Hand Sanitizer Market Growth & Trends
The global hand sanitizer market size is anticipated to reach USD 13.7 billion by 2027, expanding at a CAGR of 22.6%, according to a new report by Grand View Research, Inc. Growing emergence related to regular hand washing and sanitization among consumers owing to recent COVID-19 pandemic have set the tone for the market enhancement during the forecast period.
Major sanitizer manufactures have been ramping up their production capacity as well as improvising the supply chain strategies to cater the unprecedented spike in the sanitizers worldwide. According to a report by Adobe Analytics, the demand for hand sanitizer in U.S. spiked to 1,400% between December 2019 and January 2020.
Hand hygiene forms the most important element of personal care in order to prevent infectious diseases and is expected to act as a key driver for the growth of the market. According to findings, there is a preference for using hand sanitizer by 77.0% of the population covered in a survey, while 23.0% claimed to not to use the product. The 77.0% population in the favor of using hand sanitizer comprised of 37.5% male users and 62.5% of female users.
In addition, government further promotes the usage of hand care products in order to increase awareness as well as avoid health issues among consumers. For instance, WHO and FDA have taken initiatives in order to make people aware about hand hygiene and the risks associated with not maintaining the same. In addition, according to studies, hand sanitizer also minimizes the risk of gastrointestinal and respiratory infections among consumers. Moreover, this product also contains ingredients which help in reducing skin dryness and irritation as compared to hand washing.
Furthermore, according to studies, classroom application of hand sanitizers is expected to reduce absenteeism of students due to illness by 20.0%. However, growth of the market can be hampered by the usage of chemical ingredients associated with the product causing allergies to some people. Rising influence of social media and online advertisements have exposed people to the recent trends of personal care and hygiene, which is also accelerating the usage of sanitizers.
In terms of product, the gel based hand sanitizers segment is anticipated to dominate the market. Easy product availability and wider access to gel based hand sanitizers are driving the growth of the segment in the market over the last ten years. The product results in decreased microbial populations in different ways. Moreover, inclusion of different flavors affecting the fragrance has also supported the product segment to occupy a prominent place in the market. For instance, in 2017, Himalaya Wellness had launched new hand sanitizers, which are available in fruit flavors including strawberry, green apple, litchi, and orange.
Online distribution channel witnesses the fastest growth in the market at a CAGR of 23.2% from 2020 to 2027. Online retailers including Amazon, Walmart, Alibaba, and other such service providers are focusing on continuous availability of the product across the globe. Online distribution channel is widely used in developed countries such as U.S., Germany, and U.K., for purchasing consumer goods and unique personal care products. It is poised to emerge as a steady revenue generating source for these product categories over the forecast period.
North America dominated the global hand sanitizer market and accounted for 32.1% of revenue share in 2019. Wider product availability with increased penetration of online as well as offline distribution channels offering hand sanitizer is driving the market in the region.
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Hand Sanitizer Market Report
Hand Sanitizer Market Report Highlights
- The foam segment is expected to reach USD 3.1 billion by 2027, registering a CAGR of 23.1% from 2020 to 2027
- The hypermarket and supermarket segment was valued at USD 1.1 billion in 2019 and is expected to reach USD 5.3 billion by 2027
- In Asia Pacific, the hand sanitizer market is anticipated to witness a CAGR of 23.5% from 2020 to 2027
- Top players operating in the market are Reckitt Benckiser Group plc; Procter and Gamble; The Himalaya Drug Company; GOJO Industries, Inc.; Henkel AG and Company; Unilever; Vi-Jon; and Chattem, Inc.