Hand Sanitizer Market To Reach USD 7.32 Billion By 2027 | Reports and Data

Changing lifestyle trends and growing awareness about hygiene is one of the significant factors influencing the Hand Sanitizer market growth.

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NEW YORK, April 15, 2020 (GLOBE NEWSWIRE) -- The global Hand Sanitizer market is expected to reach USD 7.32 Billion by 2027, according to a new report by Reports and Data. The growing demand for hand sanitizers is owing to its benefits in decreasing the transmission of gastrointestinal and respiratory infectious diseases, as well as it possesses constituents that prevent skin dryness and irritation as compared to hand-washing. Studies have found that the use of hand sanitizers in classrooms may lessen student absenteeism by around 20.0% owing to illness. Further, growing awareness about hand hygiene to check the spread infections contracted in hospitals is driving the market demand.

COVID-19 Impact
The outbreak of COVID-19 pandemic has resulted in a spiraling increase in the sales of hand sanitizers. The demand for the product has increased to such an extent that supermarkets and pharmaceutical stores have limited the number an individual can buy at a time. Alcohol-based hand sanitizers are an effective measure in combatting the spread of the disease as alcohol attacks and destroys the protein envelope that surrounds coronaviruses. CDC (Center for Disease Control & Prevention) suggests the usage of alcohol-based hand sanitizers with over 60.0% ethanol or 70.0% isopropanol as the desired form of hand hygiene in healthcare settings, on the basis of greater access to hand sanitizer. Besides, CDC recommends that healthcare service providers who apply alcohol-based hand sanitizers may update patients that they are doing this in accordance with CDC guidelines.

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The prices of hand sanitizers have witnessed a surge in price by retailers across several international markets, due to the swelling demand resulting from the COVID-19 pandemic. The virus having originated in China has spread to over 60 nations. The sales of hand sanitizer in the U.K. observed a year-on-year rise of over 250.0% in February. Moreover, witnessing a huge gap in the demand-supply gap, players in the market deploying their manufacturing proficiency and amenities to increase the production of the product to aid in mitigating the supply shortage.

In March 2020, Dow Europe and Ineous, leading polymer manufacturers, are using the already available raw materials and deploying it to produce sanitizers and thereby addressing the shortfall.

In March 2019, the Government of India declared hand sanitizers, among other products under essential commodities, and has fixed the prices of such items.

Further key findings from the report suggest

  • By type, alcohol-based hand sanitizers are estimated to grow at a faster rate in the forecast period, as the alcohol present such products is capable of killing most of the germs, including coronavirus.
  • By form, gel hand sanitizer contributed to the largest market share in 2019 and is likely to grow at a rate of 10.7% in the forecast period. Gel hand sanitizer easily spread on hands and need lesser time to eradicate germs in comparison to other types of sanitizers.
  • By application, household purposes is likely to witness the fastest growth rate of 11.8% in the forecast period. Changing lifestyle trends and growing awareness about hygiene are responsible for the increasing demand for this application.
  • North America contributed to the largest market share in 2019 and is expected to grow at a rate of 11.0% in the forecast period. Rising prevalence of nosocomial viral respiratory infections and the outbreak of COVID-19 recently are among the significant factors driving the growth of the market.
  • Key participants include Procter & Gamble, GOJO Industries Inc., Unilever Group, Reckitt Benckiser Group PLC, Henkel AG & Company, The Himalaya Drug Company, S.C. Johnson & Son Inc., 3M Company, Godrej Consumer Products Ltd., and Vi-Jon Inc., among others.
  • In March 2020, Procter & Gamble Co., a leading market player, observing a shortage of hand sanitizers, including other essential products to combat the COVID-19 virus, commenced producing hand sanitizer by the barrel at five locations comprising Lima, to cater to the growing need across the globe.

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For the purpose of this report, Reports and Data have segmented the global hand sanitizer market on the basis of type, form, application, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

  • Alcohol-Based Hand Sanitizer
  • Alcohol-Free Hand Sanitizer

Form Outlook (Revenue, USD Million; 2017-2027)

  • Gel Hand Sanitizer
  • Liquid Hand Sanitizer
  • Foam Hand Sanitizer
  • Others

Application Outlook (Revenue, USD Million; 2017-2027)

  • Hospitals & Clinics
  • Hotels & Restaurants
  • Household Purposes
  • Others

Regional Outlook (Revenue, USD Million; 2017-2027)

  • North America
    • U.S
  • Europe
    • U.K
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • MEA

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/hand-sanitizer-market

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