Hand Sanitizer Market Size to Reach $5.5 Billion by 2024 Owing to Rising Consumer Awareness Towards Hand Hygiene & Well-being: Radiant Insights, Inc.
Hand sanitizer market is highly driven by factors such as rising awareness among consumers pertaining to hand hygiene and increase in innovations.
SAN FRANCISCO, April 3, 2019 /PRNewswire/ -- The global hand sanitizer market is expected to gain a significant CAGR in the forecast period. With the rise in demand and increasing urbanization, hand sanitizers are used as a perfect alternative for use in place of a typical soap. With features such as effective killing of germs and microorganisms, hand sanitizers are in great demand from all the sectors with need as a primary objective. From the commercial standpoint, alcohol-based sanitizers have a great market share. Hand sanitizer market is highly driven by factors such as rising awareness among consumers pertaining to hand hygiene and increase in innovations. Change in lifestyle along with consumer inclination towards westernization is highly effective for market development in the near future. Promotional campaigns and media coverage is likely to contribute to the market growth in the near future. However, risk of skin infections and use of extreme ingredients in cheap substitutes might curb the market growth in the forecast period.
Product segmentation for hand sanitizer market includes gel hand sanitizer, foam hand sanitizer, liquid hand sanitizer, sanitizing hand wipes and spray hand sanitizer. By sales channel, the hand sanitizer market includes drug stores, hypermarket, online sales, grocery stores and retailers. Hypermarket, drug stores and grocery stores account for a significant market share due to ease of availability of high demand by local consumers. By end-user, the hand sanitizer market includes schools, hospitals, restaurants, corporate ventures and commercial ventures. Restaurants and commercial ventures have paved the way for market growth in the forecast period due to extreme use of hand sanitizer for hand hygiene.
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Geographical segmentation for hand sanitizer market include North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. North America accounts for a significant market share in the global scenario owing to rising awareness and hand hygiene. The hand sanitizer market witness a remarkable CAGR in the forecast period owing to rise in innovations and extended capacities in these regions. European market is anticipated to follow the trend and register a higher CAGR during the forecast period. Middle East and African market is expected to gain a higher traction during the forecast period due to rise in consumer awareness and new formulations. The key players in the hand sanitizer market include Gojo Industry Inc, Best Sanitizers Inc, The Himalaya Drug Company, Unilever, Linkwell Corporation, Vi-Jon Laboratories Inc, Henkel Corporation, Reckitt Benckiser Group Plc, The Procter and Gamble Company.
Worldwide markets are poised to achieve continuing growth as Hand Sanitizers proves its value by lowering the risk of infection. Increasing ease of use and a choice of delivery modes are key benefits. Hand sanitizer is an antiseptic liquid, foam, or gel used to inhibit the spread of infectious microorganisms and other harmful bacteria on the hands. Alcohol-based hand sanitizers are generally more effective in eliminating microorganisms. The hand sanitizer is used to address microorganisms immune to soap and water. Alcohol-free hand sanitizers constitute another type of sanitizer. These do not strip away oils from the skin and retain moisture.
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The use of hand sanitizers has gained popularity. Washing hands repeatedly, especially when on the move, is tedious and time consuming. Soap and water are not available everywhere, they dry the hands. Hand sanitizers play a vital role in facilitating hand hygiene. Some firms having greater market power in specific markets, such as in hospitals and healthcare facilities. 3M has seen a significant increase in demand helping in the sale of 3M's Avagard hand sanitizers.
The global market for Hand Sanitizer at $2.4 billion in 2017 is anticipated to reach $5.5 billion in 2024. The markets for hand sanitizers are expected to have strong growth going forward. The market is nowhere near saturation.
- Market Leaders
- Reckitt Benckiser / Dettol / Lysol
- Ecolab
- 3M
- Unilever Lifebouy
- Vi-Jon
- Certus Medical / Clarus
- GOJO
- SC Johnson / Babyganics
- Clorox
- ITC / Savlon
- BloomsBerry Innovations
- Winova
- Key Topics
- Hand Sanitizer Antiseptic
- Hand Sanitizer Liquid
- Hand Sanitizer Foam
- Hand Sanitizer Gel
- Lowering the risk of infection
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