The global Hand Sanitizer industry size is projected to reach USD 1.96 billion by 2026, exhibiting a CAGR of 6.2% during the forecast period. Rising preference for alcohol-based sanitizers around the world will emerge as a strong growth driver for this market. According to the Centers for Disease Control and Prevention (CDC), these sanitizers having alcohol content between 60% and 69% are highly effective in killing all kinds of germs compared to alcohol-free sanitizers.
In addition to this, the Food and Drug Administration (FDA) has found that alcohol-based sanitizers can fight the spread of flu-like infections due to their superior germ-killing capacity. Moreover, there is a growing demand for natural ingredients-based hand sanitizers, which has spurred many companies to create products infused with Aloe Vera and tea. As a result, new avenues of expansion have been opened up for this market.
Worldwide COVID-19 Impact:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To Get the Short-Term and Long-Term Impact of COVID-19 on Hand Sanitizer Market,
Competitive Landscape
Key Players to Launch Products Targeted for COVID-19
The demand for hand sanitizers has experienced an astronomical rise in the past couple of months as a result of the COVID-19 outbreak. This has spurred Fast Moving Consumer Goods (FMCG) companies to develop hygiene products tailored to fight the spread of the pandemic and also comply with WHO guidelines.
List of Key Companies
SC Johnson & Son, Inc. (U.S.)
Best Sanitizer Inc. (U.S.)
Bacardi Limited (Bermuda)
Himalaya Global Holdings Ltd. (India)
Gojo Industry Inc. (U.S.)
Proctor & Gamble (U.S.)
CVS Health (U.S.)
Unilever Plc. (U.K.)
Henkel AG & Company (Germany)
Reckitt Benckiser (U.K.)
Opportunity
Rapid Spread of the Coronavirus Pandemic to Accelerate Market Growth
The hand sanitizer industry growth has received a major booster shot by the unprecedented rate of spread of COVID-19 worldwide, which has shifted the global focus towards basic hygiene and sanitation practices. Hand sanitizers are believed to play a central role in bolstering such practices because the COVID-19 infection is lethal and is known to primarily spreading through human-to-human contact. Since hands are generally the first point of contact between two or more people, hand hygiene has become a vital tool in fighting this infection.
The importance of these sanitizers in the current scenario is further augmented by the absence of effective treatment options and vaccines against the coronavirus. As a result, the World Health Organization (WHO) has been vociferously promoting the use of alcohol-based hand cleansers, especially for frontline healthcare workers. While frequent washing of hands using soap and water for 20 seconds is effective, they may not always be available and in such cases, these sanitizers can function as an efficient alternative.
Browse Summary of This Research Report with Detailed TOC: https://www.fortunebusinessinsights.com/hand-sanitizer-market-102710
The report states that the market value was at $1.22 billion in 2018. Besides this, the report provides the following:
Exhaustive analysis of the impact of COVID-19 outbreak on the market;
Careful evaluation of the all the possible market drivers, trends, and restraints;
Thorough study of the different market segments; and
Comprehensive examination of the regional dynamics and competitive milieu shaping the future of the market.
Regional Analysis
North America to Hold Commanding Position in the Market; Europe to Grow at a Considerable Rate
With a market size of USD 464.51 million in 2018, North America is well-positioned to dominate the hand sanitizer industry share in the coming years. Rising awareness among the people regarding personal hygiene, currently fueled by the COVID-19 outbreak, will drive the market in 2020. Moreover, the US now has the highest number of COVID-19 cases and deaths in the world, which has heightened the need for following standard personal hygiene practices.
In Europe, the coronavirus pandemic has ravaged the continent and has generated tremendous demand for hand sanitizers in the region. The market in Asia-Pacific is expected to showcase fastest growth on account of escalating demand for enhanced skin and other personal care products in India and China. Furthermore, programs initiated by local governments in India for fostering hygiene awareness at the school level will bode well for this market in the long-run.
Industry Developments:
April 2020: The Zydus-owned talc brand, Nycil, forayed into this sanitizer business by introducing its own hand sanitizer product to cater to the skyrocketing demand for hand cleansers during the coronavirus outbreak. The focus of the company will remain on germ protection for the entire family and the product will be an expansion of the company's Heinz portfolio.
March 2020: Himachal Pradesh-based CSIR-Institute of Himalayan Bioresource Technology (CSIR-IHBT) engineered a novel hand sanitizer, comprising of alcohol, active tea ingredients, and natural flavors. Most importantly, the product does not contain any synthetic chemicals and has been developed according to WHO guidelines.