Hand Sanitizer Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Gel, Form, Spray, Others), By Capacity (Less Than 100ml, More Than 100ml), By Distribution Channel (Online, Offline (Departmental Store, Pharmacy Store, Others)), And By Geography - Forecasts From 2022 To 2027
- Published : Aug 2022
- Report Code : KSI061613428
- Pages : 120
The global hand sanitizer market is expected to grow at a CAGR of 8.42% over the forecast period to reach a market size of US$6,009.070 million by 2027, increasing from US$3,412.630 million in 2020.
Sanitizers are typically used to reduce infectious agents on the hands, and as people become more conscious of their personal cleanliness, the market is predicted to expand significantly. It is projected that the market will expand during the projected period as a result of rising personal healthcare spending and rising interest in health and wellness. The growing increasing urbanisation and modernisation in developing nations like India and China, consumer demand for convenience goods, and the rising need for germ protection are further triggering the demand for hand sanitizer in the next five years. In addition, the expanding e-retailing business around the globe coupled with increasing investment also propels the market growth opportunities for hand sanitizer business. However, the market’s reliance on FMCG products such as detergents and personal soaps, as well as high raw material price volatility, is expected to stymie growth in the coming years.
Increasing healthcare spending
It is considered one of the prime drivers for the growth of the market during the forecast period. Data from the Organization for Economic Cooperation and Development show that China and India have raised their per-capita healthcare spending from 481.6 USD and 163.5 USD in 2012, respectively. to nearly 750 USD and 225 USD, respectively by the end of 2018. Additionally, favourable government actions are making it easier for new companies to enter the market, because of the rising living standards and disposable income, both public and private players are investing heavily in developing countries to meet the growing demand for hand sanitizer.
The Gel segment holds a significant share of the market
The hand sanitizer market is divided into four product categories: gel, foam, spray, and others. The Gel segment is expected to have a significant share of the market in 2019. The gel form of hand sanitizer is thin and watery in formulations, which is considered a convenient form for consumers. Due to the ease of product availability in gel form. In the upcoming years, the market for hand sanitizers is expected to expand significantly. Additionally, as a result of social media's growing influence and the online marketing it produces, there is a progressive shift in people's attitudes toward personal cleanliness and health, which is predicted to increase the development of the hand sanitizer market over the next five years.
Over the projection period, pharmacy stores will dominate the market.
Hand sanitizer companies are targeting detailed media strategies and plans with sound reasoning and linking back to pharma model learning such as pharmacy store marketing programmes and key opinion leader programs under which they target doctors and hospitals. Additionally, clients in developing nations like to scan product information before making a purchase, which also fuels the desire for hand sanitizer through the digital form of distribution channel. Also, with a growing number of supermarkets and hypermarkets across various regions, the market for offline distribution is witnessing significant growth. Furthermore, with increasing internet penetration coupled with the increasing investment by e-commerce companies such as Amazon, Alibaba, and Wal-Mart, the market for online distribution channels is anticipated to rise in the upcoming years at an exponential rate. Additionally, online merchants everywhere are including hand sanitizer as the main focus area for their customers.
A sizeable portion of the market is controlled by North America.
By geography, the hand sanitizer market is segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. Due to early sanitizer uptake and growing health consciousness among residents of the region, the hand sanitizer market in North America is projected to hold a sizable share in 2019 and is expected to expand quickly. Due to the largest pharmaceutical corporations in the world, it is projected that both countries' markets would experience significant expansion. The Asia- Pacific region is also expected to provide good growth opportunities on account of rising an increase in discretionary income and living standards.
COVID-19 Impact on the Hand Sanitizer Market
Sales of hand sanitizers increased noticeably when coronavirus infections spread over the world and caused a pandemic as a result of their increased use to stop the spread of illnesses. The hand sanitizer market was unable to reach its full potential because the producers were ill-prepared to handle the unexpected increase in demand. Healthcare professionals and organizations worldwide have suggested hand sanitizers, which has greatly benefited the growth of the hand sanitizer market in the anticipated year. Demand for goods like hand sanitiser wipes, pocket sanitizers, hand disinfectants, hand sanitizer gels, etc., increased. Still, production and distribution were constrained by widespread lockdown regulations, making it difficult for these goods to reach their full potential.COVID-19 has had a significant impact on the activities of several important players. The World Health Organization (WHO) has advised regular handwashing and self-prevention using hand sanitizers due to the unexpected increase in COVID-19 infections. To accommodate the exceptional demand for hand sanitizers to lower the risk of catching COVID-19, US hand sanitizer manufacturer Purell reported that hand sanitizer sales jumped by 568 percent to USD 1.5 billion Y-o-Y until late February 2020. The business put $400 million into manufacturing facilities to accommodate the demand. Due to their practicality and rising sanitization awareness, these initiatives have raised the market for hand sanitizers.
- April 2021- New liquid gel hand sanitizers and alcohol hand sanitizing wipes have been introduced by Wet Ones, a well-known company recognized for its antibacterial hand wipes.
- March 2021- The debut of Cleancut's first-ever foamy hand sanitizer was announced. The fragrance-free formulation was made with chemicals sourced from plants, an FDA-approved disinfectant.
- March 2021- The AVA Group's flagship brand, Medimix, has announced the release of a new line of hand sanitizer gel that is 100 per cent natural and contains natural components like aloe vera and Tulsi in addition to having antibacterial characteristics.
Hand Sanitizer Market Scope:
|Market Size Value in 2020||US$3,412.630 million|
|Market Size Value in 2027||US$6,009.070 million|
|Growth Rate||CAGR of 8.42% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Product, Capacity, Distribution Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Reckitt Benckiser Group, The Himalaya Drug Company, Unilever Plc., ITC Limited, Godrej, Dabur, Henkel AG & Company, 3M, Procter & Gamble|
|Customization Scope||Free report customization with purchase|
Key Market Segmentation:
- By Product
- By Capacity
- Less than 100ml
- More than 100ml
- By Distribution Channel
- Departmental Store
- Pharmacy Store
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Hand sanitizer Market Analysis, By Product
6. Hand sanitizer Market Analysis, By Capacity
6.2. Less than 100ml
6.3. More than 100ml
7. Hand sanitizer Market Analysis, By Distribution Channel
7.3.1. Departmental Store
7.3.2. Pharmacy Store
8. Hand sanitizer Market Analysis, By Geography
8.2. North America (US$ Million) (Units)
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.2. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Reckitt Benckiser Group
10.2. The Himalaya Drug Company
10.3. Unilever Plc.
10.4. ITC Limited
10.7. Henkel AG & Company
10.9. Procter & Gamble
The Himalaya Drug Company
Henkel AG & Company
Procter & Gamble
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