Hand Sanitizers Market Outlook
The global hand sanitizers market size was valued at USD 6.50 Billion in 2022 and is likely reach to USD 11.55 Billion by 2031, expanding at a CAGR of 6.6%. during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing awareness about personal hygiene and initiatives and campaigns of the government to promote personal hygiene practices.
Hand sanitizer, commonly known as hand rub, is an antibacterial chemical used to kill infectious disease-causing bacteria that are stuck on the hands. Hand sanitizer is an antibacterial solution that is used instead of soap and water.
It is used to prevent the spread of infection, which is primarily transmitted by hand and leads to a variety of disorders such as nosocomial food-borne illness and others. Consumer preference for health and wellbeing, as well as product innovation such as the use of fragrances in sanitizer formulations, is expected to drive the global hand sanitizer market.
Market Trends, Drivers, Restraints, and Opportunities:
- Consumers are now aware of the necessity of hand cleanliness in preventing the spread of infectious diseases, which is anticipated to augment the market growth.
- Many government agencies are exploring, developing, and adopting effective hand washing behavior change programs for COVID-19. As a result, demand for handwash is expected to rise during the forecast period.
- Addition of various substances for the production of anti-aging skin sanitizing lotions such as glycerin, propylene glycol, water, and others produce a key solution for skin aging problems and promotes the expansion of the hand sanitizer market.
- Demand for personal care accessories is increasing, due to expansion of infrastructure institutions such as schools and colleges, hospitals, hotels and restaurants, and residential facilities.
- Expansion of the market is anticipated to be hampered, due to increasing number of cases of skin cleansers with synthetic ingredients causing negative effects.
- Wide availability of different products such as soaps, shampoos, and oils resulted in a drop in sales income from various hand cleansing products such as sanitizers and washers, decreasing product demand.
Scope of Hand Sanitizers Market Report
The report on the global hand sanitizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Hand Sanitizers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|Key Players Covered in the Report
3M, P&GGOJO Industries, Unilever, Reckitt Benckiser, Vi-Jon
Global Hand Sanitizers Market Segment Insights:
Based on product forms, the market is divided into gel/liquid, foam, sanitizing wipes, and spray. The gel/liquid segment is expected to account for a key share of the market during the forecast, as gel/liquid form of sanitizer is more effective than other types of sanitizers.
In terms of compositions, the global hand sanitizers market is segregated into alcohol-free sanitizer and alcohol-based sanitizer. The alcohol-free sanitizer segment is expected to dominate the market during the forecast period, due to its capacity to prevent infections and kill most bacteria, fungi, and viruses.
Based on distribution channels, the global hand sanitizers market is segregated into hypermarkets & supermarkets, pharmaceutical and drug stores, convenience stores, and e-commerce.
Furthermore, gels are easy to spread on the hands during use, resulting in exposure of the palm and fingers to the cleansing action and helping in fast killing of germs.
The hypermarkets & supermarkets segment is expected to dominate the market during the forecast period, due to the availability of a large choice of handwashing products from numerous brands in a single store, as well as the discounts and deals offered by these stores on large orders.
On the basis of end-users, the market is segregated into healthcare, hospitality, residential, corporate, government & military, and education. The healthcare segment is expected to hold a significant share of the market during the forecast period, as hand sanitizers are becoming increasingly important in hospitals and clinics to maintain a hygienic environment.
Furthermore, increased health concerns among doctors and other hospital and clinic workers creates a steady demand for various hygiene products.
Hand Sanitizers Market Regional Outlook
Based on regions, the global functional ingredients market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to gain a large market share and account for 34% of the market by 2026, due to the influence of the COVID-19 pandemic.
Use of hand sanitizer is at an all-time peak in the US and Canada. The US is the leading market for hand sanitizers and personal hygiene products with increased retail expansion, which has increased the market revenue.
By Product Forms
- Sanitizing Wipes
- Alcohol-free Sanitizer
- Alcohol-based Sanitizer
By Distribution Channels
- Hypermarkets & Supermarkets
- Pharmaceutical and Drug Stores
- Convenience Stores
- Healthcare, Hospitality
- Residential, Corporate
- Government & Military
- Asia Pacific
- North America
- Europe, Latin America
- Middle East &Africa
By Key Players
- P&GGOJO Industries
- Reckitt Benckiser
The global hand sanitizer market is fragmented, due to the presence of local and global market players. Key players in the market include 3M, P&GGOJO Industries, Unilever, Reckitt Benckiser, and Vi-Jon.
Market concentration is high in developed countries such as the US and other countries in West Europe. Adoption rate among end-users around the globe has been remarkable. Several new vendors have entered the market as a result of rising demand.