LONDON--(BUSINESS WIRE)--According to Technavio Research Report "Hand Sanitizer Market by distribution channel (offline distribution and online distribution), product (gel, foam, spray, and wipes), end-user (commercial, residential, and institutional) and geographic regions (North America, Europe, APAC, South America, and MEA) is witnessed to grow USD 590.7 million, at a CAGR of 9% from 2019 to 2023.
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Global hand sanitizer market: Growing popularity of hand sanitizers as a preventive measure
The sale of hand sanitizers is expected to rise considerably in the forthcoming years owing to its increased adoption as a measure to prevent the spread of diseases such as the flu. With the rapid widespread of diseases, consumers are increasingly taking precautions to protect themselves against diseases. This has encouraged several organizations to join hands and equip recreation centers and public libraries with hand sanitizing stations. The outburst of communicable diseases in emerging economies is likely to create a huge market for the global hand sanitizer market over the next few years.
“Product innovations by market players are helping them to gain a competitive edge over other counterparts in the market. Market players are experimenting with their products in terms of design and product ingredients. Some of the emerging products focus on containing natural ingredients. The vendors are also increasingly inclining toward making user-friendly packaging to cater to a larger target audience,” says a senior research analyst at Technavio.
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Global hand sanitizer market: Segmentation analysis
This market research report segments the global hand sanitizer market by distribution channel (offline distribution and online distribution), product (gel, foam, spray, and wipes), end-user (commercial, residential, and institutional) and geographic regions (North America, Europe, APAC, South America, and MEA).
North America led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market growth in North America can be attributed to the increasing use of hand sanitizers as a preventive measure to curtail the spread of contagious conditions such as the flu.
Global hand sanitizer market: Increase in product launches
Vendors in the hand sanitizer market are adopting innovative marketing strategies and campaigns to launch new products that cater to the evolving end-user requirements. Companies are launching organic and fair-trade products containing organic glycerine which help naturally moisturize the skin. Growing awareness among the consumers with respect to the importance of sanitization has led market players to develop products such as wet wipes which deliver seven-day active protection on hard surfaces with a single application. Thus, the rising number of new product launches, and product innovations are expected to boost the hand sanitizer market growth during the forecast period.
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- 3M Co.
- GOJO Industries Inc.
- Reckitt Benckiser Group Plc
- Unilever Group
- Vi-Jon Inc.
Browse Industries Reports @ Household & Personal Products
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