Global Hand Sanitizers Market Driven by COVID-19 Hygiene Measures
Hand Sanitizers Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company's Hand Sanitizers Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, December 11, 2023 /EINPresswire.com/ -- The global hand sanitizers market, segmented by type (Quaternary Ammonium Compounds Based, Alcohol Based, Tridosan Based, Other Types), product (Gel, Foam, Liquid, Other Products), distribution channel (Online Store, Pharmacy Store, Departmental Store, Other Distribution Channels), and end-user (Hospitals, Restaurants, Schools, Household Purpose, Other End Users), is set to grow from $3.66 billion in 2022 to $4.02 billion in 2023, with a compound annual growth rate (CAGR) of 9.9%. The market is projected to reach $6.16 billion by 2027, exhibiting a CAGR of 11.3%.
Market Growth Drivers: Impact of COVID-19 Pandemic
The outbreak of the coronavirus significantly propelled the growth of the hand sanitizers market. As hygiene became a crucial element in staying safe during the pandemic, there was a substantial increase in the demand for sanitizers worldwide. The Center for Disease Control (CDC) recommended the use of alcohol-based hand sanitizers as an essential form of hand hygiene in healthcare settings. Consequently, the market experienced a surge in demand post the COVID-19 outbreak, with increased adoption of sanitizers to protect against the virus. The U.S. Food and Drug Administration reported over 1,500 additional manufacturers registering to meet the heightened demand for hand sanitizers. The global response to the pandemic, coupled with growing hygiene concerns, is expected to sustain the demand for sanitizers.
Major Market Players: Key Industry Contributors
Key players driving the hand sanitizers market include Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Unilever, Vi-Jon Laboratories Inc., Chattem Inc., Best Sanitizers Inc., and Kutol Products Company. These industry leaders play pivotal roles in shaping market dynamics, influencing production, distribution, and maintaining significant global market presence.
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Industry Trends: Production Capacity Expansion and Company Diversification
A notable trend in the hand sanitizers market is the expansion of production capacities and companies diversifying to meet the surging demand. For instance, Bell International Laboratories, a cosmetics manufacturer, expanded its production of alcohol-based hand sanitizers to produce 22 million units in April 2020. Notably, companies unrelated to sanitizer production, such as alcoholic beverage manufacturers Radio Khaitan and Bacardi, shifted their focus to produce sanitizers amid the pandemic, contributing to meeting the heightened demand. This trend of increased production capacities and companies entering the sanitizer market is expected to be a significant driver for the industry's growth.
Regional Dynamics: Asia-Pacific Leads, North America Follows
Asia-Pacific emerged as the largest region in the hand sanitizers market in 2022, with North America following as the second-largest region. The regions covered in the hand sanitizers analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
For a detailed analysis of the global hand sanitizers market, refer to the complete report:
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Hand Sanitizers Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Hand Sanitizers Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on hand sanitizers market size, hand sanitizers market drivers and hand sanitizers market trends, hand sanitizers market major players, hand sanitizers market competitors' revenues, hand sanitizers market positioning, and market growth across geographies. The hand sanitizers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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