The demand for hand sanitizer is increasing owing to the increasing awareness of the use and benefits of health and hygiene products. Since the beginning of 2020, there has been a surge in demand for hand sanitizers worldwide. This was a result of an outburst of the global pandemic, COVID-19. Key players in the market are focused on launching new products with enhanced effectiveness and creating awareness regarding the usage of such products. Amid, the outburst of the global pandemic, COVID-19, global manufacturers of hand sanitizers are ramping up their production scale to meet the massive demand of hand sanitizers worldwide.
In 2018, the Global Hand Sanitizer Market was valued at USD 1.15 Billion and is expected to grow at a CAGR of 9.1% between 2019 and 2025.
Currently, the hand sanitizer market is experiencing an acute shortage in North America and Europe. As a result, to meet the increasing demand for hand sanitizers, many North American and European distillers and brewers have started manufacturing hand sanitizers. For instance, Gleann Mór Spirits Co. Ltd., BrewDog, Pernod Ricard, and Verdant Spirits are some of the key brewers and distillers that have started manufacturing of hand sanitizers. Similarly, Louis Vuitton SE, popularly known as LVMH, a French luxury fashion conglomerate, announced that it would be using its sprays and perfume manufacturing facilities for manufacturing hand sanitizers to meet the growing demand in France. Therefore, the outburst of such global pandemics is anticipated to create significant growth opportunities for the hand sanitizer manufacturers worldwide.
Market USP
Increasing awareness regarding the use of health and hygiene products owing to the sharp rise in global pandemics such as COVID-19.
Growth Opportunities in the Market
Preference for Gel-Based Hand Sanitizers: The gel-based hand sanitizer segment dominated the global hand sanitizer market in 2018 and is expected to maintain its position in the market during the forecast period. Unlike, liquids and sprays that gets evaporated quickly, gel-based hand sanitizers are the most common forms as it helps in retaining more moisture in the skin and hence are the preferred type of hand sanitizers.
Increasing health infrastructure: The hospitals & health centers segment is projected to be the fastest-growing end-user segment for hand sanitizers during the forecast period. The increasing number of hospitals and health centers worldwide owing to rising health concerns is anticipated to create growth opportunities for hand sanitizer manufacturers during the forecast period.
Easy Availability of Hand Sanitizers in Store-Based Distribution Channels: The easy accessibility of hand sanitizers in store-based distribution channels has resulted in its dominance. Additionally, the increasing number of store-based channels for sale and purchase of hand sanitizers worldwide, such as supermarkets and hypermarkets, pharmacies, and drug stores as well as several other local stores, have resulted in the dominance of store-based distribution channels. Many companies are opting for online distribution platforms as they extend their consumer reach.
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Key Players
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