NOIDA, India, Aug. 12, 2020 /PRNewswire/ -- UnivDatos Market Insights released a report titled "Hand Sanitizer Demand Analysis - COVID-19 Impact Market by Product (Gel, Liquid, Foam, Others), End-Users (Hospitals, Households, Restaurants & Hotels, Government & Commercial Offices, Other Public Places), Sales Channel (Pharmacies, Supermarkets/Hypermarkets, Departmental/Convenience Stores, Others (Online, Direct & Institutional Sales, etc.)) and Region (United States, Canada, Italy, Spain, France, Germany, United Kingdom, India, Iran, Turkey, Netherlands, Rest of World) - Current Analysis and Forecast (2020-2026)." Global hand sanitizer Market was valued at US$ 2,615.4 1 million in 2019 and is anticipated to witness very high growth in 2020 and would reach a market size of US$ 15,352.6 million by the end of 2020. Further, the market is expected to witness a CAGR growth of 9.15% during the 2021-2026 period.
Consumer preferences are shifting toward convenient hygiene products. The COVID-19 pandemic has strengthened the importance of regular hand sanitizing and cleaning practices. The increasing awareness and the rising influence of social media and online advertisements have exposed people to the recent trends of personal hygiene which is quickening the practice of hand sanitizers among consumers. These factors are expected to act as significant drivers in the hand sanitizer market. Any health hazards associated with chemical ingredients are anticipated to hinder the market growth during the analyzed period.
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COVID-19 Impact on Hand Sanitizer Market
There has been a significant increase in demand for the alcohol-based hand sanitizers during COVID-19. FDA worked with manufacturers, compounders, state boards of pharmacy and public for increasing the supply of such hand sanitizers to the Americans. In the absence of prevention or treatment of COVID-19, hand hygiene is a mainstay of efforts to prevent the spread of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Panic shopping and hoardings of hand sanitizers have made nearly a shortage in any of the stores. In the US, ethanol companies have shipped several million gallons of alcohol to produce hand sanitizers. In India, approximately 45 distilleries and 564 other manufacturers have been granted permission to produce hand sanitizers. Additionally, more than 55 distilleries are likely to be permitted in one or two days and many more are being motivated to produce sanitizers in this scenario.
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There are several important aspects for the preparedness of hospitals, and these include creating isolation wards and intensive care facilities, ventilators and other supportive equipment, protocols for treatment and infection control and personal protective equipment for health personnel. Global Hand Sanitizer Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily bifurcated into
In 2019, the gel-based hand sanitizer segment dominated the market and is expected to remain dominant throughout the forecast period 2020-2026. In response to COVID-19, CavinKare has introduced hand sanitizers in various SKUs across three brands; Chik, Nyle and Raaga to cater to the needs of consumers during COVID-19.
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By End User, the market is primarily segmented into
- Household, Restaurants & Hotels
- Government & Corporate Offices
- Others (Public Places, Schools, etc.)
In 2019, the household segment held the lead share in the Global Hand Sanitizer Market as they represent the greatest penetration and user demand for hand sanitizers.
By Distribution Channel, the market is primarily fragmented into
- Departmental/Convenience Stores
- Others (Online, etc.)
In 2019, departmental/convenience stores generated maximum revenue in the Global Hand Sanitizer Market attributed to an increasing number of departmental stores across various regions and quick access to the product in contrast to online channels where the consumers are made to wait for the delivery of the product.
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Hand Sanitizer Market Geographical Segmentation Includes
- Rest of World
Based on the estimation, the United States dominated the hand sanitizer demand market in 2019. With the growing cases of COVID-19, United States currently is expected to need even more hand sanitizers than any other country across the world as the region acquires more than 30% of the global COVID-19 cases alone and the cases are still on the rise.
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The major players targeting the market includes
- Gojo Industries
- SC Johnson
- Reckitt Benckiser
- Unilever Lifebuoy
The competitive landscape has been provided pointing out the position of the key market players in the market along with the market share that is held by each player. These players are constantly working on expanding the market reach through M&A's along with partnerships.
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