Hand Sanitizer Market
Number of pages: 100 | Report Format: PDF | Published date: June 15, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 6.02 billion |
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Revenue Forecast in 2031 |
US$ 10.83 billion |
|
CAGR |
8.94% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global hand sanitizer market was valued at US$ 6.02 billion in 2022 and is expected to register a revenue CAGR of 8.94% to reach US$ 10.83 billion by 2031.
Hand Sanitizer Market Fundamentals
Hand sanitizer is a liquid or gel-based substance that kills germs and bacteria on the hands. It is a convenient and effective way to maintain hand hygiene when soap and water are not readily available. Hand sanitizers typically contain alcohol, such as ethanol or isopropyl alcohol, as the active ingredient, which helps to kill bacteria and viruses on the skin. Hand sanitizers are convenient and portable, making them ideal for on-the-go hand hygiene. Their easy accessibility and use without needing water or towels make them popular among consumers, even beyond the pandemic. Hand sanitizers are not limited to personal use. They are widely used in healthcare settings, including hospitals, clinics, and nursing homes, to maintain hand hygiene.
Hand Sanitizer Market Dynamics
The COVID-19 pandemic brought hand hygiene to the forefront of public consciousness. For instance, according to the World Health Organization's publication 'Coronavirus Disease 2019 - COVID-19 Situation publication,' Europe had the greatest number of persons with COVID-19 infection internationally, with 4,64,212 cases as of April 1st, 2020. People became more aware of the importance of regular hand sanitization to prevent the spread of viruses and bacteria. This increased awareness drove a surge in demand for hand sanitizers. Governments and health organizations worldwide implemented strict health and safety guidelines during the pandemic. These guidelines often recommended or mandated the use of hand sanitizers in various settings, such as healthcare facilities, public spaces, schools, and workplaces. The increased adoption of hand sanitizers in compliance with these regulations contributed to market growth. The pandemic increased the emphasis on personal hygiene practices, including hand hygiene. This cultural shift towards maintaining cleanliness and preventing the spread of diseases drove the demand for hand sanitizers. Industries such as hospitality, food service, and manufacturing also require hand sanitizers to ensure employee and customer safety. The hand sanitizer market witnessed an influx of new products and innovations. Manufacturers introduced various formulations, fragrances, and packaging options to cater to different consumer preferences. This diversification contributed to the expansion of the market.
The hand sanitizer market heavily relies on the availability of raw materials, such as alcohol and packaging components. Supply chain disruptions, whether due to natural disasters, trade restrictions, or unforeseen events, can impact the production and availability of hand sanitizers. Such disruptions can lead to shortages and increased prices. The manufacturing and sale of hand sanitizers are subject to various regulations and standards imposed by government agencies, such as the Food and Drug Administration (FDA) in the United States. Compliance with these regulations can be complex and time-consuming, requiring manufacturers to meet specific formulation, labeling, and packaging criteria. Non-compliance can result in penalties and market restrictions. The surge in demand for hand sanitizers during the pandemic led to a proliferation of products and increased competition in the market. As a result, the market became saturated with numerous brands and offerings. This level of competition can make it challenging for manufacturers to differentiate their products and maintain market share. Some consumers may prioritize other forms of hand hygiene, such as handwashing with soap and water, over hand sanitizers. Understanding and adapting to shifting consumer preferences is crucial for manufacturers in this market.
Hand Sanitizer Market Ecosystem
The global hand sanitizer market has been analyzed from the following perspectives: by product type, distribution channel, and region.
Hand Sanitizer Market by Product Type
Based on the product type, the global hand sanitizer market is segmented into liquid, gel, foam, and others.
