PORTLAND, Ore., Sept. 6, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Long Lasting Hand Sanitizer Market by Nature (Alcohol-Based and Non-Alcohol Based), End User (Commercial and Residential), and Distribution Channel (Offline Channels and Online Channels): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global long lasting hand sanitizer industry generated $11.8 million in 2020, and is anticipated to generate $21.7 million by 2030, witnessing a CAGR of -3.4% from 2021 to 2030.
Prime determinants of growth
Surge in awareness regarding hygienic habits and innovations in long lasting hand sanitizers drive the growth of the global long lasting hand sanitizer market. However, availability of conventional hand sanitizers and strict regulations on sanitizer components hinder the market growth. On the other hand, rise in social media marketing and increase in popularity of online channels present new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic has positively impacted the long lasting hand sanitizer market, owing to increase in awareness regarding health and hygiene.
- Hand hygiene is given utmost importance to curtail the spread of the COVID-19, thereby resulting in increased demand for products such as hand gloves, soaps, and sanitizers.
The non-alcohol-based segment to maintain its leadership status throughout the forecast period
Based on type, the non-alcohol-based segment held the highest market share in 2020, accounting for more than 90% of the global long lasting hand sanitizer market, and is estimated to maintain its leadership status throughout the forecast period, as non-alcoholic sanitizers are water based which makes the them better suited for skin. Moreover, this segment is projected to manifest the highest CAGR of -3.3% from 2021 to 2030. The report includes analysis of the alcohol based segment.
The residential segment to maintain its lead position during the forecast period
Based on form, the residential segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global long lasting hand sanitizer market, and is projected to maintain its lead position during the forecast period. This is because long lasting hand sanitizers include small bottles of sanitizers that can be carried around and are kept at home. Moreover, this segment is expected to portray the largest CAGR of -3.1% from 2021 to 2030. The report includes an analysis of commercial segment.
North America to maintain its dominance by 2030
Based on region, North America, held the highest market share in terms of revenue 2020, accounting for nearly half of the global long lasting hand sanitizer market. This is due to rise in consumer awareness toward health & hygiene practices. However, the Asia-Pacific region is expected to witness the fastest CAGR of -2.4% during the forecast period, owing to huge investments and favorable government policies in India and China.
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Leading Market Players:-
- Cage Bio Inc.
- Esc Brands, LLC.
- Kea Biotech.
- Microbe Solutions, LLC
- Novalent, Paul Hartmann AG
- Resil Chemicals Pvt. Ltd.
- Scotmas Group, Touch Australia
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