The hand sanitizer market is poised to hit USD 1.8 billion by 2023, with projections indicating a surge to USD 3.7 billion by 2033, marking a steady compound annual growth rate (CAGR) of 7.2% from 2023 to 2033.
A hand sanitizer, commonly referred to as a hand rub, is an antiseptic solution applied to the hands to eliminate disease-causing germs. It is typically found in foam, gel, and liquid forms, comprising alcohol, water, emollients, polyacrylates, artificial and natural colors, and fragrances.
They expect that revenue from the hand sanitizer market will boom as their increased sanitary awareness increases. Not only was the illness expensive to treat, but also had a high death rate. Hand sanitizing and wearing face masks are two key methods of preventing virus transmission and reducing disease severity.
Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-707
Increasing COVID-19 Infection Globally
Rising global awareness of cleanliness and personal hygiene is anticipated to raise demand for hand sanitizer, an antiseptic alternative to soap and water. It aids in the prevention of most of contagious diseases, such as COVID-19, norovirus, influenza, meningitis, hand, foot, and mouth disease, whooping cough, and methicillin-resistant Staphylococcus aureus (MRSA).
As people become more aware of how COVID-19 affects the population, they are more concerned about their own health and cleanliness. In the aftermath of the ongoing pandemic crisis, the hand sanitizer business has seen considerable developments worldwide.
However, due to supply chain interruptions and rising supply-demand gaps around the world, the sector is currently facing substantial problems in scaling up manufacturing capacity to assist relieve the supply constraint. To alleviate the supply constraint, numerous corporations have begun to use their mass production capabilities to produce these products for their home markets.
In response to the COVID-19 pandemic, innovators, and entrepreneurs all around the world are revamping their business models. Breweries and distilleries are shifting their focus from spirits to hand sanitizers in the craft cocktail industry.
Key Takeaways
- The hand sanitizer market is expected to record a CAGR of 7.2% from 2023 to 2033.
- The hand sanitizer market in India is primarily driven by the rising trend of aromatic hand sanitizers with natural and eco-friendly chemicals to maintain hand hygiene.
- The hand sanitizer market is dominated by North America region.
- Asia Pacific is the most rapidly rising region.
Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/707
Prominent Players in the market for Hand Sanitizer are –
- Reckitt Benckiser Group PLC
- GOJO Industries Inc.
- Procter & Gamble Company
- Unilever PLC
- Henkel Corporation
- Vi-Jon Laboratories, Inc.
- The Himalaya Drug Company
- Paul Hartmann AG
- Kutol Products Company
- Sanofi S.A
- Saraya Co. Ltd.
- Seatex Ltd.
- Others
Key Development
- In response to the COVID-19 pandemic, Honeywell announced an increase in its manufacturing activities at two chemical manufacturing plants in April 2020 to produce and provide hand sanitizer to government agencies. The company’s facilities in Muskegon, Michigan, Seelze, and Germany manufactured these products for government agencies and institutions.
- SC Johnson, a global manufacturer of household and professional cleaning and disinfecting products, converted a line designated for new product testing in April 2020 to produce up to 75,000 bottles of hand sanitizer per month for health workers, first responders, and the company’s own production employees.
- In May 2020, Doctor Shultz’s joined together with the clothing company Ilthy to produce and supply face masks and hand sanitizer. Ahava, released of 3.4 oz. FDA-approved gel hand sanitizer in September 2020. Using skincare skills to minimize bacteria, resulting in less infection. During the COVID-19 outbreak, product advancements are likely to meet the demand for hand sanitizers.
- On March 22, 2022, Dabur Ltd., an Indian multinational consumer products firm, declared that it will stop producing sanitizers owing to shrinking demand, while Radico Khaitan, a liquor powerhouse, reduced pure alcohol manufacturing to supply sanitizer companies.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
