Press release
Global Hand Sanitizer Market Size To Grow At A CAGR Of 5.20% In The Forecast Period Of 2023-2028
Hand Sanitizer Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 6.05 billion
Forecast CAGR (2023-2028): 20%
Forecast Market Size (2028): USD 7.4 billion
The growing health awareness amongst the people and the rapid spread of viral infections are the key factors driving the growth of the global hand Sanitizer market. The rising population and the growing disposable incomes are further supporting market expansion. The surging demand for personal hygiene and anti-infection products is aiding the market demand for hand Sanitizers across the globe. The rising infrastructural activities like the construction of schools, shopping malls, and hospitals has positively impacted the market for hand Sanitizers and expanded its scope for growth.
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Gel types of hand Sanitizers are expected to witness a steady growth in the hand Sanitizer market during the forecast period owing to their ability to spread evenly onto the palms of hands, resulting in better cleansing action and quicker effect. Hospital end uses of hand Sanitizers are forecasted to witness a surging demand in order to provide support adequate sanitation, particularly for bedridden patients and hospital personnel. Furthermore, restaurant end uses are also likely to witness growth due to their increasing focus on food safety and hygiene and preventing spread of bacteria and viruses.
Hand Sanitizer Industry Definition and Major Segments
Hand Sanitizers are alcohol-based cleaning agents that are designed to be used on hands for the removal of germs and pathogens. They are often used as an alternative to hand washing when soap and water are not available. Available in forms such as sprays, gels, and foams, hand Sanitizers typically contain alcohols such as isopropyl alcohol and ethanol in varying concentrations.
On the basis of product, the market is segmented into:
Gel
Foam
Spray
Based on distribution channel, the market is classified into:
Online Stores
Departmental Stores
Pharmacy Stores
Others
On the basis of end use, the market is divided into:
Restaurants
Schools
Hospitals
Household Purpose
Others
Based on region, the market is differentiated into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Hand Sanitizer Market Trends
Stringent regulations by various governments for sanitation and hygiene and the surging demand for on-the-go sanitation facilities are the key trends of the global hand Sanitizer market that are adding to its growth. While the COVID-19 pandemic may have triggered the increased awareness regarding importance of hand sanitising, the trend continues, supporting the sustained growth of the market for hand Sanitizers. The availability of different variants of hand Sanitizers with fruity and floral scents coupled with the availability of foot-operated, contactless dispensing containers have made the atmosphere favourable for the rapid market growth.
Increased celebrity endorsements and high-quality, appealing packaging are also likely to support the growth of the market. The thriving e-commerce sector has provided lucrative opportunities for the overall market growth by providing services like heavy discounts, home delivery services, and wider choice. There have been increased investments in the research and development activities of hand Sanitizers, which is likely to create a boom in the hand Sanitizer market.
Keeping in mind the hectic lifestyles and travelling routines of the growing populations, manufacturers have invested in packaging of mini sachets and disposable, travel-friendly hand Sanitizers. The growing prominence of using natural products has encouraged market players to incorporate natural products like aloe vera and witch-hazel into hand Sanitizers. The presence of these ingredients makes hand Sanitizers safe to use for people with skin problems like rashes and inflammation, which is expected to lead to the expansion of the hand Sanitizer market.
Key Market Players
The major players in the global hand Sanitizer market report are Himalaya Global Holdings Ltd., Proctor and Gamble Company, Gojo Industries, Inc., Henkel AG and Co. KGaA , Unilever PLC, 3M Company, Reckitt Benckiser Group PLC, Colgate-Palmolive Company, Sanofi S.A., and The Clorox Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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