New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global hand sanitizer market is projected to gather a revenue of $14,521.7 million and grow at 24.2% CAGR during the 2020-2027 forecast timeframe. The extensive report provides a concise layout of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the 2020-2027 analysis period. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time hand sanitizer market size has prominently increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $3,181.1 million in 2020, while its estimations were $3,072.1 million in the pre-pandemic scenario. People’s increasing inclination towards health and wellness, especially amid the catastrophic stress, along with the improved quality of sanitizers to act as a barrier between infectious contaminants like bacterial, fungal, viral, etc. and the subject are some driving factors for the global hand sanitizer market during the forecast years. Moreover, growing health expenditures by governments and key market players to improve healthcare facilities is also estimated to boost the market growth by 2027.
Request an Exclusive PDF Sample of the Hand Sanitizer Market (Including Tables, TOC, and Figures)
Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global hand sanitizer market is anticipated to grow at 24.2% CAGR during the analysis timeframe, while it was expected to grow at 22.7% CAGR in the pre-pandemic scenario from 2020-2027. The noteworthy rising emphasis on the importance of workplace safety in both developed as well as developing regions along with people’s improved living standards are some factors to augment the market development by 2027. In addition, people’s rising awareness about hand hygiene and supportive policies of government organizations like WHO (World Health Organization) and FDA (Food and Drug Administration) towards the need for sanitation are some other factors to propel the market growth during the forecast years.
Post Pandemic Insights
As per the report, the global hand sanitizer market is predicted to prosper immensely in the upcoming years mainly due to the rising emphasis on minimizing the risk of viral transmission of outbreaks and increased adoption of safety and hygiene policies at workplace in countries like India, Germany, Brazil, Australia, etc. are some factors to bolster the market growth in the upcoming times. Moreover, growing strategic alliances like partnerships and product launches by some prominent market players to strengthen their footprints in the market is yet another to offer abundant market growth opportunities by 2027. For instance, in March 2020, DOW, a renowned chemicals manufacturer, announced to produce 300 tons of hand sanitizer per month for pharmacies and hospitals to curb the virus spread.
Significant Market Players
Some significant hand sanitizer market players include
- Vi-Jon, Unilever
- Best Sanitizers, Inc.
- Dr. Bronner's Magic Soaps
- Farouk Systems Inc.
- Procter and Gamble
- The Himalaya Drug Company
- Reckitt Benckiser Group plc
- GOJO Industries, Inc.
- Ningbo Jiangbei Ocean Star Factory & Trading Co., Ltd.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in March 2020, Coty, a leading cosmetics manufacturer, announced to manufacture hydro-alcoholic gel-based hand sanitizer amid the covid-19 outbreak to curb the virus spread and expand its product’s commercialization across the world.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Schedule a call with an Expert Analyst to get the latest update on Hand Sanitizer Market
More about Hand Sanitizer Market:
Benefits of Using Hand Sanitizer on a Regular Basis
