Press release
Hand Sanitizers Market Report 2024: Strategies And Recent Developments | Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc
Hand Sanitizers Market Trends
The Business Research Company offers in-depth market insights through Hand Sanitizers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The hand sanitizers market size has grown rapidly in recent years. It will grow from $4.04 billion in 2023 to $4.45 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to infectious disease outbreaks, healthcare settings, food industry, public awareness.
The hand sanitizers market size is expected to see rapid growth in the next few years. It will grow to $7.11 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to ongoing health concerns, consumer hygiene practices, travel and hospitality, green and sustainable products. Major trends in the forecast period include antimicrobial resistance (amr), customized hand sanitizers, touchless dispensing, natural and organic hand sanitizers.
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Market Segmentation:
The main types of hand sanitizers are quaternary ammonium compounds (QACs) based, alcohol-based, tridosan-based, and other types. An alcohol-based sanitizer is defined as a liquid containing alcohol at a certain minute level that is designed for application to the hands for the purpose of inactivating microorganisms and suppressing their growth. The alcohol-based sanitizers usually contain ethanol, n-propanol, isopropanol, or a mixture of these. The various hand sanitizer products are gel, foam, liquid, and other products. The major distribution channels of hand sanitizers include online stores, pharmacy stores, departmental stores, and other distribution channels. The main end-use industries for hand sanitizers are hospitals, restaurants, schools, household purposes, and other end-users.
Major Driver - Covid-19 Pandemic Spurred Significant Growth In The Hand Sanitizer Market
The coronavirus outbreak was a major driver for the growth of the sanitizer market during the period. Hygiene is an important part of staying safe from the protection of coronavirus and staying healthy. Therefore, the demand for sanitizers has grown tremendously post the COVID-19 outbreak globally since the outbreak of the virus in China as sanitizers are effective against coronavirus. The Centers for Disease Control (CDC) recommends the use of alcohol-based hand sanitizers with greater than 60% ethanol or 70% isopropanol as the preferred form of hand hygiene in healthcare settings. According to the U.S. Food and Drug Administration, more than 1,500 additional manufacturers have registered with the agency to meet the increased demand for hand sanitizers. Hence, the COVID-19 outbreak coupled with growing concerns for hygiene is anticipated to escalate the demand for sanitizers during the year 2020 and in years to come.
Competitive Landscape:
Major companies operating in the hand sanitizers market include Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Unilever, Vi-Jon Laboratories Inc., Chattem Inc., Best Sanitizers Inc., Kutol Products Company, Skinvisible Inc., Nice-Pak Products Inc., Lion Corporation, Medline Industries Inc., Magica, Inc., Clear-San Pro, Dana Medco, The Betty Mills Company (BettyMills.com), NBGS USA, C&L Supply Company, Inc., Lancaster Packaging, Ryan Herco Flow Solutions, Himalaya Wellness Company, Environmental Science Hygiene Ltd, Best Sanitizers, Saraya Co., Clorox Company, Ecolab Inc., SC Johnson & Son, Inc., Best hand sanitizers, Inc., 3M Company, Vi-Jon Inc., Deb Group Ltd., Zoono Group Limited, 4E Brands North America LLC, The Clorox Company, The Procter & Gamble Company
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Top Trend - Rapid Expansion Of Hand Sanitizer Production Capacities Amid Growing Demand
The expansion of production capacities and the revamping of companies to meet the higher demand for hand sanitizers is a major trend shaping the sanitizer industry. For instance, Bell International Laboratories, a vertically integrated cosmetics manufacturer, announced the expansion of their production of alcohol-based hand sanitizers (gels and sprays) and is expected to produce 22 million units in April. Moreover, companies such as Radio Khaitan and Bacardi, manufacturers of alcoholic drinks, have turned into sanitant producers amid the COVID-19 outbreak. This step was taken for companies' contributions during the coronavirus pandemic to meet the increasing demand for hand sanitizers for health and hygiene. Therefore, increasing production capacities and companies entering the production of hand sanitizers a key trend for the sanitizer market's growth.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hand Sanitizers Market Characteristics
3. Hand Sanitizers Market Trends And Strategies
4. Hand Sanitizers Market - Macro Economic Scenario
5. Hand Sanitizers Market Size And Growth
…..
27. Hand Sanitizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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