The liquid and foam-based hand sanitizer market size is likely to grow at impressive CAGRs of over 17% and 14%, respectively, by 2025.
The global hand sanitizer market is witnessing an increased demand from healthcare, hospitality, residential, education, corporate, government, and military sectors. Hand sanitizers are primarily used to disinfect hands to prevent the spread of several infections and diseases. One of the main factors driving demand of market growth currently is the continuing outbreak of the coronavirus disease (COVID-19), which has been designated a global pandemic by the World Health Organization (WHO). The average demand across the globe have witnessed a rise of 700%.The widespread usage of hand sanitizers across varied sectors, especially in the healthcare industry, is increasing due to several initiatives undertaking by government bodies and NGOs worldwide,urging people to maintain hand hygiene and cleanliness by using hand sanitizers frequently. The healthcare segment is projected to achieve an incremental growth of over $1.6 billion by 2025.
The hand sanitizer market size is expected to grow at a CAGR of over 17% during the period 2019–2025.
Arizton’s latest market research report on the hand sanitizer market provides comprehensive industry analysis, market size, trend forecasts, and competitive analysis. The study includes insights on the segmentation by Product (gel-based, liquid, foam-based, hand wipes, and spray), End-user (healthcare, hospitality, residential, corporate, government & military, and education), Distribution Channel (retail and online), and Geography (North America, APAC, Europe, Latin America, and the Middle East & Africa)
The leading drivers and trends influencing the growth of the hand sanitizer market size are discussed below:
Rise in Number of Healthcare-associated Infections
According to the US CDC estimates, 1.7 million cases of Healthcare-associated Infections(HAI) occur in the US annually. These HAIs are a major challenge for both healthcare receivers/patients and healthcare providers. According to estimates, every 1 in 25 patients seeking medical treatment in a hospital is subjected to HAIs in the US. This potential economic impact of these HAIs goes up to $46 billion every year on the US healthcare system. The US CDC emphasizes hospitals to follow its hand hygiene recommendations to prevent HAIs. Japan is focusing its efforts to promote proper hand hygiene among healthcare workers, and this has been an important component of efforts to prevent healthcare-associated infections in the country. Hand sanitizers are one of best available options for healthcare providers to avoid HAIs and reduce associated costs. All these factors are expected to drive the demand for hand sanitizers among healthcare facilities during the forecast period.
Growing Health Consciousness among Consumers
The growing trend of health consciousness among people, which is currently witnessed only among certain segments of the society, is expected to increase significantly among the population during the forecast period. The millennial population is becoming increasing inclined to pursue a healthy lifestyle. Millennials are among the largest buyer segment of hand sanitizers in the market. The factors such as ease of use, portability, and conscious need for protection against germs have boosted the sales of hand sanitizers among millennials. The increased fear of Ebola, SARS, Swine Flu H1N1 diseases, and the outbreak of COVID-19 is increasing the spread of contagious diseases, which is increasing consumer awareness and hygiene among millennials.Thus, there is a growing demand for hand sanitizers, which are highly effective against germs and infections among the health-conscious population worldwide.The market growth is likely continue to increase as a result of the growing health awareness toward hand hygiene as well as the rising per capita income in developed and developing countries.
Growing Demand for Flavored & Organic Hand Sanitizers
To attract end-users, major market players have started developing several variants of sanitizers. This has led to the introduction of fragrances or scents in hand sanitizers. These innovations to add fragrances have offered positive dividends, thereby boosting market growth. The market is also witnessing the influx of bio or organic-based hand sanitizers in many countries. As people are getting aware of the adverse effects of chemicals present in hand sanitizers, they are more inclined to purchase organic hand sanitizers. Natural hand sanitizers are the best suitable for people that are prone to suffer from skin problems such as eczema or psoriasis.
The key vendors of the hand sanitizer market include the 3M Company, GOJO Industries, Procter & Gamble (P&G), Reckitt Benckiser Group, The Unilever Group, and Vi-Jon.
Other Prominent Vendors – Bath & Body Works, Best Sanitizers, BODE Chemie, Chattem, Cleenol Group, Deb Group, EcoHydra Technologies, Ecolab, Henkel, Kimberly-Clark, Christeyns Food Hygiene, Kutol Products Company, Linkwell Deutschland, Lion Corporation, Medline Industries, Safetec of America, The Himalaya Drug Company, Vectair Systems, Whiteley Corporation, and Zoono Group
The complete overview of the latest market research report on hand sanitizer market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides hand sanitizer market size and forecast for major geographical regions and key countries.
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