The introduction and popularity of organic sanitizing products, which are eco-friendly, skin-safe, and sustainable will contribute to higher sales in the global hand sanitizer market.
Arizton’s recent market research report on the global hand sanitizer market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product type (gel-based, liquid, foam-based, hand wipes, and spray), by end-user type (healthcare, hospitality, residential, corporate, government & military, and education), by distribution channel (online and retail), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global hand sanitizer market is projected to reach values of around $3 billion by 2024, growing at a CAGR of more than 14% during 2018-2024.
The rising awareness towards personal hygiene and increasing cases of virus outbreaks across various geographies is propelling the demand for hand hygiene solutions in the global market.
The top 3 drivers and trends attributing to the development of the global hand sanitizer market are discussed below:
Rise in Number of Healthcare-associated Infections
The increasing incidences of healthcare-associated infection or HAIs are boosting the demand in the global hand sanitizer market. These infections acquired by patients in hospitals when they receive healthcare treatment for medical or surgical conditions. The extensive use of various types of medical devices such as catheters or ventilators used during a procedure such as surgery is increasing the risk of infections among patients in the global market. These infections are caused by viruses, bacteria, fungi, or other less common pathogens, which in turn, boosts the demand in the global hand sanitizer market. HAIs are caused in any health care facility including acute-care hospitals, end-stage renal disease facilities, ambulatory surgical centers, dialysis facilities, and long-term care facilities. Some of the common HAIs in the market are central-line associated bloodstream infections (CLABSI), pneumonia, Clostridiumdifficile infections, surgical site infections, methicillin-resistant Staphylococcus aureus (MRSA) infections, and urinary tract infections. Hand sanitizers are one of best available options for healthcare providers to avoid HAIs and reduce associated costs. The increasing number of hospital re-admissions due to HAIs is propelling the growth of the global hand sanitizer market.
Growing Focus on Marketing Efforts and Promotional Activities by Vendors
The growing need to devise effective marketing strategies and product development will contribute to increased sales in the global hand sanitizer market. The leading vendors are focusing on choosing appropriate distribution channels for their products to reach a large group of consumers. The implementation of aggressive pricing strategies to advertise their products among end-users will allow players to gain a competitive advantage in the global hand sanitizer market. The top manufacturers are leveraging online platforms to increase awareness among consumers about their products and educate them about the same. The use of online websites to provide home care tips using hand hygiene and their benefits to residential customers and commercial entities will drive the growth of the global market. Currently, hand sanitizers are majorly sold through retail chains such as Target, Walmart, Best Buy, Tesco, various grocery and department stores; vendors are still focusing on online strategies to boost sales across the world market. The leading players are using effective advertising and promotional methods to create awareness about their products among end-users and establish their brand recognition in the global hand sanitizer market.
Growing Demand for Flavored & Organic Hand Sanitizers
The development and manufacturing of flavored and organic hand sanitizing products will revolutionize the global hand sanitizer market. The leading vendors are investing in the development of varied variants of products with the aim to offer something unique to its consumers in the global market. The introduction of fragrances or scents for hand sanitizers will transform the market over the next few years. Some of the fresh fragrances that are available in the global hand sanitizer market are fresh fruit, Japanese blossom, ocean breeze, spring blue, aloe, strawberry, orange, and grape. Vendors are using fragrances ingredients certified by the International Fragrance Association (IFRA) in sanitizers. IFRA-certified fragrances assure safety from harmful chemicals. The recent trend of the influx of bio or organic ingredients in products will propel the demand for organic hand sanitizers in the global market. The organic products are made of grain alcohol, organic glycerin, aloe vera gel, and essential oils such as lavender. The organic products have anti-antibiotic effects and will drive the growth of the global hand sanitizer market during the forecast period.
The leading vendors in the global hand sanitizer marketare 3M, GOJO Industries, Procter & Gamble (P&G), Reckitt Benckiser Group, The Unilever Group, and Vi-Jon.
The complete overview of the latest market research report on the global hand sanitizer market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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