The hand sanitizer market is evidencing a phenomenal transition post the covid 19 spread. WHO and FDA launched various awareness programs on public health hygiene and infection control in public and private locations. The increasing incidence of disease outbreaks, particularly viral outbreaks, hospital-acquired infections, and a large workforce in unsanitary conditions in developing countries is expected to drive global demand for hand sanitizers. However, the shorter shelf life of hand sanitizers, lesser market availability of hand sanitizers in rural areas, high level of alcoholic and chemical content in the hand sanitizers causing allergies are key restraints that are expected to restrain the market growth for hand sanitizers.
Market Dynamics Evidenced Drastic Changes Post Covid 19
Hand sanitizer is a disinfectant solution that is used as a substitute for washing hands with soap and water. Personal health and hygiene are some of the most promising areas of growth in North America, Europe, and the Asia Pacific. The Covid 19 was a single factor that led to the sudden and exponential growth of the hand sanitizer market. The hand sanitizer market was evidencing a healthy growth rate prior to the pandemic due to awareness levels of H1N1, SARS, Avian Flu, Ebola, and other outbreaks.
Hand sanitizer which was largely used in North America that accounted for almost 45% of market revenues precovid, has become a household product in Asia Pacific post the pandemic. Though the market is expected to grow at a CAGR of 17% during the forecast period of 2021 to 2029, however, the market evidenced an exponential growth of about 600% YOY from 2019 to 2020. The same trend is expected till the end of 2021. The use of hand sanitizers has become unavoidable across houses, corporate, public places such as bus stops and ATMs, commercial and corporate entities, and so on. Sudden uptake of hand sanitizers due to a pandemic is the single reason for the exponential growth of the market. However, with vaccinations being launched across the globe, the market for hand sanitizers is expected to settle down to its normal growth. Nevertheless, the market is slightly expected to grow higher than the pre covid estimates for the year 2021 to 2029. The key reason is the increased awareness levels especially in the Asia Pacific, and also a fear that is instilled during the pandemic is expected to continue. Even if the vaccination is going to be started widely, the fear for any new or mutated viruses is expected to raise the growth rate. The report details such market trends across geographies and product ranges.
Household Segment Promises Potential & Gels Remain As the Most Used Form of Sanitizers
The hospital segment had the largest share of sales in the global market for hand sanitizer in 2019 and is expected to maintain its dominance in the forecast period 2021-2029. The increase in hospital-acquired infections and increased incidence and admission of patients with disease outbreaks is expected to significantly drive the growth of the hand sanitizer market. Alcohol-based disinfectants represent the largest market share in the world market for hand disinfectants due to their efficiency in dealing with a wide variety of viruses and bacteria. Stringent regulations and requirements to strictly adhered to quality processes and standards are the key reasons for the significance of hand sanitizers in hospitals. Household hand sanitizers are expected to increase significantly during the forecast period of 2021 to 2029 due to higher standards of living and increasing health awareness of consumers around the world and specifically in Asia Pacific.
The ease of cleaning hands without using water is combined with the availability of products in various convenient forms such as gel, foam, spray, liquid, and others raised the demand for hand sanitizer. The gel segment had the largest share of sales in the global market for hand sanitizers by product type in 2019 and is expected to maintain its dominance during the forecast period on 2021 to 2029.
Super and Hyper Markets Held the Largest Share
The global hand sanitizer market is in direct competition with other products in the market such as hand antiseptics, other disinfectants, and soaps. However, hand sanitizer is becoming popular than other products due to the recommendation of healthcare authorities as it is seen as an efficient way to deal with virus and bacteria outbreaks. Additionally, aggressive marketing and promotional campaigns are undertaken by the manufacturers created a positioning of hand sanitizers as a first-line solution against virus and bacteria outbreaks.
The supermarket and hypermarket segments represented the largest share of sales in the world market for hand sanitizers in comparison to other sales channels in 2019. Super and hypermarket alone contributed more than 30% of market revenues in 2019. This growth was mainly due to a shift in the trend towards modern retailing. In addition, this channel offers higher discounts on products in comparison to other distribution channels. The online sales segment is expected to experience the fastest growth with the growing popularity of online shopping, though by revenues the market is not very significant.
North America Leading, Asia Pacific Promising Potential
In terms of the geographic segment, the report segments the market at the country level for the major geographic region that includes North America, Europe, Asia Pacific, and Latin America, and Middle East and Africa. In 2019, North America contributed to the highest share of the hand sanitizer market. Europe was the second-largest market for hand sanitizers followed by Asia Pacific. However, the use of hand sanitizers in the APAC region is evidencing compelling growth due to the sudden uptake of hand sanitizers across the entire end-user segments. However, the report details the changes in market trends, growth rates, and market revenues post covid pandemic. The key market players are 3M, Procter & Gamble, CleanWell LLC, Reckitt Benckiser Group Plc, and others. However, the pandemic has boosted a quick spur of domestic companies that earned significant revenues and enabled the availability of hand sanitizers across the world even though the demand was sudden and exponential.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hand Sanitizer market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
