With skyrocketing counts of COVID-19 cases, several countries across the globe are facing a public health crisis. The novel coronavirus is a newly discovered infectious disease that transmits rapidly through direct contact within the patient’s immediate environment. This life-threatening disease has created a need for disinfection, which in turn driving demand for hand sanitizers. According to Polaris Market Research, the global hand sanitizer market is estimated to cross $17.2 Billion by 2026 and is anticipated to register a healthy CAGR of 31.4% during the forecast period of 2020 to 2026.
Hand sanitizers are gel, liquid, or foam anti-microbial products effective for killing disease-causing pathogens such as bacteria, viruses, and fungi. Most hand sanitizers contain alcohol as their most prominent and active ingredient. Hand sanitizers have proved significance over repeated hand washing using soaps and hence gaining demand across the globe.
In light of the present situation, regulatory bodies such World Health Organization (WHO) recommended the use of skin hygiene products to remain safe from infections. This recommendation has led to a tremendous surge in the consumption of hand sanitizers.
Key Findings for Hand Sanitizer Market
- Online retailers segment are expected to witness the fastest growth rate on account of the availability of multiple brands, door step delivery of the product, and cost-effective product offerings.
- Non-alcohol based hand sanitizers will be preferred by consumers as they do not dry out hands and non-damaging to surfaces.
- In the coming years, the Asia Pacific and North America are projected to grow as the most lucrative markets for hand sanitizer, owing to increasing promotional activities by players.
- A large consumer base coupled with the growing prevalence of coronavirus respiratory infections is the primary factor for hand sanitizer market growth.
- Analysis of Polaris Market Research suggests that the spike in growth of the hand sanitizer market will exist post-COVIS-19 provided the hand sanitization has become a new normal for people.
- Some of the leading manufacturers of hand sanitizers are Gojo Industries, Nice Pak Products, Unilever, Godrej Consumer Product Limited, Edgewell Personal Care, The Himalaya Drug Company, etc.
As per the study, the hand sanitizer market is expected to grow substantially post-COVID-19 pandemic. This pandemic and post-pandemic phase will be a lucrative opportunity for prominent players in the hand sanitizer market to take the most out of it by bringing more effective and budgetary products to attract consumers.