Hand sanitizer is an antiseptic solution, an alternative to soap and water. It is used to prevent the transmission of infection, which is majorly caused through hands, further causing several diseases such as nosocomial food-borne illness, and others. The rising number of covid-19 cases has enhanced the awareness towards the hand hygiene. Hand hygiene is one of the primary methods used to reduce the oral transmitted infections. Hand sanitizer is composed of nearly 60 percent alcohol and other ingredients such as fragrance, colorants, emulsifiers etc. The sanitizer’s effectiveness depends on the amount and type of alcohol used to produce the product.
According to the study, ‘Global Hand Sanitizer Market to reach USD 2.5 billion by 2026.’ It is estimated that there are some corporate which presently working more successfully for dominant the maximum market growth and obtaining the effective competitive edge while acquiring the effective profit making strategies and policies like joint ventures, mergers and acquisitions, partnership, amalgamation and product development includes Gojo Industry Inc., The Himalaya Drug Company, Procter and Gamble, Unilever Plc., Henkel Corporation, Vi-Jon Laboratories Inc., Reckitt Benckiser Group, Best Sanitizers Inc., Chattem Inc, Kutol Products Company. For instance, according to Worldometer, the numbers of confirmed Corona virus positive cases were 580 on 22 January 2020 and raised to 2.5 million number of positive corona virus cases on 21 April 2020, across the world. Furthermore, the introduction of merchandise and strategic alliance by various market players can produce a remunerative demand for this market. For instance, as per company’s news release on 26th March 2020, Procter & Gamble had announced as increase in manufacturing unit and will further donate face masks, hand sanitizer in response to corona. However, health hazardous associated with hand sanitizers is the major factor restraining the growth of global Hand Sanitizer market during the forecast period.
The regional analysis of global Hand Sanitizer market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the rising concern for health and hygiene maintenance by majority of the population in the region. Whereas, Asia-Pacific is additionally anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Furthermore, the rising awareness among the consumers regarding hand hygiene for the prevention from contagious diseases as well as the rising number of COVID-19 cases across the world are the few factors responsible for growth of the market over the forecast period. Consumer tendency towards health & wellness and product innovation like addition of fragrances in formulation of sanitizers are projected to increase the growth of the global hand sanitizer market. Furthermore, development in living standards, increase in health expenditure, increase in awareness about hand hygiene, and support from organization such as WHO, FDA, and others towards the requirement for sanitation augment the demand for hand sanitizers. Thus, it is predicted that the Global Hand Sanitizer Market will increase in forthcoming years over the coming future.
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Ankur Gupta, Head Marketing & Communications