DETAILED ANALYSIS OF HAND-SANITIZER MARKET THROUGH 2020-2027

DETAILED AND IN DEPTH ANALYSIS OF HAND SANITIZER MARKET THROUGH 2020-2027

As per various reports and publications, it was estimated that the hand sanitizer market is expected to rise from USD 1.4 billion in 2020, to USD2.16 billion by 2027.

INDUSTRY OVERVIEW-

The hand sanitizer market is growing from past 5-10 years and leads to increase in revenues of various hand-sanitizer producers. Recently, the global hand sanitizer market size valued at USD 1.99 billion. According to findings, it is found that around 80% of population prefers hand sanitizers than water and soap. Increasing awareness, and the steps taken by WHO and FDA have make people aware of hand sanitizers and risks with not maintaining hygiene level of hands. Furthermore, according to various publications, it is found that the hand sanitizers is expected to reduce absenteeism of students, workers etc due to illness by 15-20%. With product innovation and product developments, companies are introducing new organic and natural ingredients. As over the years the increase in diseases and infections have lead to increase in demand for hand sanitizers by USD 1.2  billion and have given many opportunities to producers and companies to earn revenue from hand sanitizers.

PRODUCT OVERVIEW-

Hand sanitizer is basically an alcohol based or no-alcoholic liquid, which is used to clean hands and kill the germs or bacteria’s and helps to maintain personal hygiene. It is available in various forms like, gel, liquid, foam and spray form and highly recommended and suggested in situations when water and soap is not available. It is also somehow, said that hand sanitizers are more effective and helpful in killing microorganisms, and much better than soap and water. Alcohol based hand sanitizer generally contains ethanol, isopropyl alcohol and non-alcoholic contains benzalkonium chloride or triclosan.  The hand sanitizer kills 99% of germs and keeps hand clean and germs free. The hand sanitizers are used in households, schools, restaurants, hospitals and also various other organizations.

KEY TRADERS-

The key players in hand sanitizer market are,

·         The Himalaya Drug Company

·         Reckitt Benckiser Group

·         GOJO Industries

·         Unilever

·         Vi-Jon

·         Best Sanitizers

Are day by day increasing their product line and aiming at providing new and developed hand sanitizers which are organic and natural so as to achieve highest market share and increase their revenues.

DISTRIBUTION CHANNEL OVERVIEW-

Hypermarket and supermarkets have largest share in hand sanitizer of 40%. However, this channel provides customers with a benefit to scan the product before buying. On the other hand the online channels hold share of around 20% in the India, China, Mexico and America, Germany, etc. The big online retailers like Amazon, Flipkart, and Alibaba etc. are adding and increasing their services and products in this area of hand sanitizers in the market.

INDUSTRY IN COVID-19 PANDEMIC

Now in this growing corona virus crisis across the globe and with the outbreak of global pandemic, the demand for hand sanitizers has increased rapidly and rises overall growth of hand-sanitizers by 20 times over the globe. But this pandemic also leads to shortage in of hand-sanitizers across the globe as it is now being used on daily basis in hospitals, offices and public places so as to maintain personal hygiene. Now there is a scarcity of hand sanitizers over the globe and the stocks are not available in supermarkets, stores, local pharmacies, or even Amazon and Flipkart.

Increasing in the cases of corona virus, the need and demand of hand sanitizers have also increased and now big amount of hand sanitizers is required in hospitals because the doctors, nurses, and ward boy are now increasingly using hand sanitizers to prevent the corona virus from patients. Due to this increasing demand the foam form of hand sanitizer is in big demand and it is anticipated that the foam segment will grow at the highest CAGR of 10% by 2020-2027.It is also estimated that the sales from gel form of hand sanitizers will also rise by 7.2% globally and also the demand for other forms whether spray or wipes will also grow and increase during the period 2020-2027.

The big hand sanitizer producers like The Himalaya Drug Company, Reckitt Benckiser Group, GOJO Industries, and Unilever have now started focusing on product innovations, mergers and acquisitions, more product development, partnership and collaborations. The Unilever company and The Himalaya Drug Company and Vi-Jon has announced that the company has increased its production capacity to meet an increase in demands of hand sanitizers and will launch new products, in wake of corona virus disease (COVID-19).Also, various new companies have launched their hand sanitizers and start trading in this market.

Now with this pandemic and the increase in corona virus cases over the globe, the experts and researchers have said that the hand sanitizers market is estimated to be rise by USD 2.16 billion by 2027 and also it is found that new and existing producers of hand sanitizers will launch new products which are natural and chemical free which are more effective than existing hand sanitizers.