Hand sanitizer is a liquid, gel, and/or foam used to kill many microorganisms/bacteria/viruses on the hands. They are formulated to kill common germs that can threaten immune system if not adequately managed. It is widely used to kill infection-causing microorganisms and clean the hands. When applied to hands, can reduce the number of potentially disease-causing germs on the hands. Hand sanitizer kills pathogens present on the hands and diminishes transmission of germs also from one person to another. Moreover, the demand for hand sanitizers has increased worldwide as they help fight against the Novel Coronavirus (COVID-19).

Market Statistics:

The Global Hand Sanitizer Market is estimated to account for US$ 2,741.3 Mn in terms of value by the end of 2022.

Drivers:

Increasing awareness regarding sanitation and personal hygiene is expected to augment growth of the global hand sanitizer market over the forecast period. For instance, the U.S. Centers for Disease Control (CDC) recommends using hand sanitizer as a way to avoid getting sick. Due to the sudden rise in COVID-19 cases, the World Health Organization (WHO) recommended regular practice of self-prevention and hand washing using hand sanitizer. The United States based hand sanitizer producer, Purell invested about US$ 400 million into manufacturing units to meet the increase in demand. In April 2020, Vegamour launched its own hand sanitizer that exceeds the CDC standards for hand hygiene.

Opportunities:

Outbreak of COVID-19 (global pandemic) is expected to offer significant growth opportunities for players in the global hand sanitizer market. For instance, as coronavirus (COVID-19) cases increased worldwide, hand sanitizer demand increased. In April 2020, Zydus Group firm Zydus Wellness forayed into hand sanitizer category with the launch of its product under 'Nycil' brand in the country to meet the rising demand due to COVID-19 outbreak. Nycil sanitizer consists of neem and aloevera extracts that helps kill 99.9 per cent germs, Zydus Wellness said.

Restraints:

Reducing consumer preference for hand sanitizers and availability of unlabelled and unlicensed bottles of hand sanitizers are some major factors expected to hamper growth of the global hand sanitizer market. For instance, several companies are providing hand sanitizers at lower prices with unregulated or adulterated contents, especially in developing countries. As a result, several hand sanitizer-related accidents were reported worldwide. This has led to a lack of consumer trust in the effectiveness of hand sanitizers, which in turn had a severe impact on the demand for hand sanitizers, especially in developing countries.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/hand-sanitizer-market-5235

Global Hand Sanitizer Market- Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 led to an increase in the awareness of hand hygiene and cleaning practices among consumers. Moreover, during the pandemic, the adoption of hand sanitizers is gaining popularity due to the ease of cleaning hands without using water. WHO and CDC have also advised people to use hand sanitizer as a way to avoid getting sick. If soap and water are not available, CDC recommends consumers use an alcohol-based hand sanitizer that contains at least 60% alcohol. If used properly, alcohol-based hand sanitizer with at least 60% alcohol is an effective way to kill the COVID-19 virus. In short, the pandemic has had a positive impact on the growth of the hand sanitizer market.

Key Takeaways:

The global hand sanitizer market was valued at US$ 2,675.0 Mn in 2021 and is forecast to reach a value of US$ 3,188.4 Mn by 2028 at a CAGR of 2.5% between 2022 and 2028.

Among product type segment Gel/Liquid segment held dominant position in the global hand sanitizer market in 2021, accounting for 93.3% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

  1. Increase in demand for alcohol and foam-based hand sanitizers across the globe is expected to propel growth of the global hand sanitizer market. For instance, in March 2021, Cleancult, a non-toxic, zero-waste cleaning brand launched a foam-based hand sanitizer, made from fragrance-free formula and is FDA approved disinfectant and claims to kill 99.9% of germs.
  2. Introduction of innovative personal care & hygiene products is expected to drive the growth of the global hand sanitizer market. For instance, in April 2020, DetectaChem announced the launch of low-cost antiseptic hand rub, in response to increasing community safety during the COVID-19 pandemic, available to purchase on the DetectaChem website.

Competitive Landscape:

Major players operating in the global hand sanitizer market include

Vi-Jon Inc., Henkel AG & Co. KgaA, Edgewell Personal Care, Himalaya Global Holdings Ltd., GOJO Industries Inc., L Brands Inc., Unilever PLC, Reckitt Benckiser Group PLC, 3M Company, and Colgate-Palmolive Company, among others.

Recent Developments:

In May 2020, Unilever (Australia and New Zealand) initiated the local production of Lifebuoy sanitizers, in order to cope with the rising demand.

In May 2019, Himalaya expanded its presence in the Middle East, with the construction of a global research centre in the Dubai Science Park (United Arab Emirates). It is expected to be completed by 2021

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