Demand for Hand Sanitizers and Disinfectants Increasing as the Pandemic Concerns Grow
Financialnewsmedia.com News Commentary
Jul 16, 2020, 08:45 ET
PALM BEACH, Florida, July 16, 2020 /PRNewswire/ -- The global hand sanitizer market is projected to grow from USD 1.2 billion in 2019 to USD 2.14 billion by 2027, at a CAGR of 7.5% during the forecast period 2019-2027, according to a report from FiorMarkets. It said that the growing demand for wellness and health products with a rising rate of diseases has increased the demand for hand sanitizer market. Also, increasing awareness about hand hygiene is driving the need of sanitizers. Hand sanitizer plays a considerable role in maintaining hand hygiene. The rising advertisement on social media has exposed people to current trends of hygiene, healthy lifestyle and personal care, which increase the use of hand sanitizers. A unique benefit of using hand sanitizer is that it reduces the risk of respiratory infections and gastrointestinal infection. The demand for hand sanitizers is 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." Active companies in the markets this week include NxGen Brands Inc. (OTCPK: NXGB), The Clorox Company (NYSE: CLX), The Procter & Gamble Company (NYSE: PG), iBio, Inc. (NYSE: IBIO), Moderna, Inc. (NASDAQ: MRNA).
The article from FiorMarkets continued: "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.
NxGen Brands Inc. (OTCPK: NXGB) BREAKING NEWS: NxGen Brands (NXGB) Newly Added PPE And FDA Registered Cleaning and Disinfectant Product Lines to Its Portfolio - NxGen Brands announces the addition of a full product line of commercial, industrial, and residential cleaning supplies, disinfectants, and sanitizers.
NxGen Brands, Inc newly added line of products consist of proprietary and licensed formulations registered with the Environmental Protection Agency (EPA) and that follow Food and Drug Administration (FDA) guidelines in their composition and production for human interaction. These products have specific formulations designated for commercial, industrial, and residential markets. Some of the intended markets include bars, restaurants, schools, hotels, casinos, factories, various sectors of the travel industry, and the individual consumer given that NxGen Brands has developed the capability to provide options for purchase orders in a variety of sizes ranging from personal-use product quantity to 300 plus gallon totes.
Angel Burgos, CEO and President of NxGen Brands, commented, "We have been identifying diligently over the course of the past several months to offer the public a new addition to our already existing and popular product lines. This new addition started out with our interest in high end topicals for pain management and condition treatment, which eventually lead to hand sanitizer, and ultimately brought us around full circle to put us where we need to be, and that is at the front line of our customers' needs. That is why we are now offering, what we anticipate being, a well-received and highly demanded line of health-focused products, which are all manufactured and processed in the USA. Currently we are setting up operations on global sales platforms such as Amazon and Shopify which gives our prod exposure to millions of potential customers with both commercial and private needs. We anticipate that both the marketplace and our shareholders will be thrilled with our innovations and new additions."
Products included in the commercial, industrial, and residential cleaning supplies, disinfectants, and sanitizers can be seen at our newly updated Corporate Website: www.nxgenbrands.com and for more information or to make bulk purchases, please contact by phone (888) 315-6339 or email [email protected].
Other recent developments in the markets include:
The Clorox Company (NYSE: CLX) recently announced that on Monday, Aug. 3, it will host a live audio webcast of a discussion with the investment community about its fourth-quarter and fiscal year 2020 results. The webcast is scheduled to begin at 10:30 a.m. PT (1:30 p.m. ET). A replay of the webcast will be available on the company's website.
The Clorox Company is a leading multinational manufacturer and marketer of consumer and professional products with approximately 8,800 employees worldwide and fiscal year 2019 sales of $6.2 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol® cleaners; Liquid-Plumr® clog removers; Poett® home care products; Fresh Step® cat litter; Glad® bags and wraps; Kingsford® charcoal; Hidden Valley® dressings and sauces; Brita® water-filtration products; Burt's Bees® natural personal care products; RenewLife® digestive health products; and Rainbow Light®, Natural Vitality™ and NeoCell® dietary supplements. The company also markets industry-leading products and technologies for professional customers, including those sold under the CloroxPro™ and Clorox Healthcare® brand names. Nearly 80% of the company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.
The Procter & Gamble Company (NYSE: PG) recently announced a hygiene education and product donation initiative to help reach the estimated 48 million kids under the age of 121 that are reentering playgrounds, parks, recreational facilities and schools in the U.S. this month. Safeguard will donate $10 million to promote handwashing habits among kids and provide more underserved communities and families with free hygiene products through organizations including Save the Children, Americares, and Feeding America.
With the national surge in demand of hand hygiene products, Safeguard is introducing new hand soaps and sanitizers that wash away bacteria and germs into US retail stores. The brand expects to increase manufacturing capacity to 45,000 liters of hand sanitizer per week once fully operational.
iBio, Inc. (NYSE: IBIO) a biologics contract manufacturing organization and biotechnology company, recently announced that IBM Watson Health has selected iBio to receive 18 months of use of the IBM Clinical Development (ICD) solution, free-of-charge.
IBM Watson Health recently began offering its ICD solution to eligible trial sponsor organizations as part of its efforts to help support the medical community to address the COVID-19 pandemic. IBM Watson Health has received interest in the offering from numerous hospitals, sponsors, contract research organizations and academic institutions, and is currently enabling 15 COVID-19 disease trials.
Moderna, Inc. (NASDAQ: MRNA) a clinical stage biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients, recently announced the publication of an interim analysis of the open-label Phase 1 study of mRNA-1273, its vaccine candidate against COVID-19, in The New England Journal of Medicine. This interim analysis evaluated a two-dose vaccination schedule of mRNA-1273 given 28 days apart across three dose levels (25, 100, 250 µg) in 45 healthy adult participants ages 18-55 years, and reports results through Day 57. Results from participants in the initial dose cohorts who received both vaccinations and were evaluated at pre-specified timepoints reaffirm the positive interim data assessment announced on May 18th and show mRNA-1273 induced rapid and strong immune responses against SARS-CoV-2. The study was led by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH).
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