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The hand sanitizer market size is forecast to increase by USD 1.66 billion at a CAGR of 3.31% between 2023 and 2028.
The hand sanitizer industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Hand sanitizers have gained significant importance In the market due to the increasing awareness of disease-causing germs, viruses such as Norovirus, Influenza, and Meningitis, and the need for personal cleanliness and hygiene. Various types of hand sanitizers, including foam, gel, liquid, sprays, and foaming hand sanitizers, are available In the market. Companies offer a range of hand sanitizers, with ITC Ltd.'s Ecolab brand providing gel-based options like Express Gel Hand Sanitizer, Advanced Gel Hand Sanitizer, and Moisturizing Gel Hand Sanitizer. The market is witnessing new product launches to cater to the growing consumer demand.
A trend influencing the market's growth is the preference for hand sanitizers with beneficial ingredients like Aloe Vera, Tea Tree Oil, and Glycerin, as well as eco-friendly and biodegradable options. Hand sanitizers are widely available at hypermarkets/supermarkets and pharmacy stores, and e-commerce platforms are also significant sales channels. The market's growth is driven by factors such as the increasing internet penetration and the e-commerce industry's expansion. Ethyl alcohol and isopropyl alcohol are common disinfectant solutions used in hand sanitizers. Companies are focusing on sourcing raw materials and securing packaging materials sustainably, using renewable resources and organic personal care ingredients. Hand sanitizers serve various purposes, including personal care, household use, and in specialty stores, hospitals, hotels and restaurants, residential facilities, schools and colleges, military, and the corporate sector.
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The Gel segment was valued at USD 3.92 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to increasing consumer awareness and the need for preventive measures against diseases, including influenza and Norovirus. The US is currently the largest revenue generator in this market. New companies are entering the industry, and existing companies are launching new hand sanitizer products in response to the surging demand. These new offerings come in various forms such as foams, gels, liquids, and sprays, including foaming and spray hand sanitizers. Key ingredients include alcohol-based options with ethyl alcohol or isopropyl alcohol, as well as non-alcohol-based alternatives with glycerin, propylene glycol, aloe vera, tea tree oil, and other beneficial ingredients.
Hand sanitizers are readily available at hypermarkets/supermarkets, pharmacy stores, and e-commerce platforms. The market's growth is driven by the importance of hygiene, cleanliness, and personal care, as well as the increasing penetration of the internet and e-commerce industry. The market is also focusing on sustainability, waste management, and the use of biodegradable ingredients and renewable resources. The market serves various sectors, including schools and colleges, hospitals, hotels and restaurants, residential facilities, specialty stores, and the military and corporate sector. Hand sanitizers are essential for personal cleanliness and hygiene, making them a crucial component in preventing the spread of non-communicable diseases, such as HIV/AIDS, and various viruses and bacteria.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Product innovation and portfolio extension leading to product premiumization is the key driver of the market.
Increased demand for customized product is the upcoming market trend.
Presence of counterfeit products is a key challenge affecting the industry growth.
The hand sanitizer market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the hand sanitizer market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, hand sanitizer market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Hand sanitizers have become an essential component of daily life In the modern world, as the importance of maintaining personal hygiene and preventing the spread of disease-causing germs, viruses, and bacteria has come to the forefront of global health consciousness. These disinfectant solutions come in various forms, including foams, gels, and liquids, catering to diverse consumer preferences. The market encompasses a wide range of beneficial ingredients, such as aloe vera and tea tree oil, which not only ensure effective disinfection but also provide additional skin care benefits. These ingredients offer a gentler alternative to alcohol-based sanitizers, which can be harsh on the skin.
Hand sanitizers are available in various formats, including foaming and spray types. Alcohol-based hand sanitizers contain ethanol or isopropyl alcohol as the primary active ingredient, while non-alcohol based sanitizers rely on glycerin, propylene glycol, or water as their disinfectant agents. Both types of hand sanitizers are effective in eliminating norovirus, influenza, meningitis, and other common illnesses. The market is a dynamic and growing industry, with a diverse range of consumers and distribution channels. Hypermarkets and supermarkets, pharmacy stores, and e-commerce platforms are among the primary sales channels for hand sanitizers. Television and internet marketing have also played a significant role in increasing awareness and demand for these products.
Manufacturers of hand sanitizers source raw materials from various suppliers and secure packaging materials to ensure the highest quality and sustainability. Biodegradable ingredients and renewable resources are increasingly being used to cater to the growing demand for eco-friendly and organic personal care products. The market is influenced by several factors, including hygiene and cleanliness trends, health associations' recommendations, and infrastructural facilities in various sectors. Schools and colleges, hospitals, hotels and restaurants, residential facilities, specialty stores, and the military and corporate sector are among the primary consumers of hand sanitizers. Hand sanitizers are not limited to personal use but also have household and commercial applications. They are used in restaurants, shopping plazas, and other public places to maintain cleanliness and prevent the spread of illnesses. The market is expected to continue growing, driven by increasing awareness of personal hygiene, the e-commerce industry's growth, and the ongoing demand for sustainable and eco-friendly products. The market's future looks promising, with opportunities for innovation and growth in various sectors.
Market Scope |
|
Report Coverage |
Details |
Page number |
190 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.31% |
Market growth 2024-2028 |
USD 1660.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.17 |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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