Research Nester has released a report titled “Hand Sanitizer Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global hand sanitizer market in terms of market segmentation by product type, by product form, by distribution channel, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global hand sanitizer market is segmented by product form into liquid, gel, wipes, spray, foam and others, out of which, the gel segment is anticipated to hold the largest market share owing to high convenience of gel sanitizers as the solution is thin and has a watery formulation which can spread easily on the hand surface, thereby reducing the probability of the presence of microbial germs. Moreover, easy availability and accessibility to the raw materials for the manufacturing of gel type hand sanitizers is also anticipated to promote towards the growth of the segment in the global hand sanitizers market.
The global hand sanitizer market is anticipated to achieve a significant CAGR during the forecast period, i.e. 2020-2028. Growing concern for the outbreak of communicable diseases around the world, such as Coronavirus (COVID-19), Ebola virus, Severe Acute Respiratory Syndrome (SARS), and others, and the need to avoid contamination to the diseases by taking advanced precautionary measures, along with the rising demand for health and wellness products around the globe are some of the factors anticipated to contribute significantly towards the growth of the global hand sanitizer market. In the statistical report GWI Global Wellness Economy Monitor of the Global Wellness Institute, in the year 2018, around USD 575 bn or 12.7% share was contributed by the preventive and personalized medicine and public health sector to the global wellness economy.
Regionally, the global hand sanitizer market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market share owing to the presence of several key players in the region and the willingness of consumers of the region to spend on personal care and hygiene products, along with the increasing concern for health and maintenance of hygiene amongst the population. Moreover, Asia Pacific is anticipated to gain significant market share owing to the growing awareness for hygiene amongst consumers and the concern for the outbreak of Coronavirus disease in Wuhan district of China, which has spread all around the world.
Rising Awareness Amongst Individuals for Precautionary Measures and Health Safety Against Epidemic Diseases
Sudden outbreak of diseases around the world often claims numerous lives. Several such disease outbreaks observed around the world throughout the years have raised the need for governmental organizations to provide awareness for precautionary measures that help them restrict the spread of the communicable diseases and therefore provide health safety. Increasing awareness for such precautionary measures around the globe along with the growing need for chemical disinfectants is thereby anticipated to drive the growth of the global hand sanitizer market. Additionally, increasing advancements and innovations observed in the product over the ages, for instance, development of squeeze pet bottles for consumers, deployment of smart soap dispensers and automatic hand sanitizer dispensers in hospitals and corporates, are also anticipated to contribute overall towards the growth of the global hand sanitizer market.
However, concerns regarding the presence of several chemicals in hand sanitizers which might affect individuals with numerous skin problems is anticipated to limit the growth of the global hand sanitizer market.
This report also provides the existing competitive scenario of some of the key players of the global hand sanitizer market, which includes company profiling of Best Sanitizers, Inc., Henkel Corporation (ETR: HEN), The Himalaya Drug Company, P&G (NYSE: PG), McKesson Medical-Surgical Inc. (NYSE: MCK), GOJO Industries, Inc., Reckitt Benckiser Group plc (LON: RB), Unilever, S. C. Johnson & Son, Inc. and ITC Limited (NSE: ITC). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hand sanitizer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.