The Global Hand Sanitizer Market- Growth Drivers, Trends and Impact of Covid-19
The global hand sanitizer market has been segmented based on Product Type (Gel, Foam, Liquid, Others) , by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Drug stores/Pharmacies, Online Retail Stores), by Region (North America, Europe, Asia Pacific and Rest of the World)
Introduction
The global hand sanitizer market is a contributing segment of the global personal care market. From a top-down perspective, Strategy Here has analyzed the global personal market as a parent market to set the context in which the global hand sanitizer market will be analyzed.
Hand sanitizer, also called hand antiseptic, handrub, or hand rub, agent applied to the hands for the purpose of removing common pathogens (disease-causing organisms). Hand sanitizers typically come in foam, gel, or liquid form. Their use is recommended when soap and water are not available for hand washing.
Shifting consumer preference towards convenient hygiene products is expected to drive the market. In addition, the recent COVID-19 pandemic at the beginning of 2020 has spurred the market for hand sanitizer.
Table of Contents
Market Overview
The global hand sanitizer market is expected to grow to $7207.54 million by 2025
Growth momentum is expected to accelerate during the forecast period with a 9.83% CAGR.
The hand sanitizer market is registering high market growth due to the awareness of hygiene, and higher sales post the Covid-19 pandemic.
North America is estimated to be the largest market in the forecast years.
Key Trends
The foam-based sanitizer segment is anticipated to witness lucrative growth. In 2019, the segment accounted for 16% of the market share. This growth can be ascribed to the product’s ability to easily stick to hands when applied and covers major portion of the area. Foam-based hand sanitizers also offer enhanced virus protection for a longer duration.
The alcohol-based sanitizer segment observed over 93% of the market share in 2019 and is anticipated to show appreciative growth over the forthcoming years.
Key Market Players
Kimberly Clark, Reckitt Benckiser Group plc, Procter and Gamble, The Himalaya Drug Company, GOJO Industries, Inc., Henkel AG and Company, Unilever, Vi-Jon, Chattem, Inc., Best Sanitizers, Inc. and Kutol are some of the leading players operating in the hand sanitizer market.
The hand sanitizer market is highly competitive in nature. Companies are focusing on expanding their production capacity and are adopting innovative technologies to meet consumer demand for hand sanitizers.
Growth Drivers and Challenges
The growing health concerns globally owing to the outbreak of various diseases is a factor leading to the growth of the market.
Growing awareness among people for hand hygiene is one of the major factors driving the huge demand for the global hand sanitizer market.
The demand is also driven by the launch of innovative sanitizers such as touchless dispensers, thus resulting in more sales.
Use of hand sanitizers with alcohol and certain toxic ingredients such as benzalkonium chloride are not safe for long-term use. Moreover, there are concerns that using antibacterial sanitizers include bacteria-killing chemicals that can contribute to antibiotic-resistant bacteria, reducing the impact of hand sanitizers for killing germs.
Some forms of gel hand sanitizers have prompted fire due to their flammable nature. Alcohol-based hand sanitizers put individuals at a greater risk to catch fire even after the product evaporates and dries completely.