Rising Trend Towards Personal Wellbeing
The rising prominence of being well and healthy is anticipated to drive the hand sanitizer market growth over the coming years. Consumer masses around the globe are moving towards products which are handy to use and easy to carry. Changing lifestyle have pushed the consumers towards products which offer naturally derived ingredients. As awareness related to environment enhances, young consumers with greater knowledge of wellness demanding for higher level of transparency in terms of ingredients used in making sanitizing products.
Consumer survey around the globe suggest rising number of customers which prefer to pay premium price for the naturally inclusive brand. This trend is anticipated to gain traction over the coming years as awareness among the consumer masses increases. Many key vendors of the industry are stepping towards capitalizing on the aforementioned trend. For instance, Indian FMCG giant Email Limited recently launched a natural hand sanitizer product line under it's flagship brand BoroPlus.
COVID 19 Boosting Market Growth
Outbreak of COVID 19 has boosted the demand for hand sanitizers around the globe. To break the chain of infected personnels, many global health experts have suggested the use of sanitizing medium and social distancing. This has prompted the usage of hand sanitizers around the globe.
In terms of supply, both online platforms and conventional sales channels have reported greater demand for hygiene related products. Online platforms are recording all time high sales for hand hygiene products. Similarly, surge in hand sanitizer demand from retail stores has also observed significant uptick. Sudden burst in demand for hygiene related products have positively influenced the sales volume of industry participants. For instance, the U.S. based CleanWell company has reported that the sales of disinfectants and hygiene related products up by nearly 400%.
On the basis of product, market is segmented into gel, foam, liquid, and others. Among this category, gel and liquid segment is likely to observe most promising growth over the forecast period. The aforementioned category offers greater efficiency in terms of sanitization.
The thin and watery characteristic of gel based products offer convenience in terms of spread and penetration within the skin. Another prominent factor promoting growth of this market segment is the availability of product in various fragrances. Liquid bases sanitizing products is likely to observe greater penetration in wide level sanitizing campaigns. Easy discharge of liquid medium through different dispensing equipment is projected to promote its usage in government related operations.
Distribution Channel Outlook
On the basis of distribution channel, market is segmented into hypermarket & supermarket, speciallty store, drug store, and online platforms. Within this segment, hypermarket & supermarket category is likely to dominate the market share over the coming years. ThIs category of distribution channel is considered as customer centric as it offers consumers to have greater transparency.
Online platforms are projected to observe highest growth over the forecast period. Increasing penetration of e-commerce platforms in countries such as India, Thailand, and other developing countries is likely to bolster the sales of the industry over the predicted timeline. In addition, as the world moves towards digitilization, online platforms are projected to offer promising medium to tap potential customers. Thus, the segment is likely to witness highest growth over the coming years.
On the basis of end-use, market is segmented into government and personal. Among this, government related end-use category is expected to observe greater growth over the short term period due to the outbreak of corona, Governments around the globe are working towards various sanitization campaigns which are likely to drive the usage of product.
Personal end-use of product is likely to dominate the market share over the forecast period. Recent pandemic of COVID 19 has largely influenced the consumption of the product. In addition, due to the global pandemic consumers around the globe have understood the significance of personal hygiene. This trend is likely to continue and support the growth of hand sanitizers over the coming years.
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The key vendors of the industry include Reckitt Benckiser Group plc, GOJO Industries, Unilever, Procter & Gamble, Vi-Jon, Himalaya Drug Company, Emami Limited, CleanWell, Chattem Inc., Kutol, Arrow Solutions and Best Sanitizer Inc.
The vendors of the industry are investing in research & development in order to enhance product efficiency and serve end-use point of applications. For instance, in 2018, Arrow Solutions which is a UK based company launched a foam sanitizer product line which is free from alcohol and is designed for frequent usage.
Hand Sanitizer is a chemical formulation either available in liquid,foam, and gel and is primarily used to reduce infectious agents or pathogens from hand. It is also known as handrub and antiseptic solution.
Global Hand Sanitizer Market Segmentation
By Distribution Channel
- Hypermarket & Supermarket
- Specialty Store
- Drug Store
By End Users
Research Scope and Deliverable's
- Overview & Executive Summary
- Market Drivers, Trends, Challenges and Opportunities
- Market Size and Forecast Projections
- Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
- Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
- Porter’s Five Force Analysis
Key Questions Answered in the Hand Sanitizer Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2019-2027?
- Which region would have a high demand for the product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?