Hand Sanitizer Market Growth & Trends
The global hand sanitizer market is expected to reach USD 10.84 billion by 2030, expanding at a CAGR of 6.8%, according to a new report by Grand View Research, Inc. Rising prevalence of regular hand washing and sanitization among consumers owing to the recent COVID-19 pandemic has been driving the demand for hand sanitizer market.
Major sanitizer manufacturers have been ramping up their production capacity as well as improvising the supply change strategies to cater to the unprecedented spike in sanitizers worldwide. According to a report by Adobe Analytics, the demand for hand sanitizer in the U.S. spiked to 1,400% between December 2019 and January 2020. The U.S. government further promotes the usage of hand care products in order to increase awareness as well as avoid health issues among consumers.
Moreover, there are consumers who need special attention to fight the rising infection caused by the COVID-19 pandemic. The ones who have been already suffering from severe diseases namely HIV before the pandemic hit. In wake of this, companies are taking initiatives to help fight infection for the ones who cannot take care of themselves. For instance, in January 2021, Reckitt Benckiser donated 35,000 bottles of Dettol hand sanitizer to Russian HIV community centers in Moscow, Voronezh, Kaluga, Kursk, Orel, and Vladimir. Hence, initiatives like these will further drive the market for hand sanitizers.
Gel based hand sanitizer held the largest segment in 2021 and is expected to maintain dominance over the forecast period. These hand sanitizers come in a variety of fragrances that appeal to customers of all ages. Furthermore, hand sanitizer gels frequently contain moisturizing ingredients that help keep hands soft and limit the product’s harsh effects on the skin. These products are also easier to spread and drip less than spray or liquid counterparts, which contributes significantly to segmental market trends.
The hypermarket & supermarket segment contributed a majority of the share to become a larger division in the global revenue in 2021. The increasing penetration of independent retail giants such as Walmart, and Costco among others is boosting product visibility and attracting a larger consumer base. Consumers prefer to physically verify these products before buying, which is driving the sales through this channel. The hand sanitizer market is highly fragmented with the presence of a large number of regional and local players.
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Hand Sanitizer Market Report
Hand Sanitizer Market Report Highlights
- Foam based hand sanitizer is projected to register the fastest growth due to a more cost-effective option for large organizations as it dispenses less amount of product per pump
- Online channel is anticipated to register the fastest growth during the forecast years owing to promising growth exhibited by e-commerce platforms, including Amazon, Walmart, Alibaba, and other such service providers
- Asia Pacific is expected to register the fastest growth during the forecast period, with brands rolling out sanitizers due to rising hygiene practices in countries including China and India
