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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 market 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 the product 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 the market. 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 products that address concerns related to multiple skin- 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 sanitizers among consumers to overcome such concerns. Hence, such factors are expected to drive market growth and trends during the forecast period.
An emerging trend in the hand sanitizer 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 sanitizers and dispensers.
Moreover, leading companies in the global hand sanitizer 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 sanitizers. 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 these are extensively used to spread germs and diseases including common flue, there are several side effects associated with it that can negatively impact the market growth. For example, the overuse of it can lead to skin irritation in the form of itching, burning sensation, and dry skin.
Moreover, the majority of these products contain alcohol which can lead to redness, dryness, and peeling of skin if used very often. Additionally, consumers should strictly avoid the use of these products 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 share 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 have been 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 that is positively impacting the gel segment is the increasing popularity of vibrant fragrances rather than conventional fragrances. Furthermore, there is a rising preference for organic products 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 products. Additionally, there is a growing perception that it is easier to spread foam sanitizers when compared to gel sanitizers. Furthermore, the majority of foam sanitizer dispensers have 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 that has significantly contributed to the growth of the global 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 products 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 regional market during the market growth and forecasting 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 market trends and analysis 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 market research and growth forecast and analysis 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.
The Market is witnessing increased demand due to concerns related to infectious diseases such as influenza, meningitis, and hand, foot, and mouth disease. Essential in preventing the spread of illnesses like pertussis (whooping cough) and combating bacteria like methicillin-resistant staphylococcus aureus (MRSA), hand sanitizers come in various formulations including those containing ethyl alcohol and soothing agents like aloe vera. Popular fragrances such as Black Cherry Merlot, Champagne Toast, and Gingham Fresh enhance user experience. With recommendations from the Centers of Disease Control & Prevention, gel-based and foam-based hand sanitizers are prevalent in the market, available through diverse channels including hypermarkets & supermarkets and e-commerce platforms, meeting the evolving hygiene needs of consumers.
Hand Sanitizer Market Scope |
|
Report Coverage |
Details |
Page number |
186 |
Base year |
2022 |
Historic period |
2017-2021 |
Market forecasting period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.4% |
Market growth 2023-2027 |
USD 1,656.28 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.1 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 32% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market growth 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 |
Customization purview |
If our market analysis and 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
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