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| Press Release

Global Hand Sanitizer Market Is Expected to Reach USD 2.14 Billion by 2027 : Fior Markets

Newark, NJ, March 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global hand sanitizer market is expected to grow from USD 1.2 billion in 2019 to USD 2.14 billion by 2027, at a CARG of 7.5% during the forecast period 2019-2027.

The hand sanitizer market is witnessing the exponential growth from the past few years. With the outbreak of global pandemic coronavirus in the year 2019, the sales of hand sanitizers swelled across every region in the world, which led to the shortage of hand sanitizers across the globe. The demand for hand sanitizers has increased by 1400 per cent from December 2019 to February 2020 period.  All the sanitizer from supermarkets and local pharmacies has been sold out. In addition to this, online e-commerce channels such as Amazon and Flipkart, the hand sanitizer are either out of stock or available at the inflated prices.  The surges in demand for hand sanitizer have led to the online retailers to hike the prices. The companies are increasing the hand sanitizer’s prices by almost 70%, due to high demand.

Hand sanitizer is alcohol-based or alcohol-free liquid, which is used for cleaning the hands to maintain the personal hygiene and to decrease the risk of infectious disease by killing germs present on the hands. It typically came in the liquid, gel or in foam form and recommended to use when soap and water is not available to wash the hands. Hand sanitizers are now being used on a daily basis in the schools, hospitals, supermarkets, and public places to disinfect the hands and to kill the germs. The alcohol-based hand sanitizers contain 605 to 95% alcohols to kill the bacteria and viruses present on the hand. 

The demand for hand sanitizers are increasing, with the growing coronavirus crisis rapidly across the globe. With the outbreak of the global pandemic, the need for hand sanitizers has quadrupled and an increase in the overall growth of 16x from December 2019 to March 2020.  In addition to this, to prevent the infectious diseases, many people prefer hand sanitizers, further contributing to the growth of the market. Furthermore, an increase in awareness about personal hygiene among the people, driving the growth of the market. However, high usage of hand sanitizer can kill the good bacteria of the human body, which leads to the occurrence of diseases, may hamper the growth of the market.

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Key players in the global hand sanitizer market are The Himalaya Drug Company, Reckitt Benckiser Group, best sanitizers, Procter & Gamble, Unilever, kutol, Henkel AG & Company, Vi-Jon, and GOJO industries among others. To gain the significant market share in the global hand sanitizer market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Many companies have increased their production capacity, due to non-availability and shortage of hand sanitizers across the globe.

  • In March 2020, Unilever Company announced that the company is boosting its production capacity of hand sanitizers to meet the customer demand amid to outbreak of Covid-19.
  • In March 2020, The Himalaya Drug Company announced that the company had enhanced the manufacturing capability of hand sanitizer by adding more product line and launching new production facilities, in the wake of coronavirus disease (COVID-19).

The foam segment is anticipated to grow at the highest CAGR of 9.5% over the forecast period
The product segment is classified into spray, gel, wipes and foam. The foam segment is anticipated to grow at the highest CAGR of 9.5% over the forecast period. This is mainly due to it effectively kills the germs from the hands and stays for a more extended period of time on the skin. With the recent outbreak of Covid-19, the demand for foam-based hand sanitizer is likely to increase over the forecast period.

Hospitals segment dominated the market and valued at USD 744.25 million in the year 2019
The end-use segment includes household purposes, schools, restaurants, hospitals, others. Hospitals accounted for the largest share in the hand sanitizer market globally and valued at USD 744.25 million in the year 2019. Increasing the usage of hand sanitizers with the increasing cases of coronavirus across the globe, driving the growth of hand sanitizers in the hospitals. In the hospitals, the doctors, nurses, and ward boy are now increasingly using hand sanitizers to prevent the infection from the patients.

Departmental store segment dominated the global hand sanitizer market and held the largest market share of 40.32% in the year 2019
The distribution channel segment includes online, pharmacy stores, departmental stores and others. Departmental store segment dominated the global hand sanitizer market and held the largest market share of 40.32% in the year 2019. The growth is mainly due to convenience and easy access to buy the product form the departmental stores. In addition to this, many people prefer to check the product before buying it, resulting in the growth of the market. Furthermore, departmental stores offer a verity of option to choose from, thus, fuelling the growth of hand sanitizers market.

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Regional Segment Analysis of the Hand Sanitizer Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global hand sanitizer market classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America dominated the global hand sanitizer market and valued at USD 420.25 million in the year 2019. The presence of key market player across the region is one of the primary contributors to the growth of the market. High awareness about hygiene among the people, also driving the growth of the market in the North America region.  However, with the Covid-19 outbreak, the demand for hand sanitizer has been upsurge, and the region is feeling the shortage of hand sanitizers in the countries such as the U.S. and Canada. Thus, the state governments are pushing the manufacturing companies to boost the production of hand sanitizers in the region. On the other hand, the Asia Pacific region is projected to grow at the highest CAGR of 10.25% over the forecast period. India is experiencing the almost ten-fold demand for hand sanitizers, with increasing cases of coronavirus in the country.  In India, the Government has also given the permission to the distilleries to produce the hand sanitizer in bulk to fill the demand-supply gap. Europe region is also experiencing a massive demand for hand sanitizers, owing to the worst effect of coronavirus in the countries such as Italy, UK, France, Germany, and Spain. Many brewers and distillers such as BrewDog, Leith Gin, Verdant Spirits and Pernod Ricard have ramped up the production of hand sanitizers, due to massive upticks in demand.

About the report: 
The global hand sanitizer market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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Customization of the Report:

The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.

About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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