Increasing hygiene concerns, growing number of government initiatives to support the use of hand sanitizer coupled with to minimize the spread of Covid-19 are the major factors that will contribute to the growth of the hand sanitizer market.
Dublin, Ireland – July 8, 2020 /MarketersMedia/ —
The global hand sanitizer market is expected to witness strong demand during the forecast period include the pandemic of coronavirus, which is rising the hygiene concerns among people and the increasing government efforts to create awareness related to hygiene by supporting campaigns launched by organizations such as WHO. Additionally, the increasing number of initiatives taken by various governments, such as providing licenses to the distilleries, will further energize the production volume of the hand-sanitizes. For example, The Food and Drug Administration (FDA) issued guidance to communicate its policy for the temporary preparation of the alcohol-based hand sanitizers by the firms which are registered as over-the-counter drug manufacturers under the circumstances that are present in the guidance for the duration of a public health emergency.
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The accelerating adoption of hand sanitizers in various areas such as hospitals and healthcare facilities, to minimize the spread of Covid-19, is another factor that is responsible for the growth of the hand sanitizer market size over the next six years. The increasing incidences of the COVID-19 have led to a rise in the awareness among the consumers for following cleaning practices and regularly sanitizing their hands. These factors are contributing to the growth of the hand sanitizer market share in terms of revenue.
The increasing disposable income, the inclination of consumers towards wellness & healthy lifestyle, and the rising expenditure on health will open new doors for growth of the hand sanitizer market size over the coming years. Several global giants are widely adopting strategies and launching marketing and promotional campaigns to encourage the utilization of hand sanitizers among people. On the other hand, the growing awareness related to the health issues caused by the chemical ingredients used in the sanitizers will have a negative impact on market growth.
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On the basis of product, the gel segment is projected to emerge as the maximum revenue generating segment over the forecast period. The increasing adoption of gel-based hand sanitizers is mainly driven by its ability to spread easily and penetrate into the skin to destroy the bacteria. Moreover, the ease to use and requirement of less time to kill the germs are certain factors that are further energizing the demand of the segment in the market.
On the basis of the distribution channel, the online segment is poised to expand over the next six years. This is due to the increasing sales of hand sanitizers from this distribution channel driven by the growing impact of the marketing campaigns launched by the key players. In addition to this, the growing penetration of the internet, flexibility to choose, the availability of various brands, and free home delivery option will further surge the demand of the segment in the market.
On the basis of the region, North America is predicted to dominate the hand sanitizer market in the next six years. The key drivers accelerating the growth of the hand sanitizer market size in this region are the growing incidences of Covid-19, especially in the U.S. and the increasing concerns of the consumers to maintain proper hygiene and health.
The key players of the hand sanitizer market include Himalaya Herbal Healthcare, Vi-Jon, GOJO Industries, Inc., Best Sanitizers, Inc., Unilever, Procter & Gamble, Reckitt Benckiser Group plc, Henkel Corporation, Carroll Company, and Cossmic Products, among others.
The research report on the hand sanitizer market provides an in-depth analysis of the market revenue based on the product, distribution channel, content, packaging type, pack size, and region for the forecast period from 2020 to 2027. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for the market. The report also analyses the competitive landscape, major players, and their strategies in 2019. The competitive landscape section of the report captures and highlights the recent developments in the market.
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