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The hand sanitizer market has gained major momentum in terms of sales ever since the COVID-19 outbreak began. A study conducted by Harvard University claims that health care workers carry around 5 million bacteria on each hand. Most commercial sanitizers are 99.9% effective at killing germs. Growing awareness among consumers regarding the usage of hand sanitizers for maintaining personal hygiene will augment product sales.New initiatives taken by governments for spreading awareness regarding health safety and preventive measures may enhance the industry outlook. As per a report published by Global Market Insights, the hand sanitizer market size is expected to exceed USD 6.4 billion by 2027.
Few of the major players operating in the hand sanitizer market include DEB Group Ltd (S.C. Johnson & Son, Inc.), L Brands, The Himalaya Drug Company (Himalaya Global Holdings Ltd), Certus Medical (ABC Compounding Co., Inc.), 3M, Ecolab, Best Sanitizers, Inc., Godrej Consumer Products Limited, GOJO Industries Inc., PZ Cussons, ITC Limited, Kutol, PAUL HARTMANN AG, Vi-Jon (Berkshire Partners LLC.), Reckitt Benckiser Group plc, and Unilever. Development of new and efficient sanitizers along with initiation of mergers and acquisitions for staying competitive in the market are some strategies used by market contenders.
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Influence of COVID-19 pandemic
The Covid-19 outbreak had severely impacted countries worldwide. To counter the spread of this disease, governments and public health agencies have advised people to take preventive measures which include emphasizing on personal hygiene practices and use of hand sanitizers frequently to reduce the chance of contracting the infection. Rising awareness among consumers has resulted in burgeoning demand for hand sanitizers, influencing market outlook.
Preference for foam-based sanitizers
Foam-based hand sanitizers has captured around 16% market share in 2020 and are likely to grow in sales in the coming years. Foam-based sanitizers can be used in less quantity and have shown better outcomes as compared to other types of sanitizers. These factors are anticipated to boost the demand for foam-based sanitizers.
Rising demand for alcohol-based sanitizers
Composition-wise, the hand sanitizer market is bifurcated into alcohol-based sanitizer and alcohol-free sanitizer. Of these, the alcohol-based sanitizer is estimated to showcase lucrative growth in the coming years. Alcohol-based hand sanitizers can quickly eliminate the number of germs on hands. The alcohol used in hand sanitizers can terminate pathogens by breaking their proteins and cells apart. The CDC (Centers for Disease Control and Prevention) recommends consumers to use alcohol-based hand sanitizer that contains at least 60% alcohol also referred to as ethyl or ethanol alcohol.
The alcohol-based hand sanitizer is said to be more efficient in reducing microbial load in comparison to alcohol-free hand sanitizer. As per a report, the market for alcohol-based sanitizer exhibited around 93% share in 2020 and is projected to grow further over the estimated timeframe.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Name: Arun Hegde
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Organization: Global Market Insights Inc.
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/hand-sanitizer-market
Release ID: 89037699
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