Hand Sanitizers Market Key Drivers, Overview 2024-2033: Strategic Examination

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.

Market Overview -
Hand sanitizers refer to substances or liquids used for cleaning objects to get rid of harmful microorganisms, including bacteria. These are products that combine disinfectant and detergent and are used to remove dirt, reduce, or kill bacteria, and dissolve grease from the surface by at least 99.9%.

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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

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.

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Key Segments -

The hand sanitizers market covered in this report is segmented -
1) By Type: Quartenary Ammonium Compounds Based, Alcohol Based, Tridosan Based, Other Types
2) By Product: Gel, Foam, Liquid, Other Products
3) By Distribution Channel: Online Store, Pharmacy Store, Departmental Store, Other Distribution Channels
4) By End User: Hospitals, Restaurants, Schools, Household Purpose, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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