LOS ANGELES, May 14, 2020 /PRNewswire/ -- The global hand sanitizer market is projected to grow at a CAGR of around 22% in terms of revenue during the forecast period 2020 to 2027.
Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled "Hand Sanitizer Market (By Type: Liquid, Gel, Foam, Other; By Sales Channel: E-commerce, Convenience Stores, Supermarket, Pharmaceutical Stores, Other; By End User: Household, Restaurants, Hospitals, Schools, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027".
Growing knowledge of hygiene and well-being caused by the rise in bacterial and viral diseases would drive the market growth of hand sanitizers during the forecast time span. Diverse campaigns have increased awareness of hand hygiene, increasing competition for goods related to hygiene. Government-owned sanitation steps to combat pandemic diseases would also fuel the production of man-made sanitizers on the market in near future.
Besides, increased efforts by different organizations through ads and promotions would bring substantial growth opportunities to the industry. The use of sanitizers decreases the risk of infections of bacteria, fungi or viruses that contribute to gastrointestinal illnesses. Increased spending on corporation's ads would help fuel business growth over the next decade. Nevertheless, hand hygiene side effects like eye irritation could to some extent limit the growth of the hand sanitizer market.
Increasing Coronavirus Disease (COVID-19) Cases Impacts on the Market
Regardless of its accelerated transmissibility, the global epidemic of coronavirus, which was declared pandemic in March 2020, has greatly changed consumer behaviour and driven consumers to take protective steps for personal hygiene care, in particular hand hygiene.
According to the World Health Organisation (WHO), the number of cases of the COVID-19 confirmed grew steadily from 9,826 on 31 January, to 462,684 on 26 March 2020. However, the growing number of deaths caused by the virus caused a troubling reaction from customers, with intensified emphasis on hand hygiene as a prevention measure of the infection.
The WHO and the Centre for Disease Control and Prevention and physicians from around the world are still promoting the use of hand sanitizers, claiming that the use of hand washing is one of the best measures against the infection. This aspect fuels business growth at present.
As this preventive approach to COVID-19 infections contributes to excess demand for hand sanitizer on the market, it provides more incentives, by extending development and launch of product technologies, for prospective market entrants as well as current players to meet increasingly growing requirements of hand sanitizers.
North America Govern the Global Market
North America leads the worldwide hand sanitizer industry owing to the high sanitation requirements of the U.S. population. Besides, Asia Pacific is expected to see the largest growth in health and well-being from 2020 to 2027. However, the rise of the Asia-Pacific Hand-sanitary industry is projected to raise due to living standards and disposable income.
According to the WHO, the European region, with countries such as Italy and Spain, comprises some of the economies most impacted by the CoVID-19; the Western Pacific region with countries such as China and South Korea; and the biggest impacts on the United States and Canada.
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About the Market
Hygiene of the hand is one of the key ways to eliminate oral diseases spread. Hand sanitizers also known as antiseptic palms, handrubs operate by hand disinfectants. Hand sanitizers are mainly used to wash your hands with soap and water in a traditional way. The successful grooming of the hands lowers the worldwide burden of infectious diseases, especially respiratory and gastrointestinal diseases primarily caused by poor manual grooming. Sanitizer efficiency depends on the amount and type of alcohol used. The drawbacks of the use of a hand sanitizer are that it takes less time than cleaning the hands.
Key Players & Strategies
Participants include major global players such Procter and Gamble, Reckitt Benckiser Group, The Himalaya Drug Company, Gojo Industry Inc., Vi-Jon Laboratories Inc., Unilever, Chattem Inc., Henkel Corporation, Best Sanitizers Inc., Others.
Most new players concentrate on competitive acquisitions with leaders in developed and advanced industries. To emerging market players, product portfolio expansion allows to diversification and offers access to secure cash flow and more incentives for growth. There are a growing number of competitors on the global market for safe labels. The move towards man-made sanitizers produced using natural ingredients leads to the extension by the big industries of the product lines.
2018, pen sanitizer spray was launched by Savlon, ITC's company. These developments in emerging technology and the latest introduction of products would lead to the company's diversification and growth.
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