The global hand sanitizer market size was valued at USD 2.85 billion in 2022 and is expected to be worth USD 3.01 billion in 2023. The market is projected to reach USD 3.80 billion by 2030, recording a CAGR of 3.8% during the forecast period.
Hand sanitizers refer to anti-infection skincare products that protect the hands from disease-causing bacteria and viruses. As more people are becoming aware of the benefits of maintaining a good personal hygiene routine, the demand for hand sanitizers is projected to grow across the world. This will positively impact the hand sanitizer market growth.
Fortune Business Insights™ displays this information in a report titled, "Hand Sanitizer Market, 2023-2030."
List of Key Players Profiled in the Hand Sanitizer Market Report:
- Reckitt Benckiser Group Plc (U.K.)
- Gojo Industry Inc. (U.S.)
- Henkel AG & Company (Germany)
- Himalaya Global Holdings Ltd. (India)
- Unilever Plc. (U.K.)
- Bacardi Limited (Bermuda)
- CVS Health (U.S.)
- Best Sanitizer Inc. (U.S.)
- Proctor & Gamble (U.S.)
- SC Johnson & Son, Inc. (U.S.)
Report Coverage:
The report analyzes the market in detail and highlights crucial areas such as prominent companies, product types, forms, leading end-users, and distribution channels. The report also delivers insights into the latest market trends and covers top industry developments. Besides the factors mentioned above, the report informs readers on the industry’s competitive landscape and the factors that have contributed to the market’s growth in recent years.
Drivers and Restraints:
Rising Government Support to Promote Hygiene Products will Augment Market Progress
Governments across the world are launching various initiatives and programs to promote the significance of personal hygiene and cleanliness, thereby generating robust demand for personal care items. Moreover, doctors and healthcare professionals are increasingly recommending various tips to maintain a good hygiene routine, which will further propel the market growth.
However, rising availability of alternative products may hinder the market’s development.
COVID-19 Impact:
Growing Significance of Hygiene Solutions Boosted Product Demand During COVID-19 Pandemic
Hand sanitizers are widely known to protect people from a wide range of disease-causing bacteria and viruses. COVID-19 was a fast-spreading infection that affected millions of people across the globe. This factor helped these products gain tremendous traction among customers as they were effective in mitigating the human-to-human transmission of this virus. These advantages drove the hand sanitizer market share during the pandemic period.
Segments:
Gel Segment to Dominate due to based Wide Demand for Gel-based Sanitizing Solutions
Based on product form, the market is segmented into foam, gel, and liquid. The gel segment is expected to hold a considerable market share as gel-based sanitizers are more effective for germ protection than its counterparts.
Alcohol-based Sanitizers to Gain Traction due to their Robust Disease-Fighting Capabilities
Based on type, the market is segmented into alcohol-based and alcohol-free. The alcohol-based segment is predicted to dominate the market as these products are more effective in fighting off disease-causing bacteria and germs and can prevent infections.
Customers to Prefer Supermarkets/Hypermarkets for their Wider Product Choice and Heavy Discounts
Based on distribution channel, the market is segmented into pharmacy stores, supermarkets/hypermarkets, online retail channels, and others such as department stores, drug stores, and grocery stores. The hypermarket & supermarket segment holds a dominant position in the global market as these stores house a wider range of hand sanitizing solutions from different brands and offer heavy discounts on bulk purchases.
Hand Sanitizing Products to Gain Popularity Across Hospitals Due to Rising Patient Admissions
Based on end-user, the market is segmented into schools, restaurants, hospitals, household purpose, and others such as shopping plazas, the military, the corporate sector, and hotels.
The hospital segment dominates the market as the average patient footfall across hospitals is rising every year, which may boost the demand for hand sanitizing solutions.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights:
North America to Lead Market Growth with Growing Presence of Reputed Product Manufacturers
North America is set to dominate the global market as the region has a vast presence of leading product manufacturers such as Nice Pak, Gojo Industries Inc., Vi Jon Inc., Edgewell Personal Care, and many others.
Europe is also anticipated to hold a sizeable market share due to the governments’ support to create a strong medical infrastructure.
Competitive Landscape:
Effective Distribution Channels and Product Innovations by Leading Companies to Accelerate Market Growth
Some of the key companies operating in the market are focusing on innovating their disinfectant solutions to attract more customers. They are also trying to create and expand a strong product distribution network to seal their market positions and increase their global presence.
Key Industry Development:
- November 2022: Reckitt Benckiser Group Plc. partnered with Essity AB to introduce a wide range of personal care products, such as antimicrobial foam soaps, multipurpose cleanser sprays, and hand sanitizing gels in Ireland, the U.K., Austria, and Germany.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/hand-sanitizer-market-102710
