The global hand sanitizer market is estimated to register a CAGR of 9.93% during the forecast period, 2020-2028. The factors contributing to the market growth are innovations in hand sanitizers, increasing disposable income, growing demand for hand sanitizers, and the increasing number of healthcare-associated infections.
Hand sanitizers are chemicals used as a substitute for soap and water for disinfecting hands so as to prevent the spread of several diseases and infections. Clean hands and the general maintenance of hand hygiene are considered to be a significant step in keeping germs and bacteria at bay. There is an increase in the adoption of hand sanitizers across the globe, which has led to several local and international vendors launching a wide variety of products. The increasing usage of sanitizers across varied sectors is due to the government and NGO initiatives across the world, urging people to maintain cleanliness and hand hygiene through the frequent use of hand sanitizers. Many internationals stakeholders are working towards promoting handwashing and hand hygiene practices, and this involves the participation of organizations across sectors like academics and scientific communities. Such initiatives and programs provide lucrative market growth opportunities for the vendors to launch and market their products in the global market. However, the market growth is curtailed by factors like increasing number of toxicants in sanitizers and volatile raw material prices.
The North America market region was evaluated to be the dominating market in 2019, with a revenue share of 36.23% in the global market. The market region is estimated to maintain the market share trend throughout the forecast period. The growing awareness with regard to the importance of hygiene is one of the many drivers of North America market growth.
Some of the eminent companies in the market include, Caldrea Inc, Cleenol Group Ltd, Elyptol, Cleanwell LLC, 3M Company, etc.
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