News

The global Hand Sanitizer market size is expected to be worth around US$ 13.6 billion by 2027, according to a new report by Vision Research Reports.

The global Hand Sanitizer market size was valued at US$ 2.6 billion in 2019 and is anticipated to grow at a CAGR of 22.5% during forecast period 2020 to 2027.

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Growth Factors

Shifting consumer preference towards convenient hygiene products is expected to drive the market. In addition, the recent COVID-19 pandemic at the beginning of 2020 has spurred the market for hand sanitizer. The demand for hand hygiene products has been exceeding the supply in both online as well as brick and mortar sale channels worldwide owing to the global outbreak of the virus in a short time span. The outbreak has reinforced the significance of regular hand sanitizing and cleaning practices among consumers and is among the prominent factor driving the market.

Growing emergence related to regular hand washing and sanitization among consumers owing to recent COVID-19 pandemic have set the tone for the market enhancement during the forecast period.

Major sanitizer manufactures have been ramping up their production capacity as well as improvising the supply chain strategies to cater the unprecedented spike in the sanitizers worldwide. According to a report by Adobe Analytics, the demand for hand sanitizer in U.S. spiked to 1,400% between December 2019 and January 2020.

Report Highlights

The gel based hand sanitizer segment dominated with a share of more than 49.0% of the global market in 2019. Gel sanitizers are usually thin and watery in formulation and therefore provide the convenience of getting spread easily and penetrate into the skin to kill most of the bacteria.

The foam based hand sanitizer segment is expected to dominate the market with a revenue based CAGR of 23.0% from 2020 to 2027. The product is gaining prominence in the market owing to its ability to penetrate the skin and stay there for a longer period of time.

Hypermarket and supermarket channels accounted for the largest share of more than 39.3% of the market in 2019. An increasing number of hypermarkets and supermarkets across various regions have experienced a surge in the distribution of hand sanitizers in the market.

Online distribution channel is projected to witness a CAGR of 23.1% from 2020 to 2027 owing to the increasing influence of digital media and marketing. Increasing internet penetration in various countries such as India, China, Mexico, and Brazil has developed the market for online sales channels from the last three to four years.

North America dominated the market and accounted for a revenue share of 32.1% in 2019. Growing concern for health and hygiene maintenance by the majority of the population in the region is expected to drive the market.

Asia Pacific is expected to witness the fastest CAGR of 23.4% from 2020 to 2027.  The growth is attributed to the growing awareness about hygiene among consumers.

Key Players

Reckitt Benckiser Group plc; Procter and Gamble; The Himalaya Drug Company; GOJO Industries, Inc.; Henkel AG and Company; Unilever; Vi-Jon; and Chattem, Inc.

Market Segmentation