Hand Sanitizer Market - Global Outlook and Forecast 2019-2024
The global hand sanitizer market is anticipated to generate revenues of approximately $3 billion by 2024, growing at a CAGR of more than 14% during 2018-2024.
The growing popularity of organic hand sanitizers, which are eco-friendly, skin-safe, and sustainable will revolutionize the global market over the next few years. The focus on continuous innovations in the formulations and dispenser designs such as touchless dispensers will help leading vendors gain a larger global market share.The global hand sanitizer market is driven by the adoption of a new formulation of products by manufacturers to provide an enhanced experience to consumers. The increase in per capita income and the number of dual-income households that results in increased spending on consumer goods, visiting restaurants, and attending concerts, will drive the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global hand sanitizer market by product type, end-user, distribution channel, and geography.
The study considers the present scenario of the global hand sanitizer market and its market dynamics for the period 2019−2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global hand sanitizer market.
Hand Sanitizer Market - Dynamics
The increasing incidences of healthcare-associated infection or HAIs are boosting the demand in the global hand sanitizer market. These infections acquired by patients in hospitals when they receive healthcare treatment for medical or surgical conditions. The extensive use of various types of medical devices such as catheters or ventilators used during a procedure such as surgery is increasing the risk of infections among patients in the global market.The use of online websites to provide home care tips using hand hygiene and their benefits to residential customers and commercial entities will drive the growth of the global market. Currently, hand sanitizers are majorly sold through retail chains such as Target, Walmart, Best Buy, Tesco, various grocery and department stores; vendors are still focusing on online strategies to boost sales across the world market.The development and manufacturing of flavored and organic hand sanitizing products will revolutionize the global hand sanitizer market. The leading vendors are investing in the development of varied variants of products with the aim to offer something unique to its consumers in the global market. The introduction of fragrances or scents for hand sanitizers will transform the market over the next few years.
Hand Sanitizer Market - Segmentation
This market research report includes a detailed segmentation of the market by product type, end-user type, distribution channel, and geography.The hand sanitizers market by product segmentis classified into gel-based, liquid, foam-based, hand wipes, and spray. Spray sanitizers are the fastest growing segment in the global market, at a CAGR of more than 16% during the forecast period. The sprays are aerosol and are extremely useful products used in various places in the global market. Gyms, fitness centers, yoga centers, and other health and wellness centers are the largest end-user of sprays in the global hand sanitizers market.
The end-user segment in the hand sanitizers marketis divided into healthcare, hospitality, residential, corporate, government & military, and education. Healthcare segment dominated the largest market share in 2018, growing at a CAGR of around 15% during the forecast period. The rising awareness about contagious infections and the importance of maintaining hand hygiene amongst individuals is driving the growth of this segment in the global market. The healthcare sector comprises places such as hospitals, nursing homes, clinics, physician’s office, doctor’s cabin, mobile ambulances, and others, which is driving the demand for hand sanitizers in the global market.The global hand sanitizer market by distribution channel is categorized into online and retail. Retail segment dominated more than 2/3rd of the total market share in 2018. The retail distribution channel includes supermarkets and hypermarkets, departmental stores and discounters, other retail stores, and drug stores. The increasing number of self-service grocery stores which have a wide variety of products for consumers to use on a day to day basis is propelling the growth of this segment in the global market.
Market Segmentation by Product Type
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