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Global Hand Sanitizer Market it is anticipated to reach at market value of US$ 5.5 Bn by 2027
Bizizz Market Research has recently published a research report, “Hand Sanitizer Market by Form (Liquid, Gel, Foam, and Others) by Distribution Channel (Drug Store, Supermarket & Hypermarket, Specialty Store, and Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Hand Sanitizer Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 5.5 Bn by 2027, witnessing a CAGR of 10.2 % during the forecast period. Key drivers of the market are rising occurrences of infectious diseases, recent outbreak of Covid - 19, and initiatives taken by public and private entities to spread awareness regarding hygiene maintenance
Hand sanitizers offer several advantages over traditional handwash or soap bars. These products are convenient, portable, and consumes lesser time than handwash. Also, sanitizers help in minimizing the risk of respiratory and gastrointestinal infections among consumers. This is likely to surge the demand for these products across the globe. Moreover, promotional campaigns conducted by organization like FDA and WHO coupled with rising number of target diseases around the globe is anticipated to fuel the growth of global market.
The Hand Sanitizer Market Is Anticipated To Register A CAGR Of Over 10.2% During The Forecast Period.
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Adverse Effects of Using Hand Sanitizers Might Hamper The Market Growth
Apart from several benefits, hand sanitizers consist of some disadvantages as well. Some of the adverse effect of hand sanitizers include ocular irritation, cough, vomiting, oral irritation, and conjunctivitis. This might hamper the market growth at a minimal extent as a small ratio of consumers experienced these adverse effects. Also, rising prominence of homemade sanitizers in response to shortage of these products in medical stores and supermarkets is anticipated to limit the market growth.
North America Is Anticipated To Hold Prominent Share During the Forecast Period
North America registered 36.7 % market share in 2018. The region is experiencing rising occurrences of nosocomial viral respiratory infections, which is anticipated to accelerate demand and sales of sanitization products. Moreover, amidst corona pandemic FBI ordered huge amount of hand sanitizers which is likely to favor regional growth. Furthermore, Asia Pacific is projected to witness lucrative growth leading by China and India.
Global Hand Sanitizer market is highly fragment in nature. The market is experience significant competition among major industry players. Companies are focused on expanding their sales and distribution channels to cater to the demand from large consumer base.
Prominent players operating in the Global Hand Sanitizer Market are: Kutol, Reckitt Benckiser Group plc, Best Sanitizers, Inc., Procter & Gamble, Chattem Inc., The Himalaya Drug Company, Vi-Jon, GOJO Industries, Inc., Unilever, and Henkel AG & Company, among others.
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