The gel segment led the global market with more than 48.3% of revenue share in 2022. Gel-based hand sanitizers are easy to apply and spread on the hands. Their gel consistency allows for better coverage and adherence to the skin, ensuring thorough sanitization. Users find it convenient to dispense and apply gel hand sanitizers, making them a popular choice. Gel-based hand sanitizers typically have a quick-drying formula. After application, the gel evaporates relatively quickly, leaving the hands dry without the need for wiping or rinsing. This characteristic is particularly appealing in situations where access to water and towels is limited, such as when traveling or in public spaces. Gel hand sanitizers are designed to leave little to no residue on the hands after drying. They are formulated to minimize stickiness or greasiness, providing a comfortable and clean feel. This aspect contributes to their popularity and user preference over other formulations. Gel-based hand sanitizers often come in visually appealing packaging and may be available in various colors and fragrances. The aesthetic appeal of gel hand sanitizers can make them more attractive to consumers and encourage regular use. Gel hand sanitizers are widely perceived as effective in killing germs and reducing the risk of infection. The visible gel texture and the association of the gel with cleanliness contribute to the perception of efficacy among users.
Hand Sanitizer Market by Distribution Channel
Based on the distribution channel, the global hand sanitizer market is segmented into drugstore, supermarket/ hypermarket, online sales, and others.
The supermarket/hypermarket accounted for more than 37.95% of revenue share, thus dominating the global market. Supermarkets and hypermarkets typically have a wide range of products, including hand sanitizers, available under one roof. They offer a diverse selection of brands, formulations, sizes, and packaging options, providing consumers with a convenient one-stop shopping experience. Supermarkets and hypermarkets attract a large customer base, ranging from individuals to families and businesses. Their extensive reach and footfall create a high potential for hand sanitizer sales, as customers frequently visit these establishments for regular shopping. Supermarkets and hypermarkets are easily accessible to the public, often located in convenient locations within residential areas or commercial districts. They have extended operating hours, allowing consumers to purchase hand sanitizers conveniently, even outside traditional business hours. Supermarkets and hypermarkets offer the advantage of bulk purchasing. Customers, including businesses and institutions, can buy hand sanitizers in larger quantities at competitive prices. This is particularly advantageous for organizations requiring hand sanitizers for their employees, customers, or facilities. Supermarkets and hypermarkets frequently engage in promotional activities, such as discounts, buy-one-get-one offers, or loyalty programs, to attract customers. These promotions can incentivize customers to purchase hand sanitizers in larger quantities or try different brands.
Hand Sanitizer Market by Region
Based on the region, the global hand sanitizer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Europe accounts for the second largest revenue share in the global market. Europe has strict regulations and standards for hand sanitizers, ensuring product quality and safety. The European Union (EU) regulates hand sanitizers under the Biocidal Products Regulation (BPR) and Cosmetic Regulation. These regulations require hand sanitizers to meet specific efficacy and safety criteria before being marketed in the EU. The stringent regulatory environment contributes to consumer confidence in hand sanitizers available in the European market. European countries have a strong culture of health and hygiene. There is a high awareness among consumers regarding the importance of hand hygiene, especially during flu seasons and infectious disease outbreaks. This cultural emphasis on cleanliness and hygiene drives the demand for hand sanitizers in Europe. Europe has a well-developed healthcare infrastructure, including hospitals, clinics, and nursing homes. Hand sanitizers are essential in these healthcare settings to maintain hand hygiene and prevent spreading infections. The demand from the healthcare sector contributes to the overall market size in Europe. Europe is home to several prominent hand sanitizer manufacturers and brands. These companies have a strong presence in the European market and contribute to its overall dominance. Additionally, European manufacturers often prioritize quality and innovation, which can further drive market growth.
Hand Sanitizer Market Competitive Landscape
The prominent players operating in the global hand sanitizer market are:
Hand Sanitizer Market Strategic Developments
Hand sanitizer is a liquid or gel-based substance that is used to kill germs and bacteria on the hands. It is a convenient and effective way to maintain hand hygiene when soap and water are not readily available.
Procter & Gamble Company, Reckitt Benckiser Group Plc., and GOJO Industries Inc. are some of the major market players in the global hand sanitizer market.
Strict health and safety guidelines and a growing emphasis on personal hygiene are some of the restraints obstructing the growth of the global market.
The gel segment dominated the global hand sanitizer market in 2022.
The global hand sanitizer market was valued at US$ 6.02 billion in 2022.
*Insights on financial performance are subject to the availability of information in the public domain