We at Facts & Factors have recently published an analytical study titled “Global Hand Sanitizer Market” that captures the market in terms of applications, uses, and a regional overlook. We estimate that the total global Hand Sanitizer Market revenue for the projected forecast will fall at USD 17 Billion by 2026 from an initial value of USD 8 Billion from 2020 with a CAGR growth rate of 31% during the forecast period 2021-2026.
Hand sanitizers are a form of hand disinfectants that eliminate a majority of germs and bacteria belonging to the norovirus and clostridium family group. Hand sanitizers are the preferred choice of sanitizing measures where water scarcity is observed. The major driving forces behind the significant growth of the global hand sanitizer market are the rise of the COVID-19 pandemic and rising consumer preference regarding personal hygiene. Promotional advertisement campaigns and portable features of the product make it highly viable for the growth of the market.
Hand sanitizers contain a range of added benefits such as decreasing dryness of the skin, minimizes the risk of gastrointestinal and respiratory infection among disease-riddled patients and these advantages are projected to propel the growth of the market during the forecast timeframe. Furthermore, additional factors including the rising promotional campaigns, rising healthcare infrastructure, and support from the global organizations will promote the growth of the hand sanitizer market over the forecast timeframe.
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Top Market Players
The key participants in the global hand sanitizer market are Henkel AG and Company, GOJO Industries, Inc., The Himalayan Drug Company, 3M, Certus Medical, Ecolab, and Colgate-Palmolive Company, among others.
The latest developments in the global hand sanitizer market during the forecast are as follows:
- Due to the increased demand for hand sanitizers during the peak of COVID-19, Colgate-Palmolive expanded its operational capabilities at Cambridge, Ohio.
- Unilever ANZ increased their sanitizer production capacity for the Lifebuoy product line in order to cope up with the demand.
- L Brands recently announced a line of hand sanitizers under their Victoria’s Secret brand in order to fill the vacuum of demand and supply.
The global hand sanitizer market can be segmented into hypermarket and supermarkets, specialty stores, drugs stores, departmental & pharmacy stores, online, and others on the basis of distribution channels. The segment pertaining to hypermarkets & supermarkets will account for the largest market share during the advent of the forecast owing to the easy availability of the product and decreased delivery times. Decreased prices and attractive packaged offers will further boost the growth of the global hand sanitizer market to a greater extent.
The global hand sanitizer market can be broken down into restaurants, schools, hospitals, household purposes, and others on the basis of end-users. The category of hospitals will account for the largest market share during the advent of the forecast in terms of global revenue collection due to increased sanitization needs for a variety of medical procedures. Furthermore, rising infection risks among hospitals will further boost the sales in the segment. However, with the emergence of COVID-19, its use has increased for household purposes.
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North America Will Dominate The Global Hand Sanitizer Market During the Forecast Period
North America is expected to witness the largest market share during the forecast in terms of global revenue collection. Factors helping accumulate the market share are the wider availability of products and the increased penetration of offline channels. Moreover, the presence of key players in the market and the largest consumer base spending on personal hygiene and care will propel the growth of the global hand sanitizer market during the region. Asia-Pacific is expected to witness the fastest growing CAGR during the forecast owing to increased awareness among consumers for personal and hand hygiene.
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