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Global Hand Sanitizer Market to Reach US$ 1.8 Billion by 2024, Propelled by Growing Awareness About Basic Hand Hygiene

According to the latest report by IMARC Group, titled “Hand Sanitizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global hand sanitizer market size reached US$ 1.1 Billion in 2018. Hand sanitizer is an antimicrobial agent that is applied to the hands to kill or permanently inactivate common pathogens such as bacteria and fungi. It has a self-drying formulation, owing to which it is often preferred by consumers over washing hands with soap and water. Hand sanitizer is composed of ethyl or isopropyl alcohol and hydrogen peroxide, along with fragrances, water and glycerin. These ingredients help in retaining the natural oil and maintaining the moisture of the skin, as well as preventing the transmission of harmful microorganisms which can cause diseases. Owing to these benefits, hand sanitizers are gaining immense popularity across the globe.

Global Hand Sanitizer Market Trends:

Improving living standards and rising per capita incomes have encouraged consumers to shift toward health and wellness products, such as hand sanitizer, as opposed to traditional counterparts, including handwash or soap. Furthermore, based on the hand sanitizer market research, the demand for hand sanitizers is also being stimulated by several healthcare initiatives and awareness programs undertaken by governments and national health authorities of various countries. For instance, organizational initiatives such as First Global Patient Safety Challenge by World Health Organization (WHO) promotes ‘clean care is safer care’ to spread awareness about basic hand hygiene across the world. Moreover, evolving consumer preferences are prompting the manufacturers to introduce hand sanitizers infused with non-alcoholic and natural ingredients such as lemon, vegetable glycerin, aloe vera gel, and essential oils. Market players have also come up with innovative ready-to-use packagings such as tubes, pumps, sprays, and pocket-size squeeze bottles, which have made the product user-friendly. Looking forward, the market value is projected to reach US$ 1.8 Billion by 2024, expanding at a CAGR of 9% during 2019-2024.

Market Summary:

  • On the basis of the product form, the market has been segmented into gel, foam, liquid, spray and others.
  • The market has been categorized on the basis of the product type into alcohol- and non-alcohol-based hand sanitizers.
  • Based on the distribution channel, the market has been segregated into pharmacy departmental, online and other stores.
  • The market has been classified on the basis of the end use into restaurants, schools, hospitals, household purposes and others.
  • Region-wise, the market has been divided into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been analyzed with the presence of several key players operating in the market. Some of the global hand sanitizer market competitors include Reckitt Benckiser Group PLC, The Himalaya Drug Company, Procter and Gamble Company, Henkel AG & Company, KGaA , Unilever NV/PLC., Vi-Jon Laboratories Inc., Gojo Industry Inc., Chattem Inc., Kutol Products Company, Inc., Henkel North American Consumer Goods and 3M Company.

 

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