Hand sanitizer market cap to reach $2.74 billion by 2027 at 9.10% CAGR

Market cap of hand sanitizers to reach $2.74 billion by 2027 at 9.10% CAGR – Market Research Futures Report (MRFR)

New York, USA, January 25, 2023 (GLOBE NEWSWIRE) —

Hand Sanitizers Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), ”


Hand sanitizer market

Training

in

Product type, end user, distribution channel and region – Forecast up to

2027

“, the market reached $2.74 billion in 2027 and will reach a CAGR of 9.10% from 2021 to 2027.

Market Scope:

Viruses and germs are not allowed in hotels and catering establishments. Strict laws and regulations governing food safety and hygiene apply to businesses. As a result, the commercial sector is encouraging employees, including cooks, waiters, barbers, members of the food industry and others, to use hand sanitizers frequently.

Luxury hotels and other motels are increasingly using hand sanitizers. The demand for hand sanitizers in the hospitality industry is anticipated to increase as businesses face more pressure to improve their reputation for hygienic services.

On the other hand, East Asia and South Asia provide significant room for expansion in the hand sanitizer industry. By granting licenses to the sugar industry, distilleries and new manufacturers to meet the growing demand for hand sanitizers, the government is stepping up its efforts to improve public awareness and increase the production capacity of alcohol-based hand sanitizers.

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Report scope:

report attribute

Details

Market size in 2027

$2.74 billion

CAGR

9.10%

base year

2019

forecast period

2020-2027

Historical date

2018

Forecast Units

Value (US$ billion)

report coverage

Revenue forecasting, competitive landscape, growth drivers and trends

Covered Segments

by product type, end user, distribution channel and region

Geographic areas covered

North America, Europe, Asia Pacific and Rest of the World (RoW)

Main market drivers

increase in cases of infection

easy accessibility and application of disinfectants

Competitive market analysis:

Some of the most eminent suppliers in the hand sanitizer industry are

  • Reckitt Benckiser Group Plc (UK)

  • Unilever Group (UK)

  • Smith & Nephew plc (UK)

  • L Marks (USA)

  • Procter & Gamble Co. (USA)

  • Kimberly-Clark Corporation (USA)

  • C. Johnson & Son Inc. (USA)

  • Edgewell Personal Care (USA)

  • GOJO Industries Inc. (USA)

  • PAUL HARTMANN AG (Germany)

The hand sanitizer market is quite fragmented, with several regional and local companies present. Leading manufacturers in this sector, which have a sizable consumer base, well-established brands and extensive distribution networks, compete fiercely with their rivals. To remain competitive, companies have put into practice numerous expansion tactics, such as collaborations and the introduction of new products.

Market covered by USP

market drivers

It is common knowledge that most infectious disease outbreaks are caused by poor or substandard personal and community hygiene practices. According to scientific research, when combined with other crucial steps, proper hand cleaning is the most effective way to prevent the transmission of infections. According to the World Health Organization, good hand cleaning can prevent up to 50% of infections that could be avoided during the administration of medical care.

Even though it’s so simple, many medical facilities still don’t follow good hand hygiene. According to reports, only about 9% of critically ill patients are cared for following the best standards of hand cleaning, mostly in low-income countries. High-income countries rarely achieve hand hygiene adherence levels of 70% or more, necessitating additional measures to improve procedures. Therefore, the government is trying hard to launch programs to inform people about the importance of personal hand cleaning.

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market restrictions

Countless factors contribute to the expansion of the market, but some restrictions can limit its potential. The shortage of manual workers and limited resources from the pandemic has had an impact on the growth of the hand sanitizer business. In addition, the market’s potential in the midst of the global crisis is being hampered by logistical problems.

COVID-19 Analysis

People around the world were more conscious about maintaining personal hygiene as the COVID-19 pandemic raged in 2020 and 2021. Doctors advised people to sterilize their hands frequently in addition to routine hand washing and hand disinfection. surface in order to avoid any form of transmission of the virus. recent coronavirus. As a result, healthcare product, pharmaceutical, and consumer goods producers have started to mass-produce various types of hand sanitizers.

Given that gel-based hand sanitizers can kill over 99% of germs, including bacteria and viruses, they have seen significant uptake. Governments around the world have made significant efforts to make hand sanitizer available to customers on a regular basis. To meet the growing demand for these products, the US Food & Drug Administration has continually evaluated requirements and conditions regarding alcohol-based hand sanitizers and issued interim guidance.

The COVID-19 pandemic is still unpredictable and spreading rapidly, so the duration of the crisis will have a significant impact on the demand for these antibacterial products around the world, especially in the hardest-hit nations. While sales have advanced rapidly in 2020, it is projected that as conditions improve, demand for post-COVID products will gradually decline.

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Segment overview

By product type

Gels, sprays, liquids and many other forms are available. The gels category will experience the most growth of all these product types during the evaluation period. Disinfectant gels are typical application methods that hydrate the epidermis without drying out the skin.

By Distribution Channel

Both non-store-based and store-based channels are included in this market segment. The store-based component is divided into supermarkets, hypermarkets, specialty stores, and a variety of other establishments. The market in 2018 was dominated by supermarkets and hypermarkets all of them.

by end users

The market category includes a wide range of industries, including commercial or institutions, hospitals and medical facilities, and homes. The evaluation period will have the biggest increase for the hospital and health centers.

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Regional Analysis

Due to its strict cleaning regulations, North America will have the greatest influence on hand sanitizer market share. The market in the Region will be driven by increased consumer awareness, the existence of well-known producers and simple accessibility.

Due to the growing hygiene awareness in the region as a result of the COVID-19 outbreak, which started in 2019 and has spread since then, Asia Pacific is the market with the fastest growth rate. As a result, companies are introducing new and distinct categories of personal care and hygiene products to the market, emphasizing consumer safety. For example, DetectaChem launched its own inexpensive hand sanitizer product in April 2020. This product can be purchased from the DetectaChem website. With the aim of improving the safety of the neighborhood during the COVID-19 pandemic, the launch was made.

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Hand sanitizer market cap to reach $2.74 billion by 2027 at 9.10% CAGR

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