What are the Upcoming Business Trends in the Hand Sanitizer Market?
18-Mar-2020: The global hand sanitizer
market size is anticipated to reach USD 5.8 billion by
2025, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 12.6% over the forecast period. Growing awareness related to health and
wellness products among consumers and rising inclination towards usage of
sanitizer is anticipated to drive the market over the forecast period.
Increasing prevalence of health issues due to rising communicable diseases is
expected to increase the demand for hand sanitizers over the forecast period.
Hand hygiene forms
the most important element of personal care in order to prevent infectious
diseases, which is expected to act as a key factor for the global market.
According to findings, 77% of the population prefer using hand sanitizer, while
23% claim not to use the product. 77% of population in favor of sanitizer usage
comprise 37.5% of male users and 62.5% of female users. In addition, government
promotes the usage of hand care products in order to increase awareness as well
as avoid health issues among consumers.
For instance, the
WHO and FDA have taken initiatives in order to make people aware about hand
hygiene and the risks associated with not maintaining hygiene level of hands.
In addition, according to studies, hand sanitizer minimizes the risk of
gastrointestinal and respiratory infections among consumers who use the
product. Moreover, this product contains ingredients that help in reducing skin
dryness and irritation as compared to hand washing.
Furthermore,
according to studies, classroom application of hand sanitizers is expected to
reduce absenteeism of students due to illness by 20%. However, growth of the
market can be hampered by the usage of chemical ingredients associated with the
product causing allergies to some people. Rising influence of social media and
online advertisements has exposed people to the recent trends of personal care
and hygiene, which is accelerating the usage of hand sanitizers.
The gel product
segment dominated the market in 2018. The extent of easy product availability
and wider access to gel based products are some of the key factors driving the
segment. The product results in decreased microbial populations in different
ways from anywhere and everywhere. Moreover, inclusion of different flavors
affecting the fragrance has occupied a prominent place in the global market.
For instance, in 2017, Himalaya Wellness has launched new sanitizers, which are
available in fruit flavors including strawberry, green apple, litchi, and
orange.
Online channel of
distribution is anticipated to expand at the fastest CAGR of 13.1% from 2019 -
2025. Online retailers including Amazon, Walmart, Alibaba, and other such
service providers are adding to this category as a main focus area. This
channel is widely used in developed countries such as U.S., Germany, and U.K.
for purchasing consumer goods and unique personal care products on an
increasing rate.
It is poised to
emerge as a steady revenue generating source for these product categories over
the forecast period. Promising growth exhibited by e-commerce platforms in
emerging countries, including India and China, is compelling manufacturers to
reorient their retail strategies for these countries.
North America
dominated the global market, accounting for 32.2% of share in 2018. Wider
product availability, along with increased penetration of online as well as
offline channel, is a key factor driving the market in this region.
In
depth research report on Hand Sanitizer Market
Further key findings from the report suggest:
·
By product, foam is expected to expand at a CAGR of 13.0%
from 2019 to 2025
·
By distribution channel, the hypermarket and supermarket
segment was valued at USD 1.0 billion in 2018
·
Asia Pacific is the fastest growing region, expanding at a
CAGR of 13.3% from 2019 to 2025
·
Top players operating in the hand sanitizer market include
Reckitt Benckiser Group plc; Procter & Gamble; The Himalaya Drug Company;
GOJO Industries, Inc.; Henkel AG & Company; Unilever; Vi-Jon; and Chattem,
Inc.
Grand View Research
has segmented the global hand sanitizer market by product, distribution
channel, and region:
Hand Sanitizer Product Outlook (Revenue, USD Million, 2015 -
2025)
·
Gel
·
Foam
·
Liquid
·
Others
Hand Sanitizer Distribution Channel Outlook (Revenue, USD
Million, 2015 - 2025)
·
Hypermarket & Supermarket
·
Specialty Store
·
Drugs Store
·
Online
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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