Germ-Free Gains: Hand Sanitizer Market's Remarkable Journey from US$ 1.7 Billion to US$ 3.7 Billion by 2033

The Hand Sanitizer Market is expected to be worth US$ 1.7 billion in 2022, recording a CAGR of 6.6% over the forecast period. The global market's absolute dollar growth is US$ 1.9 billion. It is anticipated to explode in the next decade, with experts expecting an annual growth rate of 7.2% from 2023-2033 and a market worth US$ 3.7 billion by 2033.

Healthcare spending is rising, which is predicted to raise public awareness about the need for hygiene and safety in everyday life. Staying hygienic lowers the risk of infection and contamination by any microbe in the body.

Increased sanitary awareness is likely to fuel revenue growth in the hand sanitizer market. Both the expense of treating the illness and the mortality rate was high during the COVID-19 Pandemic. Using hand sanitizers and wearing face masks are two critical approaches to limit spreading of virus and lessen diseases severity.

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Increasing COVID-19 Infection Globally

Rising global awareness of cleanliness and personal hygiene is anticipated to raise demand for hand sanitizer, an antiseptic alternative to soap and water. It aids in the prevention of most of contagious diseases, such as COVID-19, norovirus, influenza, meningitis, hand, foot, and mouth disease, whooping cough, and methicillin-resistant Staphylococcus aureus (MRSA).

As people become more aware of how COVID-19 affects the population, they are more concerned about their own health and cleanliness. In the aftermath of the ongoing pandemic crisis, the hand sanitizer business has seen considerable developments worldwide.

However, due to supply chain interruptions and rising supply-demand gaps around the world, the sector is currently facing substantial problems in scaling up manufacturing capacity to assist relieve the supply constraint. To alleviate the supply constraint, numerous corporations have begun to use their mass production capabilities to produce these products for their home markets.

In response to the COVID-19 pandemic, innovators, and entrepreneurs all around the world are revamping their business models. Breweries and distilleries are shifting their focus from spirits to hand sanitizers in the craft cocktail industry.

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Key Takeaways

The hand sanitizer market is expected to record a CAGR of 7.2% from 2023 to 2033.
The hand sanitizer market in India is primarily driven by the rising trend of aromatic hand sanitizers with natural and eco-friendly chemicals to maintain hand hygiene.
The hand sanitizer market is dominated by North America region.
Asia Pacific is the most rapidly rising region.

Key Development

In response to the COVID-19 pandemic, Honeywell announced an increase in its manufacturing activities at two chemical manufacturing plants in April 2020 to produce and provide hand sanitizer to government agencies. The company's facilities in Muskegon, Michigan, Seelze, and Germany manufactured these products for government agencies and institutions.
SC Johnson, a global manufacturer of household and professional cleaning and disinfecting products, converted a line designated for new product testing in April 2020 to produce up to 75,000 bottles of hand sanitizer per month for health workers, first responders, and the company's own production employees.
In May 2020, Doctor Shultz's joined together with the clothing company Ilthy to produce and supply face masks and hand sanitizer. Ahava, released of 3.4 oz. FDA-approved gel hand sanitizer in September 2020. Using skincare skills to minimize bacteria, resulting in less infection. During the COVID-19 outbreak, product advancements are likely to meet the demand for hand sanitizers.
On March 22, 2022, Dabur Ltd., an Indian multinational consumer products firm, declared that it will stop producing sanitizers owing to shrinking demand, while Radico Khaitan, a liquor powerhouse, reduced pure alcohol manufacturing to supply sanitizer companies.

Hand Sanitizer Market Key Segment

By Product Type:

Foaming Hand Sanitizers
Foaming Instant Hand Sanitizer
Instant Hand Sanitizer Gel
Spray Hand Sanitizer

By Content:

Alcohol Based
Non-Alcohol Based

By Active Ingredient:

Ethyl Alcohol
Benzalkonium Chloride
Isopropyl

By Packaging Type:

Flip Flop Bottles
Pump Bottles
Dispensing Packets
Jars/Cans

By End Use:

Institutional
Hospitals & Healthcare
Offices/Commercial
Foodservice
Food Processing
Schools & Universities
Manufacturing & Industrial
Hospitality
Grocery, Convenience Store & Retail
Others
Household

By Pack Size:

Below 100 ml
101 ml-300 ml
301 ml -500 ml
501 m & Above

By Sales Channel:

Direct
Indirect
Hypermarkets/Supermarkets
Specialty Stores
Multi-Brand Stores
Discount Stores
Independent Departmental Stores
Online Retailers
Other Sales Channel

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.