Hand Sanitizer Market Poised for Robust Value CAGR of Over 12.6% Through 2025
Growing awareness related to health and wellness products among consumers and rising inclination towards usage of sanitizer is anticipated to drive the market over the forecast period.
(firmenpresse) - The global hand sanitizer market size is anticipated to reach USD 5.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 12.6% over the forecast period. Growing awareness related to health and wellness products among consumers and rising inclination towards usage of sanitizer is anticipated to drive the market over the forecast period. Increasing prevalence of health issues due to rising communicable diseases is expected to increase the demand for hand sanitizers over the forecast period.
Hand hygiene forms the most important element of personal care in order to prevent infectious diseases, which is expected to act as a key factor for the global market. According to findings, 77% of the population prefer using hand sanitizer, while 23% claim not to use the product. 77% of population in favor of sanitizer usage comprise 37.5% of male users and 62.5% of female users. In addition, government promotes the usage of hand care products in order to increase awareness as well as avoid health issues among consumers.
For instance, the WHO and FDA have taken initiatives in order to make people aware about hand hygiene and the risks associated with not maintaining hygiene level of hands. In addition, according to studies, hand sanitizer minimizes the risk of gastrointestinal and respiratory infections among consumers who use the product. Moreover, this product contains ingredients that help in reducing skin dryness and irritation as compared to hand washing.
Furthermore, according to studies, classroom application of hand sanitizers is expected to reduce absenteeism of students due to illness by 20%. However, growth of the market can be hampered by the usage of chemical ingredients associated with the product causing allergies to some people. Rising influence of social media and online advertisements has exposed people to the recent trends of personal care and hygiene, which is accelerating the usage of hand sanitizers.
The gel product segment dominated the market in 2018. The extent of easy product availability and wider access to gel based products are some of the key factors driving the segment. The product results in decreased microbial populations in different ways from anywhere and everywhere. Moreover, inclusion of different flavors affecting the fragrance has occupied a prominent place in the global market. For instance, in 2017, Himalaya Wellness has launched new sanitizers, which are available in fruit flavors including strawberry, green apple, litchi, and orange.
Online channel of distribution is anticipated to expand at the fastest CAGR of 13.1% from 2019 - 2025. Online retailers including Amazon, Walmart, Alibaba, and other such service providers are adding to this category as a main focus area. This channel is widely used in developed countries such as U.S., Germany, and U.K. for purchasing consumer goods and unique personal care products on an increasing rate.
It is poised to emerge as a steady revenue generating source for these product categories over the forecast period. Promising growth exhibited by e-commerce platforms in emerging countries, including India and China, is compelling manufacturers to reorient their retail strategies for these countries.
North America dominated the global market, accounting for 32.2% of share in 2018. Wider product availability, along with increased penetration of online as well as offline channel, is a key factor driving the market in this region.
To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/hand-sanitizer-market
Further key findings from the report suggest:
By product, foam is expected to expand at a CAGR of 13.0% from 2019 to 2025
By distribution channel, the hypermarket and supermarket segment was valued at USD 1.0 billion in 2018
Asia Pacific is the fastest growing region, expanding at a CAGR of 13.3% from 2019 to 2025
Top players operating in the hand sanitizer market include Reckitt Benckiser Group plc; Procter & Gamble; The Himalaya Drug Company; GOJO Industries, Inc.; Henkel AG & Company; Unilever; Vi-Jon; and Chattem, Inc.
Grand View Research has segmented the global hand sanitizer market by product, distribution channel, and region:
Hand Sanitizer Product Outlook (Revenue, USD Million, 2015 - 2025)
Gel
Foam
Liquid
Others
Hand Sanitizer Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Hypermarket & Supermarket
Specialty Store
Drugs Store
Online
Hand Sanitizer Regional Outlook (Revenue, USD Million, 2015 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 16.09.2019 - 09:11 Uhr
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News-ID 598844
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