OTTAWA, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global hand sanitizer market size was valued at US$ 2.64 billion in 2019 and garner growth at a noteworthy CAGR of 21.75% during forecast period 2020 to 2027.
Alcohol-based hand sanitizers are efficient tool to fight infections caused due to harmful germs. These sanitizers are mainly significant for appropriate use in the office environment. During any specified workday, workforces use their hands different activities those expose them to harmful bacteria and germs. Illness is related to productivity loss cost employers around USD 225.8 billion annually in the U.S. Since that 80% of all infections are communicated by hands it has become vital to implement an operative hand hygiene program at workplaces.
As per CDC and World Health Organization (WHO) hand sanitizer has emerged as great tools to escapefrom getting infected and spreading germs. By keeping hand sanitizer in tactical places in the office, and other high traffic zones, employers can inspire staffs to advance their hand hygiene and create the workplace a healthier working location.
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Growth Factors
Hand sanitizers prove to beadvantageous product to consumers in multiple aspects. The extent to which it is stress-free to make use of them and convenience has made the hand sanitizers prevalent amid consumers. As per studies, this product also curtails the risk of respiratory and gastrointestinal infections among users. Furthermore, hand sanitizers also comprise ingredients that aid in dropping skin irritation and dryness than hand washing. Also various studies have shown that classroom application of hand sanitizers may decrease the absence of students caused due to illness by 20%.
Growing inclination towards wellness and health and product modernization like addition of perfumes in preparation of sanitizers are anticipated to increase the growth of the global hand sanitizer market. Besides, upgrading living standards, increase in health expenditure, and surge in hand hygiene awareness, and backing from organization such as FDA, WHO, and others to the essential need for sanitation enhance the growth of global hand sanitizers market. However, health risks related with chemical ingredients are estimated to impede the market growth to some extent during the prediction period.
Report Highlights
- On account of global outbreak of Coronavirus, the practice of hand sanitizers is endorsed by Centre for Disease Control and Prevention, World Health Organization, and doctors across the globe, requesting that the usage of alcohol-based hand rub is one of the most operative defenses witnessed for this virus. This factor is presently tremendously driving the demand for hand sanitizer across the world.
- In Asia Pacific region, swelling dominance of online shopping has reformed the growth of the market and is anticipated to propel the demand for hand sanitizers during years to come. For example, online websites LikeFlipkart, Amazon, Grofers, and other similar online delivery service companies are offering diverse kinds of hand hygiene products.
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Regional Snapshots
In 2019, North America dominated the global hand sanitizer market due togreat hygiene standards amongst the U.S. population. Asia Pacific is estimated to witness the strong growth due to rising COVID19 pandemic outbreak and anxiety towards wellness in the region. Furthermore, upgrading lifestyle and growing disposable income are further stimulating the growth of the hand sanitizer market in Asia Pacific.
Asia Pacific expected to record highest growth rate during years to come on account of rising awareness about hand hygiene amid consumers. Hence, ground-breaking and diverse types of hygiene and personal care products are accessible in the market emphasizing on convenience factors for buyers.
Key Players & Strategies
Hand sanitizers offers many benefit over traditional hand washing products as they can be applied straight without water. Renowned manufacturing firmslike Unilever, Henkel Corporation, and Procter and Gamble are providing hand sanitizers in convenient packaging including mini bottles and sachet that are portable for consumers. These factors have broadened the scope of hand sanitizer market across the world.
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Some of major companies operative in this marketplace are Proctor & Gamble Company and Reckitt Benckiser Group PLC. Most of theevolving market companies are centering on deliberate acquisitions with leading players in sophisticated and mature markets. This business strategy helps them to expand product assortment and permits diversification and offers access to constant cash flow along with further growth prospects. The customer preference toward hand sanitizers having natural substances is causing in the extension of product ranges by the many prominent companies. For exmaple, Dr. Bronner’s launched the Peppermint-scented Organic Hand Sanitizer which is a certified fair-trade and organic product comprising organic glycerin.
Several major players profiled in this research report are Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Reckitt Benckiser Group, The Himalaya Drug Company, Vi-Jon Laboratories Inc., Chattem Inc., Unilever,Kutol Products Company and Best Sanitizers Inc.
Market Segmentation
By Product Type
- Foam
- Gel
- Liquid
By Distribution Channel
- Drug Store
- Online
- Hypermarket & Supermarket
- Specialty Store
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Middle East & Africa
- Latin America
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