New York, USA, April 26, 2021 (GLOBE NEWSWIRE) -- The latest research report on the global hand sanitizer market by Research Dive reflects the influence of COVID-19 pandemic on the present and forthcoming growth of the global market. This report is a professional and comprehensive research formulated by specialists by evaluating top driving factors, major regional market situations, opportunities & future scope, and trends & developments in the market during the COVID-19 catastrophe.
Highlights of the Report
In recent years, the global hand sanitizer market has witnessed remarkable growth. The outbreak of coronavirus pandemic has impacted the market bringing even more opportunities for growth. As per the report, the global hand sanitizer market is expected to register a revenue of $14,521.7 million by 2027, at a growth rate of 24.2% during the forthcoming years.
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Factor Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR garnered by the market during the pandemic. According to the report, the market has recorded a CAGR of 24.2% during recent months, while it was expected to be 22.7% in the pre-COVID-19 scenario. The reason behind this growth is the growing safety concern among people during the deteriorating condition of COVID-19 infections.
Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market size (2020) has recorded a revenue of $3,181.1 million, while it was estimated to reach $3,072.1 million in a previous analysis. This is because of the rising awareness about the protective applications of hand sanitizers. Applying hand sanitizers frequently may decrease the chances of getting infected with the virus.
Post Pandemic Insights
With the worsening situation of COVID-19 in countries including India, the demand of hand sanitizers is in all-time high. Whether in residence or workplace, sanitizing every little stuff before and after use has become a norm. This habit will prevail till much later post the pandemic.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/355
Key Players of the Market
The report has enlisted the most significant players of the global hand sanitizer market include -
- The Himalaya Drug Company
- Farouk Systems Inc.
- Reckitt Benckiser Group plc.
- Dr. Bronner's Magic Soaps
- Procter and Gamble
- Best Sanitizers, Inc.
- GOJO Industries, Inc.
- Vi-Jon
- Unilever
- Ningbo Jiangbei Ocean Star Factory & Trading Co., Ltd.
These players are developing many new products, enhancing their performance with newer business strategies such as merger & acquisition, product development, partnership etc. which will help the market stay ahead in the competition even post the pandemic.
For example, according to a June 2020 announcement, Procter & Gamble (P&G) launched a newly invented ‘safeguard sanitizer’. The company is also planning to raise its production capacity up to 45,000 liters of Safeguard hand sanitizer per week to cope with the increasing demand of hand sanitizer.
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