According to a new market report published by Credence Research “Global Hand Sanitizers MarketGrowth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global hand sanitizers market is expected to reach over US$ 2,900 Mn by 2025, expanding at a CAGR of 12.9% from 2017 to 2025.
On the basis of product type, the global hand sanitizer market is segmented into gel, foam, spray, liquid, others (sanitizing hand wipes, etc.). Among these, gel segment accounted for the largest segment by value and accounted for more than 35% share of the global market in 2016. Based on end use, the hand sanitizer market is categorized into hospitals, hotels and restaurants, household purpose and others (corporates, schools etc.). In 2016, hospital segment accounted for largest segment for hand sanitizers as hand sanitizers are used by physicians, patients and also the staff and visitors to prevent the spreading of contagious diseases.
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The hand sanitizer market can be segmented based on sales channel as, department stores, supermarkets and hyper markets, convenience stores, e-tailers and retail pharmacy stores. The supermarket and hypermarket segment accounted for the largest revenue share in the global hand sanitizers market by sale channel in 2016. Owing to shifting trends towards modern retailing by end users.
For the purpose of this study, the global hand sanitizer market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In base year 2016, North America was observed as the largest market for hand sanitizers followed by Europe and Asia Pacific. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant industrial growth.
Furthermore, the companies are focusing on expanding their business network, across regional markets. They are strengthening their market penetration by offering wide product range in the hand sanitizer segment. Due to relatively short lifetime of hand sanitizers, the need for new sanitizers is more. 3M Company, Chattem, Inc., Procter & Gamble (P&G) Company, Reckitt Benckiser Group Plc., Unilever Plc., GOJO Industries, Inc., Bath & Body Works, LLC., Best Sanitizers, Inc., Deb Group Ltd., Henkel Group, Kimberly-Clark Corporation., Medline Industries, Inc., Dial Corporation., etc. are few key manufacturers in global hand sanitizer market.
– Product differentiation in terms of formulations and aesthetic bottle design: Key business strategy
– Focus on developing skin-safe hand sanitizer gels
– Growing application base (institutions, military, supermarkets, offices)
– The campaigns and promotional efforts have positioned hand sanitizer gels as first line preventive measure against infection
– Heightened fear of contamination experienced during recent viral epidemics driving demand for hand sanitizer gels