epidemic has significantly accelerated the demand for hand sanitizers around the world, several companies are repurposing their production capabilities, owing to the shortage of hand rub and the introduction of counterfeit and substandard products. Moreover, the growing awareness toward personal hygiene and the increased prevalence of several viral outbreaks in several geographies have propelled the demand for hand cleaners. Healthcare, hospitality, residential, education, corporates, and government & defense agencies are major end-users witnessing high demand. However, relatively low awareness of such products and less penetration remains the major growth inhibitors in several APAC and Latin American countries.

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Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-91082

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Key Vendors

• The 3M Company
• GOJO Industries
• Procter & Gamble (P&G)
• Reckitt Benckiser Group
• The Unilever Group
• Vi-Jon

INSIGHTS BY VENDORS

The global hand sanitizer market is fragmented in nature due to the presence of local as well as global vendors. 3M, GOJO Industries, P&G, Reckitt Benckiser, Unilever, and Vi-Jon are the key leading vendors. The competition among these key players is intense. The market concentration in developed countries such as the US and other Western European countries is high, while it’s still in the nascent stage in developing economies such as China and India because of the entry of many international brands and the growth in hand sanitization awareness. The competition between vendors exists based on offerings, variety, and pricing. Vendors are using new business models and focusing on developing the portfolio of their establishments to drive growth. The focus is heavily shifting toward the use of natural ingredients and raw materials in hand sanitizers.

The following factors are likely to contribute to the growth of the hand sanitizer market during the forecast period:

• Increasing Influence of Internet in Shaping End-users’ Purchasing Behavior
• Growing Demand for Flavored & Organic Hand Sanitizers
• Growth in Promotional Activities
• Rise in Health Consciousness among Consumers

HAND SANITIZER MARKET: SEGMENTATION

This research report includes a detailed segmentation by product, end-user, distribution, and geography. The outbreak of COVID-19 caused overpricing of gel-based hand sanitizers across the world. In the US, the price of a liter of hand sanitizer exceeded the price of a gasoline liter in March 2020. Hand sanitizer gel has been available in the market for the longest period, which has increased its acceptance among consumers. These hand cleaners have witnessed a close to 73% spike in the sale since March 2020 in the US alone. The North American region is expected to record the highest revenue for gel-based disinfectants on account of the outbreak of the coronavirus. The segment is expected to witness growth with key players in the region to follow thought leadership strategies to establish R&D facilities in the region and offshore manufacturing units post-pandemic. Construction, manufacturing, painting, and decoration sectors are the major end-users of liquid-based sanitizers. As liquid-based disinfectants demonstrate better antimicrobial performance than gel-based counterparts, the segment is expected to witness considerable demand in several segments. Therefore, consumers from painting and oiling activities prefer liquid-based over others. With rising awareness of contagious infections and an increased sense of hygiene at workplaces, workers and employers are maintaining the hygiene by mandating the use of hand disinfectants.

The healthcare sector is expected to generate the maximum revenue by 2025, owing to the outbreak of the COVID-19, which has increased the application. The sector has always been one of the key contributors to the global hand sanitizer market. The high-speed building of new hospitals and healthcare centers is further expected to increase the revenue for the healthcare sector. In March 2020, more than 50 temporary hospitals were built across the world, leading to increased consumption of hand cleaners in the sector. The segment in North America is expected to grow at a CAGR of over 20% during the period 2019–2025. As the most common form of transmission of pathogens is via hands, the application of hand cleaners is growing. Vendors providing gel-based products in the healthcare sector should focus on building the brand image and ensure that their products deliver end-results. However, the lack of awareness of hygiene and the absence of unanimity over prescribed recommendations have resulted in poor adherence to hand hygiene.

The hospitality sector is another key market segment for hand disinfectants. Hotels, restaurants, and food chains are the major sub-segments, which are witnessing the high application of hand disinfectants. As this segment requires to follow high-level hygiene and maintenance, vendors are developing a wide range of hand cleaners to cater to varying requirements. Further, food chains and restaurants worldwide have started to adopt the practice of placing hand cleaners in their handwashing areas, thereby increased applications. Vendors have been providing need-centric products for the hospitality segment. The residential sector is a crucial end-user for hand disinfectants. Over the last few years, end-users have become more aware of germs and infections prevailing in the environment. Households with small babies/infants or children have more hygiene conscious. Parents have become more attentive to adopt these disinfectants to prevent widespread disease or germ infections among children daily, thereby increasing the application of in the residential sector. Foam-based ones are in demand in the residential segment, although gel-based sanitizers are also increasing their presence.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-91082

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Hand sanitizers are primarily sold through retail distribution channels such as supermarkets and hypermarkets, departmental stores, retail stores, and drug stores worldwide. Retail stores are the major revenue generators for several vendors in the hand sanitizer market. Therefore, these stores are important to promote their products. Supermarkets and hypermarkets are some of the store options where vendors can sell their products. Reckitt Benckiser’s Dettol and Unilever’s Lifebuoy are renowned brands, which occupy large shares. Digital sales are another important contributor to the overall growth due to advances in technology and increased penetration of the internet. The online sale is growing at a considerable rate, and it is expected to become a significant platform in the coming years across the world. People have started to become digitally inclined, especially with a high penetration rate of smartphones and gadgets, coupled with internet access for consumers across borders. This shift has driven the online sale of hand sanitizer products.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market Segmentation by Product
4.3.2 Market Segmentation by End-User
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

The study considers the present scenario of the hand sanitizer market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

KEY MARKET INSIGHTS

The analysis of the hand sanitizer market provides sizing and growth opportunities for the period 2019–2025.
• Offers sizing and growth prospects of the market for the forecast period 2020–2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790

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Julia Waven

Julia Waven

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