Press release
What's driving the Hand Sanitizer Market trends? 3M, Bath & Body Works Direct, Inc, Best Sanitizer, Inc, Certus Medical, Deb Group Ltd, Ecolab, Godrej Group, GOJO Industries, Inc, Hartmann Group, ITC Limited, Reckitt Benckiser Group plc, The Himalaya Drug
Instead of using conventional alcohol, alcohol-free sanitizers use products such as benzalkonium chloride as active ingredient to make up the end-product as repeated use of an alcohol-free hand sanitizer does not cause skin irritation like alcohol-based one. The segment held around 7% of the overall market share in 2019 and is likely to register considerable growth over the projected timeframe.
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3M, Bath & Body Works Direct, Inc, Best Sanitizer, Inc, Certus Medical, Deb Group Ltd, Ecolab, Godrej Group, GOJO Industries, Inc, Hartmann Group, ITC Limited, Reckitt Benckiser Group plc, The Himalaya Drug Company, Unilever
The global hand sanitizer market is expected to witness tremendous revenue growth over the forthcoming years owing to the momentous rise in product demand due to the rising spread of the coronavirus. As enterprises, governments, and non-profit organizations team up to control the impact of the coronavirus, the hand sanitizer market is expanding at a significant rate.
With regards to the distribution channel, the hand sanitizer market is divided into retail, and online platform. Among these, the retail segment is expected to witness a slowdown in growth in coming years. The overall segment is likely to witness around -3% CAGR over 2020 and 2026, owing to easy accessibility of hand sanitizer in near-by stores.
From a regional reference frame, the LATAM hand sanitizers market is slated to anticipated to register a remunerative g
rowth trend over the forecast time period. The region held an overall market value of around USD 56 million in 2019, it is further expected to register growth attributing to the rising COVID-19 incidences in Brazil and Mexico.
Attributing to the rapidly growing product demand, several brewers have entered the domain by turning their respective alcohol reserves into different hygiene products. For instance, leading global alcoholic beverage producer, AB InBev, is leveraging the key ingredient it uses in its beverages to fight against the COVID-19 spread.
Collaborating with their partners, the firm is packaging and supplying disinfectant alcohol alone, and also transforming the alcohol hand sanitizers.
The overall hand sanitizer market is bifurcated in terms of type, composition, distribution channel , and regional landscape.
With respect to type, the market landscape is further bifurcated into liquid, gel, foam, and others. Among these, the gel type segment is anticipated to register a slowdown in growth over the forecast timeframe. In fact, the gel type segment is expected to witness a CAGR of -2% between 2020 and 2026. The slowdown is growth is being attributed to the widescale availability of the product across the globe.
In terms of composition, the overall hand sanitizer market is divided into alcohol-based sanitizer, and alcohol-free sanitizer. Among these, the alcohol-free sanitizer market is likely to register substantial growth in coming years.
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