Hand Sanitizer Market size is set to grow by USD 1.66 billion from 2024-2028, product innovation and portfolio extension leading to product premiumization boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global hand sanitizer market size is estimated to grow by USD 1.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.31%  during the forecast period. Product innovation and portfolio extension leading to product premiumization is driving market growth, with a trend towards increased demand for customized product. However, presence of counterfeit products  poses a challenge. Key market players include 3M Co., Arbro Pharmaceuticals Pvt. Ltd., Arrow Solutions, Dow Chemical Co., Earth Mama Angel Baby LLC, EO Products, Godrej Consumer Products Ltd., GOJO Industries Inc., ITC Ltd., Kiilto Family Group, Neogen Corp., Petra Co., Reckitt Benckiser Group Plc, S.C. Johnson and Son Inc., Skinvisible Pharmaceuticals Inc., The Clorox Co., The Procter and Gamble Co., TOUCHLAND LLC, Unilever PLC, and Vi Jon LLC.

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Market Driver

The customization trend in the hand sanitizer market is growing, particularly for commercial and institutional end-users. Companies are personalizing products, including hand sanitizers, with their logos and names. Leading vendors, like TOUCHLAND LLC, offer this service to enhance their offerings' appeal. This practice strengthens brand identity among visitors and contributes to the market's expansion during the forecast period. Customized hand sanitizers are increasingly popular in developed regions and emerging countries. 

The market for hand sanitizers has seen significant growth in recent times due to the increasing awareness about hygiene and the ongoing pandemic. The demand for this product has been high as people seek to protect themselves from germs and diseases. Companies are focusing on producing effective sanitizers with ingredients like alcohol, glycerin, and propylene glycol. The market is competitive with various brands offering different sizes and scents. Sustainability is also a trending factor, with some companies using eco-friendly packaging and biodegradable ingredients. The future looks bright for the hand sanitizer market as people continue to prioritize their health and well-being. 

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Market Challenges

• The hand sanitizer market faces challenges from counterfeit products, particularly in developing regions. These imitations, made with low-quality materials, harm consumers and dilute market shares for genuine vendors. E-commerce facilitates their distribution. Vendors struggle with lower prices and profit margins, affecting sales and brand reputation. Advertising costs add to the challenge. Counterfeiters save on production and transportation, making their products less expensive. Global vendors aim to penetrate developing markets, where counterfeits are prevalent, adding to the competition.
• The Hand Sanitizer market faces several challenges in the current scenario. The primary challenge is ensuring a consistent supply of raw materials such as ethanol and isopropyl alcohol due to their high demand and limited availability. Another challenge is maintaining the quality and effectiveness of the sanitizers, as the demand for them has led to an increase in counterfeit products. Additionally, there are regulatory challenges, as governments and health organizations impose new regulations and guidelines for the production and distribution of hand sanitizers. Furthermore, the market is highly competitive, with numerous players vying for market share. These challenges require innovative solutions and strategic planning to navigate the Hand Sanitizer market successfully.

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Segment Overview 

This hand sanitizer market report extensively covers market segmentation by 

1. Product 
• 1.1 Gel
• 1.2 Foam
• 1.3 Spray
• 1.4 Wipe
2. End-user 
• 2.1 Commercial
• 2.2 Residential
• 2.3 Institutional
3. Distribution Channel
• 3.1 Offline
• 3.2 Online
4. Geography 
• 4.1 North America
• 4.2 Europe
• 4.3 APAC
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Gel-  The gel hand sanitizer market has experienced significant growth due to its ease of use and availability from companies like GOJO Industries Inc. And ITC Ltd., including Ecolab. New product launches, such as Express Gel Hand Sanitizer, Advanced Gel Hand Sanitizer, and Moisturizing Gel Hand Sanitizer, have emerged to meet consumer demand. Fragrance trends and organic options are driving market growth. Key benefits include ease of use, controlled solution dispersion, and longer sustainability compared to other hand sanitizers.

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Research Analysis

The Hand Sanitizer Market encompasses a wide range of hygiene products designed to eliminate disease-causing germs, viruses, and bacteria. These products come in various forms, including foams, gels, liquids, sprays, foaming hand sanitizers, and spray hand sanitizers. Both alcohol-based and non-alcohol-based options are available in the market. Consumers can purchase these essential items from hypermarkets/supermarkets, pharmacy stores, e-commerce platforms, and other retail outlets. Key ingredients in hand sanitizers include Aloe Vera, tea tree oil, glycerin, propylene glycol, and ethyl alcohol. These components contribute to the effectiveness and skin-friendly properties of hand sanitizers, ensuring optimal hygiene for users.

Market Research Overview

The Hand Sanitizer Market encompasses the production, distribution, and consumption of hand sanitizers worldwide. These products are essential for maintaining personal hygiene and preventing the spread of diseases. The market is driven by factors such as increasing awareness of hand hygiene, the rise in healthcare expenditures, and the growing demand for convenient and portable hand sanitizers. The market also faces challenges like the availability of alternatives and the potential health risks associated with certain ingredients. The market is segmented based on product type, application, and region. The product type segment includes alcohol-based and alcohol-free sanitizers, while the application segment includes healthcare, education, food service, and others. The regional segment includes North America, Europe, Asia Pacific, and the rest of the world. The market is expected to grow significantly due to the ongoing COVID-19 pandemic and the increasing focus on preventive healthcare measures.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Gel
• Foam
• Spray
• Wipe
• End-user
• Commercial
• Residential
• Institutional
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio