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The Hand Sanitizer Market size is projected to increase by USD 1,656.28 million and the market is estimated to grow at a CAGR of 3.4% between 2022 and 2027.Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The market expansion is contingent on several factors, including product innovation and portfolio expansion leading to premium product offerings, the increase in pandemic diseases, and innovative packaging concepts. Additionally, market growth is influenced by various factors such as the presence of counterfeit products, the adverse effects of hand sanitizers, and the presence of strict government regulations and standards.
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Product innovation and portfolio extension leading to product premiumization are notably driving market growth. There is an increasing focus by several market players on enhancing their products by improving their R&D operations. Additionally, there is an increasing focus on differentiating themselves from pharmaceutical companies. As a result, there is a rise in innovative ingredients and technologies used in their product offerings. Furthermore, customers are increasingly seeking hand sanitisers that address concerns related to multiple skins- and hygiene-related issues in minimal time. Further, factors such as the rising adoption of unhealthy lifestyles and deteriorating environmental conditions, there is an increase in several hygiene-related issues including the spread of communicable diseases such as the flu. Therefore, there is a growing preference for BPC products such as hand sanitisers among consumers to overcome such concerns. Hence, such factors are expected to drive market growth during the forecast period.
An emerging trend in the hand sanitiser market is the customization of products for commercial and institutional end-users. Companies are now focusing on personalized products and the interior design of their establishments. Developed regions like the Americas and Europe have seen a rise in demand for customized products in the last five years. Similarly, emerging countries like India and China are showing high demand for personalized office supplies, including hand sanitisers and dispensers.
Moreover, leading companies in the global hand sanitiser market offer customized and personalized products to enhance the aesthetic appeal of their offerings. The level of customization may include assigning company logos or names on the hand sanitisers. For example, Touchland offers customized Touchland KUB to its commercial customers by allowing them to print their brand name and logo on the dispensers. The company has expanded its personalization services across regions, and customers in the commercial end-user segment personalize their hand sanitizers with their company name and logo to strengthen their brand identity. This trend is expected to drive market growth during the forecast period as it sends a message about care for the health and well-being of staff and visitors.
The side effects of using hand sanitizer are the major challenge impeding market growth. Even though hand sanitizers are extensively used to spread germs and diseases including common flue, there are several side effects associated with hand sanitizers that can negatively impact the market growth. For example, the overuse of hand sanitizers can lead to skin irritation in the form of itching, burning sensation, and dry skin.
Moreover, the majority of hand sanitizers contain alcohol which can lead to redness, dryness, and peeling of skin if used very often. Additionally, consumers should strictly avoid the use of hand sanitizers on different body parts such as eyes, ears, nose, and mouth as it can lead to irritation and sometimes permanent damage. Hence, such factors are negatively impacting the market which in turn hinders the market growth during the forecast period.
The gel segment was the largest segment and was valued at USD 3,807.02 million in 2017. Additionally, several market players in the global hand sanitizer market are launching new and innovative products since 2010. For instance, in November 2020, the British luxury brand Molton Brown launched hand sanitizer gels. The main feature of this gel is that it kills 99.9% bacteria and viruses, comes in 100 ml bottles to easily fit bags and pockets, and refreshes the hands without leaving them feeling dry. One of the main trends which is positively impacting the gel segment of the global hand sanitizer market is the increasing popularity of hand sanitizers with vibrant fragrances rather than conventional fragrances. Furthermore, there is a rising preference for organic hand sanitizers among health-conscious customers. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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The growing health concern among consumers fuels the growth of the foam segment which in turn will drive the market growth during the forecast period. There is an increasing popularity for the foam sanitizer segment among consumers as these sanitizers cling to the hand during application and do not slide off the hand like gel hand sanitizers. Additionally, there is a growing perception that it is easier to spread foam sanitizers when compared to gel sanitizers. Furthermore, the majority of the foam sanitizer dispenser has a small output which prevents the wastage of products. hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to market players is North America. One of the main factors which has significantly contributed to the growth of the global hand sanitizer market in North America is the increasing use by consumers as a preventive measure against different diseases including flu and a recent outbreak of COVID-19. The main country in North America which has significantly contributed to the global hand sanitizer market is the US.
Additionally, due to the increasing demand for hand sanitizer in the region, several new market players are entering the market and various existing players are launching innovative products. Hence, such factors are positively impacting the market growth in the region which in turn will drive the global hand sanitiser market in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of global hand sanitizer market witnessed significant growth due to the increasing demand for hand sanitizer among people as a preventive measure against COVID-19 in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in the economy. The increasing demand for wellness and health products with a rising rate of diseases will fuel the demand for hand sanitizer. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 market 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.
The hand sanitizer market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Hand Sanitizer Market Scope |
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Report Coverage |
Details |
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Page number |
186 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.4% |
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Market growth 2023-2027 |
USD 1656.28 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.1 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 32% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Arbro Pharmaceuticals Pvt. Ltd., Arrow Solutions, Dow Chemical Co., Earth Mama Angel Baby LLC, EO Products, Godrej Consumer Products Ltd., GOJO Industries Inc., ITC Ltd., Kiilto Family Group, Neogen Corp., Petra Co., Reckitt Benckiser Group Plc, S.C. Johnson and Son Inc., Skinvisible Pharmaceuticals Inc., The Clorox Co., The Procter and Gamble Co., TOUCHLAND LLC, Unilever PLC, and Vi Jon LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
12 Vendor Landscape
13 Vendor 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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