Pune, Sept. 07, 2020 (GLOBE NEWSWIRE) -- The impact of the COVID-19 hand sanitizer market size is expected to be positive as the pandemic has caused booming sales of hand sanitizers around the world, shares Fortune Business Insights™ in its report, titled “Impact of COVID-19 on the Global Hand Sanitizer Market Size, Share, Industry Analysis and Regional Forecast, 2019-2026”. With coronavirus cases reaching new highs daily, the demand for hand sanitizers has witnessed a meteoric rise since March 2020.
The CNBC reported in March that hand sanitizer sales in the UK rose by 255% in February, forcing retailers such as Boots to cap the number of sanitizers purchased at two per person. Similarly, in Italy, hand sanitizer sales grew astronomically by a startling 1,087% in February, just as the pandemic was gathering momentum, the CNBC highlighted in its report.
Walmart India also reported an unprecedented spike in hand cleaning product sales, compelling the chain to put limits on purchase. The pandemic is, therefore, likely to surge revenues for companies in this market, as long as the crisis persists.
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The report addresses the following questions:
- How will the global hand sanitizer market get affected in the short- and long-term by the COVID-19 pandemic?
- What kind of impact will the coronavirus outbreak have on the regional prospects of the market?
- How will the pandemic affect the upcoming market opportunities?
- How has the global market been segmented vis-à-vis the COVID-19 outbreak?
- What been the governmental response to this pandemic?
- How are the key players responding to this phenomenon and what are the strategies they are implementing?
Competitive Landscape
Key Players to Leverage Innovation Capacities and Elevate Production
The unparalleled health and economic crisis precipitated by the coronavirus is providing key players opportunities to innovate and come up with novel hand disinfecting solutions. Besides this, some of big companies in the market are adopting measures to boost their production capacity and meet the soaring demand for hand sanitizers.
List of the Leading Companies Profiled in the COVID19 Hand Sanitizer Market are:
- SC Johnson & Son, Inc. (U.S.)
- Best Sanitizer Inc. (U.S.)
- Bacardi Limited (Bermuda)
- Himalaya Global Holdings Ltd. (India)
- Gojo Industry Inc. (U.S.)
- Proctor & Gamble (U.S.)
- CVS Health (U.S.)
- Unilever Plc. (U.K.)
- Henkel AG & Company (Germany)
- Reckitt Benckiser (U.K.)
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Driving Factors
Promising Research into the Efficacy of Hand Sanitizers to Boost Market Prospects
Promotion of hand sanitizers by the World Health Organization (WHO) and other medical agencies such as the Centers for Disease Control and Prevention (CDC) sparked questions regarding the actual efficacy of these products. This led to research studies to investigate the potential of hand cleaning solutions in killing the coronavirus.
For example, in April 2020, the University of Minnesota’s Center for Infectious Disease Research and Policy published an article that illustrated a study conducted by Swiss and German researchers to test the effectiveness of hand sanitizer formulations recommended by the WHO. The study found that sanitizers having 40% or more ethanol effectively killed the coronavirus, which is in line with the WHO’s suggestions.
Moreover, the authors of the study also emphasized on the rubbing of hands after sanitizer application for 30 seconds, which has also been highlighted by the WHO in its initial guidelines. Thus, with research supporting the WHO’s directives, the development of alcohol-based sanitizers is likely to get boosted and fuel the hand sanitizer market growth.
Regional Insights
North America to Lead the Global Market with a 38% Share
The market size in North America stood at USD 485.59 million in 2019 and the region is expected to lead the hand sanitizer market share owing to exponential rise in coronavirus cases. In August 2020, the number of COVID-19 cases in the US surpassed 6 million, with approximately 180,000 deaths. Europe is undergoing similar trends, with surging coronavirus cases, especially in the UK, France, Italy, and Spain.
Moreover, countries are now bracing for the “second wave” of the pandemic, wherein more people are expected to contract the infection and die. Overall, the impact of the pandemic on a country will depend of the level of preparedness, proportion of vulnerable sections, governmental measures, and general awareness regarding personal hygiene.
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https://www.fortunebusinessinsights.com/impact-of-covid-19-on-hand-sanitizer-market-102719
Industry Developments:
- May 2020: The US-based personal care brand, by Humankind, introduced its maiden alcohol-based hand sanitizer that is also free of plastics. Priced at $20 and available in two variants, the product comes in reusable aluminum bottle and comprises 65% alcohol.
- April 2020: The German consumer goods giant, Henkel AG, announced that it will increase its production capacity of hand sanitizers at the company’s Dusseldorf site. Furthermore, the company will be donating 50,000 liters of hand disinfectants to the surrounding healthcare facilities and public institutions under its ‘Global Solidarity Program’.
Have a Look at Related Research Insights:
Hand Wash Market Size, Share & Industry Analysis, By Product (Ordinary Hand Wash and Waterless Hand Wash), End-User (Commercial, Residential, and Industrial), Sales Channel (Pharmacy Stores, Supermarket/ Hypermarket, Online Channels, and Others), and Regional Forecast, 2020-2027
Global Hand Sanitizer Market Size, Share & Industry Analysis, By Product Form (Foam, Gel, and Liquid), Type (Alcohol-based and Alcohol-free), Distribution Channel (Pharmacy Stores, Supermarkets/ Hypermarkets, Online Retail Channels, and Others), End-User (Schools, Restaurants, Hospitals, Household Purpose, and Others), and Regional Forecast, 2019-2026
Household Cleaning Products Market Size, Share & Covid-19 Impact Analysis, By Product (Laundry Detergents, Surface Cleaners, Dishwashing Products, Toilet Cleaners, and Others), and Regional Forecast, 2020-2027
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