Hand Sanitizers Market is anticipated to grow at a CAGR of 11.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Hand Sanitizers Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global hand sanitizers market accounted for over approximately US$ 3.1 billion in 2019. It is anticipated to grow at a CAGR of 11.9% from 2020 to 2030.
The growth of the hand sanitizer market can be attributed to several factors, such as rising awareness among people regarding personal hygiene, rising incidents of communicable diseases, convenience of use, and portable sizes, which make them convenient to carry. There is a high demand for hand sanitizers especially from education, and foodservice sectors. The healthcare industry, in particular, is striving to achieve quality patient care by avoiding the chances of cross-infection. The growing popularity of hand sanitizers, government initiatives, and improvements in the standard of living are expected to provide growth opportunities for the hand sanitizers market. Furthermore, growing healthcare expenditure and the increasing adoption of healthcare products are boosting market growth.
Factors, such as urbanization, life-threatening disease outbreaks, and the demand for eco-friendly sanitizers, are driving the global hand sanitizer market. Also, rising healthcare expenditure and the expanding healthcare sector in emerging economies are further adding to market growth. Moreover, hand sanitizers come in several varieties, including gel, foam, sprays, and others, making them convenient for use. Using hand sanitizers has become a fast-growing trend over washing hands with soap. With the growing severity of COVID 19 across the world, the demand for hand sanitizers is increasing. Guidelines on the utilization of hand sanitizers by organizations, including the WHO, regarding hand hygiene for the prevention of transmissible diseases, such as COVID-19, are projected to fuel market growth. Presently, The Himalaya Drug Company, Unilever, and others have enhanced the manufacturing capabilities of hand sanitizers to meet the high consumer demand amid to outbreak of COVID-19.
However, the presence of chemical ingredients in sanitizers adversely affects the skin. Triclosan-based sanitizers can lead to the development of superbugs, which may restrain growth of the hand sanitizer market to a certain extent.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Hand Sanitizers Market By Product (Foam, Gel, and Liquid), By Distribution Channel (Drug Store, Hypermarket & Supermarket, Specialty Store, and E-Commerce), By End-Use Industry (Education, Healthcare, and Food Service) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/hand-sanitizers-market/305
The Asia Pacific hand sanitizer market is estimated to grow at the highest CAGR during the forecast period. Emerging economies, rapid urbanization, availability of hygiene products and rising consumer awareness regarding hygiene are expected to propel the hand sanitizer market in the region. North America accounted for the largest market share during the forecast period. Factors, such as the presence of a large number of market players, increasing concerns regarding health & hygiene, and consumers’ ability to spend on hygiene products, will drive the hand sanitizer market in North America.
Some of the prominent players in the hand sanitizer market include Reckitt Benckiser, 3M, Procter & Gamble, GOJO Industries, Inc., Unilever, Best Sanitizers, Inc., Vi-Jon, Henkel Corporation, The Himalaya Drug Company, Kutol Products Company, and others.
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