The communal transmission of coronavirus has created a considerable impact on the global hand sanitizer market. Moreover, gel-based hand sanitizer will have significant market share in the forecast period. The online distribution channel shall witness newer heights. The Asia-pacific hand sanitizer market will create huge opportunities for investors. The notable players operating in the hand sanitizer industry are following effective strategies, to acquire a global position in the marketplace.
The outbreak of the COVID-19 pandemic has positively affected the growth of the hand sanitizer market, during the analysis period. The sustainability of the global hand sanitizer market is mainly attributed to the growing concern of personal safety into consumers. In addition, the growing prevalence of viral disease worldwide is also offering massive demand for the hand sanitizer product, in the analysis period. Though the markets across the world have implemented industrial shutdown in order to curb the harmful impact of the transmission, the global hand sanitizer market has shown positive growth. The organizations operating in hand sanitizer manufacturing are adopting several strategies such as strategic alliances and product & technology innovation. For example, in June 2020, Procter & Gamble (P&G), has announced to release of newly innovated ‘safeguard sanitizer’. Moreover, the company is planning to increase its manufacturing capacity up to 45,000 liters of Safeguard hand sanitizer per week. Such implementation of strategies by leading companies is expected to offer significant opportunities for the global hand sanitizer market, during the review period.
Our reports include the following:
• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact
As per the research conducted by Research Dive, the global hand sanitizer market is set to register a revenue of $14,521.7 million by 2027, at a healthy CAGR of 24.2% during the analysis period. The segmentation of the market has been done based on the product, distribution channel, and region. The report provides valuable information on future opportunities, driving and restraining factors, segments, and key manufacturers of the market.
Factors Affecting the Market Growth
As per our analyst estimates, the significantly increasing personal safety and hygiene concerns among the consumer during the pandemic is projected to fuel the global hand sanitizer market growth. On the other hand, the health hazards associated with chemical ingredients are expected to obstruct the growth of the global hand sanitizer market.
The Gel-Based Hand Sanitizer to be the Most Lucrative
On the basis of product, the global market for hand sanitizer is mainly categorized into gel, foam, liquid, and other. The market size for the gel-based hand sanitizer will be $8,161.2 million in 2027 and is expected to rise at 24.6% CAGR; owing to the easy product availability and cost-effectiveness.
The Online Distribution channel will have Significant Market growth, During the forecast period
Based on the distribution channel, the global hand sanitizer market is majorly classified into hypermarket and supermarket, specialty store, online, and drug store. The market size for the online segment shall be $3,383.5 million in 2027 and is expected to grow at 25.1% CAGR. The growing influence of digital media and marketing, rising internet penetration in multiple developing nations such as India, Mexico, and Brazil is projected to boost the segment growth, during the analysis timeframe.
Geographical Analysis and Major Market Players
Based on the region, the global hand sanitizer market is classified into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific hand sanitizer market valued at $3,949.9 million in 2027 and is expected to rise at 24.9% CAGR during the analysis period. The growth of the Asia-Pacific hand sanitizer market is majorly driven by the rising prevalence of viral infectious diseases, the growing emphasis on product innovations, and increased personal safety concerns particularly in China, India, Australia, and South Korea countries.
The key manufacturers of the global hand sanitizer market include Reckitt Benckiser Group plc., The Himalaya Drug Company., Procter and Gamble, Dr. Bronner’s Magic Soaps, GOJO Industries, Inc., Best Sanitizers, Inc., Ningbo Jiangbei Ocean Star Factory & Trading Co., Ltd, Vi-Jon, Unilever., and Farouk Systems Inc.
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