Sep 24, 2020 9:40 AM ET
iCrowd Newswire – Sep 24, 2020
Hand sanitizers are generally carried in gel or liquid forms to decrease or prevent the spread of infectious agents. Its formulation in alcohol-based solution is easy to use, and has become prominent as a device for personal hygiene. Growing awareness about microorganism promise to extend its application along with growing access to quality healthcare. The liquid, gel, and foam varieties of hand sanitizers diversity their use for end-players including households, restaurants, hospitals, among others. Hand sanitizers are placed in the list of ‘essential medicines’ by WHO, and this continues to expand their application in emerging nations. The relatively high-costs of hand sanitizers restraint the product expansion in the developing world. Prices of hand sanitizers can range from $.140 to 3.70 per bottle. The rising disposable income around the world, and growing demand for hand sanitizers due to incidences of Corona virus will boost their expansion in near future.
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According to latest market reports on March 16, 2020, the number deaths due to corona virus has reached 6500 worldwide. Additionally, in major cities like New York, schools, and restraints are being shut down to prevent the epidemic from spreading. The global emergency has been a boon for the hand sanitizer market. According to latest reports, the sales of hand sanitizers have multiplied by nearly 8 times in the US, due to growing precautions among consumers. The sales of hand sanitizers will likely continue as many households in emerging nations will be introduced to new products, and reevaluate the product proposition in the near future.
Massive demand for hand-sanitizers and growing awareness about personal hygiene will likely drive major growth for the global hand sanitizers market during the forecast period. The rising disposable income in emerging regions, growing demand for foam-based varieties, and product innovation will also remain key drivers of growth during the forecast period.
Gel-Based Sanitizers Will Lead Growth in the Hand Sanitizer Market
The gel-based sanitizers have conventionally promised strong growth for players in the hand-sanitizers market. The easy-to-use and increasingly dissolvable nature of the solution makes it safe to use for children and adults alike. Moreover, the increasing numbers of players in the hand sanitizers market will likely drive economies of scale in pricing, which likely result in further increase in demand for higher during the forecast period.
North America will continue Its Dominance during the Forecast Period
North America registered the highest total revenues in 2018. The region will likely continue its dominance during the forecast period, with rising demand for hand sanitizers due to the spread of corona virus. The region will compete closely with Europe, which promises a significant boost to adoption, thanks to stringent regulations regarding hygiene, and growing emphasis by hospitals to reduce Hospital Acquired Infections (HAIs). Asia Pacific region will witness tremendous growth, as the epidemic of Corona virus remains visible in key regions of China. Additionally, countries like India, Japan, among others have also reported similar instances. The large population in these regions, and the relatively limited spread of hand sanitizers will remain a prominent opportunity for players in the hand sanitizers market.
Browse the full “Hand Sanitizer Market by Product (Gel, Foam, Spray, and Others), Distribution Channel (Online Store, Departmental Store, Pharmacy Store, and Others), and End Use (Restaurants, Schools, Hospitals, Household Purpose, and Others) – Global Opportunity Analysis and Industry Forecast, 2017-2023.” Report at https://www.zionmarketresearch.com/report/hand-sanitizer-market
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Keywords: Hand Sanitizer Market