PALM BEACH, Florida, May 14, 2020 /PRNewswire/ -- The hand sanitizer market is witnessing the exponential growth from the past few years, and recently the sales of hand sanitizers has swelled across every region in the world, which has led to a shortage across the globe. 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. According to a recent report from Fior Markets. The report said that: "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… 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. Active companies in the markets this week include: Pressure BioSciences, Inc. (OTCQB: PBIO), Reckitt Benckiser Group plc (OTCPK: RBGLY), Kimberly-Clark Corporation (NYSE: KMB), The Clorox Company (NYSE: CLX), The Procter & Gamble Company (NYSE: PG).
The report continued: "The demand for hand sanitizers are increasing… (and) 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."
Pressure BioSciences, Inc. (OTCQB: PBIO) BREAKING NEWS: Pressure BioSciences Announces Launch of FDA-Registered Hand Sanitizer as First Product Developed Through Pending Merger Partners - Pressure BioSciences today announced that following its previously announced pending merger (Click Here) and name change to Availa Bio, that the newly branded, publicly-traded company will be entering the hand sanitizer market through the founders of Cannaworx. The custom-designed, next generation, premium hand sanitizer will be the first product released under the new holding company Availa Bio.
The owners of privately held Cannaworx, Inc. have obtained FDA registration for the newly developed hand sanitizer, as well as an NDC (National Drug Code) number. The product is being manufactured in a fully compliant, GMP-certified facility. Initial packaging will be in 250/500 ml. bottles, with 125 ml., 1 liter, and 1gallon sizes available by Fall 2020. The product contains 75% alcohol in a proprietary blend of other reagents.
Hand sanitizers are liquid, gel, or foam anti-microbial products that have been shown to be effective in killing human disease-causing pathogens (e.g., viruses, bacteria, fungi) on the hands. Most hand sanitizers use alcohol as their active and most prominent ingredient. Hand sanitizers are believed to be faster, more efficient, and easier on the skin than repeated handwashing. They are often used when hand washing with soap and water is not convenient or possible. According to a 2019 report by Radiant Insights, the global hand sanitizer market is expected to reach $5.5 billion by 2024 (Click Here).
Availa Bio will be led by Jim Morrison (Click Here), the former President of L'Oreal, Sexy Hair, StarShop, and Graham Webb. In addition to his remarkable career at the helm of several prominent beauty and cosmeceutical companies, Mr. Morrison also has had a long and distinguished history of collaborating with celebrities to design and launch beauty and personal care lines, including Kylie Jenner, Brittany Spears, Christie Brinkley, and Rob Lowe. Mr. Morrison is universally regarded as one of the top brand strategists in the personal care space worldwide.
Mr. Morrison explained the new developments: "Over the past few months, growing shortages of hand sanitizers have been reported in stores across the USA. In addition, the opportunity to bring leading scientists in skin care and in formulations technology together into an FDA-registered premium grade dermatological hand sanitizer has been largely unanswered. In discussing these issues with the scientific and business teams of the three companies that are merging into Availa Bio, we saw the opportunity to fill a strong demand in the market with our proprietary dermatological formulation, to develop a high-quality registered hand sanitizer." Read this and more news for Pressure BioSciences at: https://www.financialnewsmedia.com/news-pbio/
Other recent developments in the markets include:
Reckitt Benckiser Group plc (OTCPK: RBGLY) U.K-based, home care products maker and manufacturer of Lysol amongst other popular household name brands, recently announced a record sales growth in the first quarter ended 31 march and predicted a stronger-than expected performance in 2020 as customers stocked up on Lysol disinfectants, Mucinex cough syrup and Dettol soap. Reckitt's net revenue rose 12.3 percent to 3.54 billion pounds in the three months ended March, beating analysts' average estimate of 3.29 billion pounds.
According to the company, an "exceptional demand" led to huge sales growth in the first quarter of 2020 as customers stocked up on cleaning products, painkillers, and hand sanitizer. The boom in demand has come as the company had been battling intense competition in the health and hygiene industry.
Kimberly-Clark Corporation (NYSE: KMB) Sales Jump - In the three months ended March 31, total net sales surged 8% to $5 billion and above the $4.89 billion expected by analysts. Foreign currency fluctuations reduced sales by 2%, the company said. Adjusted earnings per share amounted to $2.13, beating analysts' estimates of $1.98.
Sales volume jumped more than 8%, driven by increased shipments to meet demand. Kimberly-Clark said that the stock-up shopping was experienced across all business segments, in particular for tissue products, and across all major geographies. Net selling prices and product mix each improved 1%.
"A combination of increased consumer demand for our products and strong execution by our teams is reflected in our first quarter results," said Kimberly-Clark's Chairman and Chief Executive Officer Mike Hsu. "We increased investments in our business and our market positions remain broadly healthy. In addition, we generated very strong cash flow and further strengthened our balance sheet by executing two long-term debt transactions in the quarter.
The Clorox Company (NYSE: CLX) recently announced the following change to its executive team. Linda Rendle, 42, currently executive vice president – Cleaning, International, Strategy and Operations, will advance to the new role of President. In this role, Rendle will be responsible for all the company's businesses and corporate and business development, in addition to her current responsibility for corporate strategy and the five core global functions — Marketing, Sales, Product Supply, Research & Development and Information Technology. She will continue reporting to Chair and CEO Benno Dorer.
Commenting on Rendle's promotion, Dorer said: "It's a reflection of not only Linda's outstanding leadership, deep experience and sustained results, but also the board and executive management's commitment to long-term development and succession planning. I look forward to continuing to work closely with Linda."
The Procter & Gamble Company (NYSE: PG) recently said an innovation developed in the corporate R&D labs at P&G that converts lactic acid into bio-based acrylic acid could be a helpful step to shift everyday goods to be made from annually renewable crops. P&G has granted Cargill an exclusive license that allows Cargill to further develop and commercialize this technology, so that it can ultimately be incorporated in a range of applications from superabsorbent polymers in absorbent hygiene products to thickeners in household paints and beyond. The use of bio-based acrylic acid is estimated to reduce greenhouse gas (GHG) emissions and contribute to greener products for years to come – something that is important to a range of stakeholders, including consumers and business leaders.
P&G scientists were recently announced as winners of the American Chemical Society (ACS) 2020 Award for Affordable Green Chemistry for this groundbreaking proprietary technology. While the conversion technology is considered a breakthrough, it will take several more years of development before impacting consumer products in the marketplace.
"This new technology demonstrates that we can leverage the best materials science with new bio-based solutions to deliver sustainable innovation in consumer goods production. By investing in advancing bio-based solutions, we can and will help reduce the carbon footprint of various industries. This is consistent with P&G's stated Ambition 2030 sustainability goals to look to new, renewable sources of raw materials for conversion into everyday products," says Dr. Annie Weisbrod, Principal Scientist, Environmental Stewardship & Sustainability at Procter & Gamble.
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