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Hand Sanitizer Market Growing at a CAGR of 7.8% during the Forecast Period 2020-2025

iCrowdNewswire Jul 17, 2020 11:00 AM ET

Hand Sanitizer Market size is projected to cross $2 billion by 2025, growing at a CAGR of 7.8% during the forecast period 2020-2025. Hand Sanitizer is an antiseptic disinfectant available in the form of a liquid, gel, foam and many others. It is said to be more effective than soaps due to its ability to eliminate most microorganisms. Public awareness campaigns by global health authorities such as the WHO (World Health Organization) also play a significant role in promoting the use of hand sanitizers. Increasing consumer awareness about hygiene coupled with such government initiatives are driving the hand sanitizer market.

Product Form- Segment Analysis
Based on the Product Form, hand sanitizer is segmented into foam, gel, wipes, spray and others. Gel based sanitizer is dominating the market in 2019 by product form owing to the ease of handling and easy removal of germs. It is also preferred by environment conscious consumers who want to conserve water.
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Application- Segment Analysis
Based on the Application, hand sanitizer market is segmented into domestic/household, healthcare, educational institutions, restaurants, public and private organizations and others. Domestic/household segment is projected to be the fastest growing segment with a CAGR of 9.38% during the forecast period 2020-2025. This is owing to rising awareness among domestic consumers on the need of sanitizing to reduce the risk of diseases. There has been a shift in the use of these products from industrial application to household use.
Geography – Segment Analysis
North America dominates the hand sanitizer market and is generating a revenue of $492.8 million in 2019. The high use of sanitizers among the population here and in sectors such as hospitals and restaurants are contributing to the dominance of this region.
However, Asia-Pacific is estimated to grow faster with a CAGR of 12.60% during the forecast period. These countries are having rising health awareness and thus demand for such products are rising.
Drivers –Hand Sanitizer Market 
  • Growing Market for surgical procedures particularly in APAC region
The number of surgical procedures is high in APAC, driven by the growing number of cosmetic surgeries being performed. Also, rising obesity has also resulted in an increase in the number of surgeries. Due to the increase in number of surgeries, the need for sanitizers in healthcare industries is on the rise.
  • Rising Incidence of Chronic Diseases
Rising incidence of chronic diseases are driving the demand for hand sanitizers. According to WHO, the number of people who die from chronic diseases and infections are high. The increasing risk of hospital acquired infections and the rise in chronic diseases has led to growing focus on methods to reduce them. This has led to an increase in the usage of hand sanitizer which in turn drives the growth of this market.
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Challenges – Hand Sanitizer Market 
  • Stringent government hand sanitizer regulations
The FDA in U.S. has pressurized manufacturers to submit data regarding the long term health impact of hand sanitizers, particularly hormonal effects and contributors to anti-biotic resistant bacteria, to ascertain the safety of these hand sanitizer products. These regulations are to ensure the safety of consumers by regulating the chemicals being used in hand sanitizers.
 
Hand Sanitizer Industry Outlook
Product launches, Merger & Acquisitions, Joint ventures and R&D activities are some key strategies adopted by players in the Hand Sanitizer Market. Hand sanitizer top 10 companies are 3M Company, Best Sanitizers Inc., Chattem Inc., Gojo industries INC., Henkel AG & Company, KGaA, Kutol Products Company, Inc, Lion Corporation, Medline Industries, Inc., Nice-Pak Products, Inc., The Procter & Gamble Company, Reckitt Benckiser Group, Skinvisible Inc., Unilever Plc, Vi-Jon Laboratories among others.

Key Takeaways

  • North America accounts for largest share accounting for 34% of the hand sanitizer market.
  • However, APAC region is forecast to have the fastest growth with a CAGR of 12.6%.
  • Disease outbreak and public health awareness campaigns are likely to increase the demand for hand sanitizers.
  • Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the hand sanitizer market report.

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Keywords: Hand Sanitizer market, Hand Sanitizer market size, Hand Sanitizer industry, Hand Sanitizer market share, Hand Sanitizer top 10 companies, Hand Sanitizer market report, Hand Sanitizer industry outlook

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