The global hand sanitizer market size is expected to reach USD 1.96 billion by 2026, growing at a CAGR of 6.2 percent during the forecast period, according to Fortune Business insights. A rising global preference for alcohol-based sanitizers will emerge as a key growth driver for this market. According to the Centers for Disease Control and Prevention (CDC), these sanitizers with alcohol levels ranging from 60% to 69% are more efficient than alcohol-free sanitizers in killing all types of bacteria. Furthermore, the Food and Drug Administration (FDA) has discovered that alcohol-based sanitizers, due to their better germ-killing power, can help to prevent the spread of flu-like diseases. Furthermore, a rising desire for hand sanitizers made from natural components has prompted numerous firms to develop products infused with Aloe Vera and tea. As a result, new growth paths for this sector have opened up. The following companies are profiled in this Hand Sanitizer Market Report:
- SC Johnson & Son, Inc. is an acronym for SC Johnson & Son, Inc. (U.S.)
- Best Sanitizers, Inc. (U.S.)
- Bacardi Limited is a company that manufactures and sells (Bermuda)
- Himalaya Global Holdings Ltd. (India)
- Inc. Gojo Industry (U.S.)
- Procter & Gamble (P&G) (U.S.)
- CVS Pharmacy (U.S.)
- Unilever Plc (U.K.)
- Henkel AG & Co. KGaA (Germany)
- Reckitt Benckiser (U.K.)
The rapid spread of the Coronavirus Pandemic will hasten market growth
The unusual spread of COVID-19 globally has moved the global attention to basic hygiene and sanitation practices, significantly boosting hand sanitizer market growth. Because the COVID-19 illness is fatal and spreads predominantly through human-to-human contact, hand sanitizers are thought to have a critical role in reinforcing such activities. Because hands are often the initial point of contact between two or more persons, hand cleanliness has become an essential strategy in the battle against this illness.
The necessity of these sanitizers in the current situation is heightened by the lack of viable treatment alternatives and a coronavirus vaccination. As a result, the World Health Organization (WHO) has vigorously promoted alcohol-based hand cleaners, particularly among frontline healthcare workers. While frequent hand washing with soap and water for 20 seconds is helpful, they may not always be accessible, in which case these sanitizers might serve as an adequate substitute.
North America will maintain a commanding position in the market, but Europe will expand rapidly
North America is well-positioned to dominate the hand sanitizer market share in the following years, with a market size of USD 464.51 million in 2018. Rising public awareness of personal hygiene, which is now being pushed by the COVID-19 epidemic, will boost the market in 2020. Furthermore, the United States currently has the most significant number of COVID-19 cases and deaths globally, emphasizing the need to adhere to specific personal hygiene measures.
The coronavirus epidemic has decimated Europe, creating a significant demand for hand sanitizers. The Asia-Pacific market is predicted to develop quickly due to rising demand for improved skin and other personal care products in India and China. Furthermore, efforts implemented by local governments in India to promote cleanliness awareness at the school level would be beneficial in the long term for this market.
Key players will launch products aimed at COVID-19
As a result of the COVID-19 epidemic, the demand for hand sanitizers has skyrocketed in the last several months. This has prompted Fast Moving Consumer Goods (FMCG) businesses to create hygiene products designed to combat pandemic spread while adhering to WHO criteria.
Important Industry Developments
April 2020: Nycil, a Zydus-owned talc brand, enters the sanitizer sector by developing its hand sanitizer product to meet the coronavirus outbreak's growing demand for hand cleansers. The company's focus will remain on germ prevention for the entire family, and the product will be an addition to the Heinz line. The Himachal Pradesh-based CSIR-Institute of Himalayan Bioresource Technology (CSIR-IHBT) developed a unique hand sanitizer made of alcohol, active tea components, and natural tastes in March 2020. The product contained no synthetic ingredients and was created under WHO recommendations.
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