In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Hand Sanitizer Market Report
The global hand sanitizer market by revenue is expected to grow at a CAGR of 12% during the period 2019–2026.
The global market has been witnessing a surge since the breakout of the COVID-19 pandemic. This peak is likely to continue for the next two years and would start to normalize after 2022. The pandemic has increased focus on the importance of washing hands as a simple and cost-effective solution to reduce disease spread. The WHO emphasized the need to focus on longer-term uptake to form handwashing habits. Several government bodies are considering designing and adapting handwashing behavior change programs that are effective during COVID-19. This, in turn, is expected to fuel the demand for liquid hand wash during the forecast period. Moreover, the surge in adopting new formulation of hand sanitizers by manufacturers to provide an enhanced experience to consumers drives the market growth. The increasing popularity of organic sanitizers, which are eco-friendly, skin-safe, and sustainable, is also likely to influence market growth. Continuous innovations in formulations and dispenser designs such as touchless dispensers are gaining traction in the market.
The following factors are likely to contribute to the growth of the hand sanitizer market during the forecast period:
- High Penetration of Internet
- Demand for Flavored & Organic Hand Sanitizers
- The Outbreak of the COVID-19 Pandemic
- Growth in Promotional Activities
The study considers the global hand sanitizer market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Hand Sanitizer Market Segmentation
The global hand sanitizer market research report includes a detailed segmentation by product, functional ingredient, end-user, distribution channel, geography. Gel and liquid-based hand sanitizers are expected to dominate the market by revenue as well as volume. Formulated with ethyl alcohol, gel-based disinfectants can kill 99% of common germs within seconds. These products deliver the maximum coverage to the skin and spread evenly, thereby providing maximum against germs. In terms of volume, the gel-based hand sanitizer market in North America is expected to witness an incremental growth of over 6 million gallons with absolute growth of over 87% during 2019– 2026.
Alcohol-based sanitizers are significant contributors to the global hand sanitizer market. The ability to prevent infections and kill most bacteria, fungi, and viruses is the primary factor driving the demand. North America is expected to generate an incremental growth of over $149 million for isopropyl hand sanitizers during the forecast period. APAC is a major potential market with a rise in COVID-19 cases in China and India. Ethyl alcohol-based sanitizers dominate the global alcohol-based hand sanitizer market share as most OTC hand sanitizers contain ethyl alcohol as the main functional ingredient. The cost outlook for isopropyl alcohol (IPA) raw materials has experienced considerable disruption owing to the rise in demand. In Europe, the price witnessed a high spike due to the high demand for IPA. The European IPA market is increasingly heating up, with producers such as INEOS and SEQENS are prioritizing the supply of IPA-containing hand gels to hospitals and health centers.
The growing awareness of hand hygiene is expected to boost the market for alcoholic hand sanitizers in healthcare settings. Thus, the revenue is expected to reach over $2 billion by 2026. With such rising awareness about contagious infections and the importance of maintaining hand hygiene among individuals, hand sanitizer products in the healthcare sector have observed a rise. People have started to adopt the usage of sanitizers in all such places more pervasively. Gel-based sanitizers are the most demanded products from the healthcare setting. Vendors providing gel-based products are increasing their focus as they hold tremendous growth potential. Increased recommendations by infection control professionals boost the sale of gel-based sanitizers.
Hand sanitizers are primarily sold via supermarkets and hypermarkets, departmental, retail, and drug stores worldwide. They are also available to end-users through e-commerce portals and online direct-to-consumer stores. Supermarkets and hypermarkets provide ample opportunities to vendors for promoting their products across the market due to large customer footfall. The segment is expected to contribute a revenue of over $1 billion by 2026. Retail stores are the preferred choice among customers, especially in the emerging market. Being a part of the hygiene category, hand sanitizers are usually sold across drug stores. Customers tend to buy such products as part of health safety measures. Several retailers are offering these products via online portals, which provide customers a wide variety of products. With the penetration of the internet growing across the world, prominent vendors are promoting and selling their products via online modes. The segment is expected to grow at the highest CAGR of 16% during the forecast period.
- Hand Wipes
- Government & Military
o Supermarkets & Hypermarkets
o Departmental Stores & Discounters
o Other Retail Stores
o Drug Stores
- Online/E-commerce Stores
o Ethyl Alcohol
o Isopropyl Alcohol
Insights by Geography
The penetration of hand sanitizers remains all-time high in the US and Canada. North America is likely to gain its share due to the impact of the COVID-19 pandemic and is expected to account for a market share of 34% by 2026. The US is the largest market for hand sanitizers and hand hygiene solutions, and the increasing retail expansion has boosted the market revenue for the same. Healthcare is one of the largest contributors to the US economy, accounting for close to a fifth of the overall gross domestic product. Hence, the US offers vast opportunities for sanitizer vendors in terms of consumption and demand. The case has been so since the outbreak of the COVID-19 pandemic. The natural landscape of North America strongly reflects its physical setting. A rich and defined culture has empowered societies by increasing their purchasing power. This positive environment has created immensely favorable dynamics for businesses. Adding to the social landscape, factors such as high consumer spending and the tendency of dynamic purchasing behavior contribute to the overall acceptance of hand sanitizers widespread acceptance.
- North America
o China & SAR
o South Korea
- Latin America
- Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global hand sanitizer market is fragmented in nature due to the presence of local and global market players. 3M, GOJO Industries, P&G, Reckitt Benckiser, Unilever, and Vi-Jon are the key vendors in the market. The market concentration in developed countries such as the US and other Western European countries is high. In contrast, the market is in its nascent stage in developing economies such as China and India because of the entry of several global brands in these countries and growing awareness of end-user toward hand sanitation. The adoption rate among end-users worldwide has been impressive. Due to increased demand, the market has witnessed the entry of several new vendors. The competition among these companies has intensified, leading to many innovative and advanced solutions in the market.
- GOJO Industries
- Procter & Gamble (P&G)
- Reckitt Benckiser
Other Prominent Vendors
- Bath & Body Works
- Best Sanitizers
- Christeyns Food Hygiene
- Cleenol Group
- Kutol Products Company
- Lion Corporation
- Medline Industries
- Nice-Pak Products
- Safetec of America
- The Himalaya Drug Company
- Vectair Systems
- Whiteley Corporation
- Zoono Group
- JSW Paints
- Emami Limited
- Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL)
- Asian Paints
- The Clorox Company
- Kavit Polybind Private Limited
- Cossmic Product Private Limited
- Bo International
- Radix Hi-Care Products
- Kripa Pharma
- EO Products
- Edgewell Personal Care
- SC Johnson
- Apollo Health and Beauty Care
- HARTMANN GROUP
- Zidac Laboratories
- Shangrao Chunyu Technology
Key Questions Answered
1. What are the key factors and trends enabling the hand sanitizer market growth?
2. How has the COVID-19 pandemic influenced the demand for hand sanitizer and hygiene products?
3. Who are the major players in the value chain analysis of the hand sanitizer market?
4. Which segment is likely to generate the highest revenues during the forecast period?
5. Which regions are likely to dominate the hand sanitizer market shares during the forecast period?