**Embracing Lucrative Opportunities: The Booming Hand Sanitizer Market**
In a recent groundbreaking report, titled “Hand Sanitizer Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The global hand sanitizer market was valued at USD 3,551.2 Million in 2019 and is projected to reach USD 8,237.6 Million by the year 2026 with CAGR 6%. The market volume for hand sanitizer was 868.7 MMT in 2019 and is expected to reach 1,356.6 MMT by 2022 and 1,815.8 MMT in 2026.
Hand sanitizer comes in gel, spray, or liquid form for killing the vast majority of bacteria/microorganisms on the skin surface. The market is expected to be driven by the increasing awareness among individuals due to the COVID-19 pandemic and the rising number of new entrants in the market.
Disrupted distribution channels coupled with a surge in prices of sanitizers during the pandemic negatively impacted the market growth. Health issues caused due to excessive use of sanitizers are also estimated to fuel the market growth. During the COVID-19 pandemic, the demand for hand sanitizers skyrocketed. Many retailers started charging more than usual for hand sanitizers. This restrained the market growth.
Growth Influencers:
Increasing awareness among individuals due to the spread of COVID 19
The COVID-19 pandemic made people aware of the importance of are also maintaining hand hygiene and that this hygiene can be maintained using hand sanitizers. Governments of various nations were creating awareness regarding the use of soap and water to clean hands regularly during the pandemic. Hand sanitizers proved to be a perfect alternative when soap and water are not readily available. This boosted the demand for hand sanitizers, hence driving the market growth.
An increasing number of new entrants in the market
With the lucrative opportunities provided by the market, many new companies are expected to enter the market. Apart from start-ups, well-established companies are also venturing into the hand sanitizers market. These include LVMH, a perfume manufacturer; and Parle, a biscuits manufacturer; among others. Other firms include paints to apparel, brewers, lifestyle majors, fragrance makers, and distillers, among others. All these new entrants in the market are anticipated to fuel the market growth.
Segments Overview:
The global hand sanitizer market is segmented into form, SKU, distribution channel, end-user, and type.
By Form,
? Gel Sanitizers
? Liquid Sanitizers
? Spray (Aerosol) Sanitizers
The gel sanitizers segment accounts for the largest share of around 45% in the market owing to the high availability of gel-based sanitizers in the market. The spray sanitizers segment is expected to grow at a CAGR of 5.4% owing to the increasing demand for these sanitizers.
By SKU,
? <50 ml
? 51-100 ml
? 101-200 ml
? >501 ml
The 101-200 ml segment held the largest market share of about 34% owing to their increasing demand. The 51-100 ml segment is estimated to grow at the fastest rate of 6.7%, during the forecast period.
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By Distribution Channel,
? Retail Stores
? Online Stores
? Pharms/Medical Stores
The pharms/medical stores segment is expected to account for the largest market share, as hand sanitizers are considered to be medical products and are easily available in pharmacies. The online stores? segment is anticipated to grow at the fastest rate owing to rising increasing penetration.
By End User,
? Residents
? Hospitals & Clinics
? Enterprises
? Manufacturing
? Facility Management Services
? Recreation & Entertainment Centers
? Hospitality
? Retail (Commercial Facilities)
? Others (Government/utilities, Educational institutes)
The hospitals and clinics segment is estimated to hold the largest market share of around 30% owing to increasing demand for hand sanitizers in hospitals and clinics, especially during the pandemic. The hospitality segment is anticipated to grow at the fastest rate during the forecast period.
By Type,
? Alcohol Based
? Non-Alcohol Based
The non-alcohol-based segment is expected to hold the largest market share owing to its high demand globally. The alcohol-based sanitizer segment is expected to become the most prominent segment, surpassing non-alcohol-based sanitizers by 2023.
Regional Overview
On a regional basis, the global hand sanitizer market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The Asia Pacific region accounted for the largest market share of more than 50% owing to the increasing awareness regarding hygiene among the consumers. Furthermore, the rising dominance of online platforms in the region is also expected to boost market growth.
The European region is expected to hold the second-largest market share owing to the increasing concern for health and hygiene in the region. Also, during the pandemic, some of the European countries, such as the UK and France were severely affected by COVID-19, which boosted the market growth.
Competitive Landscape
Key players operating in the global hand sanitizer market include GOJO Industries, Inc., Reckitt Benckiser Group plc, Proctor and Gamble, The Himalaya Drug Company, Henkel AG and Company, Unilever, Vi-Jon Laboratories, Inc., Sanofi-Aventis, Best Sanitizers, Inc., Kutol Products Company, Shanghai Likang Disinfectant Hi-Tech Co., Ltd., Guangzhou Beaver Cosmetic Co., Ltd., Montgomery Manufacturing, Seatex Ltd., Clorox Company, Xi?an Youpai Biotechnology Co., Ltd., and HARTMANN Group, among others.
The approximate market share of the top 12 to 15 major players is near about 70 to 75%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in March 2021, Reckitt Benckiser?s Dettol partnered with CleanedUp for supplying simple and easy-to-install sanitizing solutions. This partnership is aimed at offering free hand sanitizers and other hygiene products to small businesses.
The global Hand sanitizer market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Hand sanitizer market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Hand sanitizer market report answers questions such as:
? What is the market size and forecast of the Global Hand sanitizer Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Hand sanitizer Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Hand sanitizer Market?
? What is the competitive strategic window for opportunities in the Global Hand sanitizer Market?
? What are the technology trends and regulatory frameworks in the Global Hand sanitizer Market?
? What is the market share of the leading players in the Global Hand sanitizer Market?
? What modes and strategic moves are considered favorable for entering the Global Hand sanitizer Market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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