Hand Sanitizer Market to 2027 - Global Analysis and Forecasts by Type ; Product form ; Application ; Distribution Channel
NEW YORK, April 15, 2020 /PRNewswire/ -- The global hand sanitizer market was valued at US$ 2,421.1 million in 2018 and is projected to reach US$ 39,223.1 million by 2027; it is expected to grow at a CAGR of 40.0% during 2019–2027. Hand sanitizer is a liquid that is used to decrease infectious agents present on the hands and palm. Different forms of hand sanitizers such as foam sanitizers, gel sanitizers, wipes, and spray sanitizers are available in the market. Hand sanitizers are extensively used by the hospitals, restaurants, educational institutions, household, shopping malls, movie theatres, and among others. The growing concerns toward public health and safety have raised the demand for hand sanitizer among these users. Thus, the expansion of aforementioned end-use industries is expected to provide new opportunities for the hand sanitizer market.
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Based on type, hand sanitizer market is categorized into alcoholic, quaternary ammonia, and triclosan.The alcoholic hand sanitizer segment led the market in 2018 and is expected to continue its dominance during the forecast period.
Alcohol-based hand sanitizer is a combination of isopropyl alcohol, ethanol (ethyl alcohol), or n-propanol.Products that contain 60–95% alcohol are most effective.
The alcohol-based hand sanitizer is on the list of the World Health Organization's Essential Medicines, as the safest and most effective medicines needed to protect health from germs.Alcoholic hand sanitizer works against a variety of microorganisms.
Some products of alcohol-based hand sanitizer contain compounds such as glycerol to prevent drying of the skin. Alcohol-based hand sanitizer is more convenient to use, compared to hand washing with soap and water. Antimicrobial properties of these sanitizers have driven the demand for products during the forecast period.
North America accounted for the major share of the hand sanitizer market in 2018.Hand sanitizer is a foam, gel, or liquid-based antiseptic solution which is utilized as a substitute to cleanser and water.
It helps in the prevention of contamination that is basically caused through hand transmission, which then prompts different sicknesses, such as nosocomial food-borne disease and other infectious diseases.Increasing awareness of hygiene and wellness among population is propelling the development of hand sanitizer market in North America.
Improving expectations for everyday comforts, rising health expenditure, developing interest with respect to hand cleanliness, and ideal help from associations such as FDA and WHO towards the requirement for sanitation, has been augmenting demand for the hand sanitizer in this region.Increasing demand for these products due to various communicable diseases such as corona virus is uplifting the hand sanitizer market across the world.
Additionally, the introduction of organic and natural ingredients by personal care companies in the manufacturing of hand sanitizers will gain customers' attraction, thus propelling the growth of the hand sanitizer market.
Henkel AG & Company, KGAA, Reckitt Benckiser Group plc, 3M, Ecolab, GOJO Industries, Inc., Unilever plc, The Himalaya Drug Company, Godrej Industries Limited, Procter & Gamble, and S.C. Johnson & Son are among the key players present in the global hand sanitizer market.
The size of global hand sanitizer market has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the hand sanitizer market.
Also, multiple primary interviews are conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in hand sanitizers.
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