Selbyville, Delaware, June 03, 2021 (GLOBE NEWSWIRE) --
According to latest report “Hand Sanitizer Market by Type (Gel, Liquid, Foam), By Composition (Alcohol-based Sanitizer, Alcohol-free Sanitizer), Distribution Channel (Retail, Online Platform), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of hand sanitizer will cross $4.5 billion by 2027. Increasing incidences of COVID-19 worldwide and increased sales of hand sanitizers will boost the market growth.
Majority of the countries have been massively affected by the spread of the novel coronavirus which created a public health crisis ever since it started spreading back in December 2019. The virus is spread through the nasal/oral droplets of an infected person, and it attacks the person’s respiratory system in short span, thus making it extremely dangerous. To counter this disease, government and other public health agencies have issued preventive measures which include the personal hygiene practices and use of hand sanitizers frequently to reduce the chance of infection. This has led to a sudden increase in the demand of all the personal hygiene products including hand sanitizers. Rapidly increased sales of hand sanitizers have augmented the growth of the market. Earlier, the hand sanitizers have always been a supplementary product among the personal hygiene category. Large amount of people was oblivious of the infections spread through unhygienic practices and environment. However, the pandemic has increased the awareness among population regarding the overall personal hygiene and it is expected to rise even more during the forecast timeframe.
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The foam-based hand sanitizer market has captured around 16% of the revenue share in 2020 due to the product innovation by market players and increasing uptake of new types of foam-based hand sanitizers. Also, foam-based hand sanitizers have observed to be required in less quantity and shown good outcomes.
The alcohol-based sanitizer dominated more than 93% of the hand sanitizer market share in 2020. Alcohol-based hand sanitizer is observed to be more effective in reducing the microbial load as compared to alcohol-free hand sanitizers. Moreover, WHO & CDC have recommended the use of alcohol-based hand sanitizers, thus propelling the segment growth.
The online platform in the hand sanitizer market is poised to witness 4.6% growth rate through 2027 led by the shift in the purchasing pattern of consumers and increasing number of players switching to online platforms for their daily needs. Furthermore, high discounts, lucrative deals, and free home delivery are some of the factors that attract the customers into adopting new distribution channel.
Asia Pacific hand sanitizer market is estimated to attain a CAGR of 3% by 2027 on account of the increased demand for hand sanitizers in some of the most populated and COVID affected countries such as India and China. Additionally, government initiatives regarding personal hygiene and COVID-19 preventive measures have also impacted the market value in a positive way. In addition, rise in the number of companies manufacturing hand sanitizers is another factor pushing the market progression in the region.
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Some of the prominent companies operating in the market include 3M, Best Sanitizers, Inc., Certus Medical (ABC Compounding Co., Inc.), DEB Group Ltd (S.C. Johnson & Son, Inc.), Ecolab, Godrej Consumer Products Limited, GOJO Industries Inc., ITC Limited, Kutol, L Brands, PAUL HARTMANN AG, PZ Cussons, Reckitt Benckiser Group plc, The Himalaya Drug Company (Himalaya Global Holdings Ltd), Unilever, and Vi-Jon (Berkshire Partners LLC.). These market participants are undergoing various strategic developments such as collaborations and partnerships to increase their revenue share in the industry.
Table of Contents (ToC) of the report:
Chapter 3 Hand Sanitizer Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By composition
3.4.3 By distribution channel
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.7.1 Company matrix analysis, 2020
3.8 PESTEL analysis
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https://www.gminsights.com/toc/detail/hand-sanitizer-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.