New York, USA, Aug. 04, 2021 (GLOBE NEWSWIRE) -- The inclusive report by Research Dive provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
- The global hand sanitizer market is predicted to garner revenue of $14,521.7 million by 2027, growing further at a CAGR of 24.2% in the forecast period from 2020-2027.
- The global protective face masks market is set to garner revenue of $2,467.5 million by 2027, increasing rapidly at a CAGR of 10.8% in the estimated timeframe from 2020-2027.
Current Market Scenario
- Global Hand Sanitizer Market
In the current times, hygiene is of utmost importance especially when in public locations such as workplaces. The extensive use of hand sanitizers is necessary especially in developing countries where the number of infectious illnesses is extremely high. These factors are expected to boost the growth of the global hand sanitizer market.
The key market players have also been ensuring the growth of the market by producing and launching products that are useful in this critical time. For instance, in April 2020, Procter and Gamble (P&G) announced an action plan to ensure control on the transmission rate of the COVID-19 virus by manufacturing their own range of masks and sanitizers, which would be then distributed among the frontline workers, relief organizations, and other professionals.
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- Protective Mask Market
The preventive measures taken to control the spread of bacteria and viruses among people in crowded places along with the need to reduce the effect of pollution on them, has ensured the rapid growth of the global protective mask market.
The key players have also taken initiatives to ensure the growth of the market while also providing the products and services needed for the safety of people. For instance, in February 2021, Alpha Solway Ltd, an expert in the manufacture of disposable respirators and other protective gear, launched a new range of advanced protective face masks. Termed as the Apha Solway 2500 series, it contains FFP2 and FFP3 respirators to help filter out contaminants and is available in both valved and non-valved variants.
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WHO Steps
Hand sanitizers became an essential commodity that was suggested to help in reducing the transmission rate of the coronavirus. As per the guidelines by the World Health Organization (WHO), there are two formulations of alcohol-based sanitizers that were approved and suggested to be used by them. The two basic formulations can be found of prepared by using the below proportions of elements.
- The first formulation is that of ethanol 80%, glycerol 1.45%, and hydrogen peroxide of 0.125%.
- The second approved formulation should contain isopropyl alcohol 75%, glycerol 1.45%, and hydrogen peroxide 0.145%.
These chemical proportions are most effective in neutralizing any virus or bacteria that an individual could have come into contact with. This adds to the safety of an individual especially in the times of a pandemic.
On the other hand, majority of companies have increased the production of the masks as the demand of the mask is very high during the COVID-19 pandemic, which is predicted to create more growth opportunities in the estimated period. The WHO suggests that a person need to compulsorily wear a mask in areas which have a high concentration of infectious cases, in crowded location where it’s difficult to maintain some distance, and in places which do not have proper ventilation facilities.
Regional Information
The Asia-Pacific hand sanitizer market is expected to gain revenue of $3,949.9 million by 2027 at a steady CAGR of 24.9% in the analysis period. This growth is due to the presence of viral infections that have been prevalent in the countries which have contributed to the production of personal hygiene products.
The North American protective face masks market is set to surpass revenue of $913.0 million by 2020, rising at a steady CAGR of 10.4% in the forecast period. The growth of the market is credited to the exponential rise in the number of coronavirus cases which have made the use of face masks mandatory in the region.
Key Market Players
The report also provides a detailed list of recognized market players whose contributions have helped the hand sanitizer industry grow further. The key players are as listed below:
- The Himalaya Drug Company
- Reckitt Benckiser Group plc
- Procter and Gamble
- GOJO Industries, Inc
- Ningbo Jiangbei Ocean Star Factory and Trading Co, Ltd
- Farouk Systems Inc
- Dr. Bronner’s Magic Soaps
- Best Sanitizers, inc
- Vi-Jon, Unilever
Some of the prominent key players that worked on enhancing the protective face masks market are –
- Reckitt Benckiser Group plc
- Intech Safety Private Limited
- Delta Plus Group
- Alpha Solway Ltd
- Moldex-Metric, Inc
- Polison Corporation
- Mine Safety Applicances (MSA) Company
- Ansell Limited
- JSP Ltd
- 3M
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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