Global Hand Sanitizer Market: Overview
The growing focus on healthcare and hygiene has been the foremost driver of demand within the global hand sanitizer market. The presence of a seamless healthcare sector that focuses on informing and educating the masses has a created humongous opportunity for market growth. Several people count on sanitizers for their daily hygiene needs, and this trend shall pave way for new technologies in the market. In this context, it is legit to expect that the global hand sanitizer market would grow at an unprecedented pace in the forthcoming years. The use hand sanitizers by youngsters is a key dynamic of market growth.
In this review, Transparency Market Research brings out the significance of key factors responsible for the growth of the global hand sanitizers market. The total volume of revenues within the hand sanitizers market is slated to touch new heights, and supermarkets are glutted with these products. Stockpiling of hand sanitizers has become a global trend over the past few decades, and this has created havoc across supermarkets. A number of retail outlets have run out of hand sanitizers, and this trend portrays the buying patterns of the consumers in times of this pandemic.
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Global Hand Sanitizer Market: Notable Developments
As the demand for hand sanitizers increases, manufacturers have to look for quick-win solutions to deal with market conditions. Several countries have gone under lockdown which has affected supply chains and procurement avenues in the market. Therefore, vendors in the global hand sanitizers market are looking for alternate supply chains that can help in procuring raw materials and supplying finished products. The ability of hand sanitizer manufacturers to capitalise on the unmet market needs could help them earn humongous revenues.
Manufacturers are relying on strengthening their digital core to enhance their production and supply standards. The development of a digital supply network that connects manufacturers, suppliers, and stakeholders has helped market vendors in reconciling their growth dynamics. Furthermore, investments provided by government entities to accelerate the process of manufacturing has also benefitted the market vendors.
Key Market Players:
- Procter & Gamble
- GOJO Industries, Inc.
- The Himalaya Drug Company
- Henkel AG & Company
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Global Hand Sanitizer Market: Growth Drivers
- Outbreak of the Corona Virus Pandemic
The alarming rate of the spread of the corona virus, also known as Covid-19, has created a large playfield of opportunities for market growth and maturity. The past few weeks have witnessed unexpectedly high demand for hand sanitizers as panic related to the virus rises. A large population of people has begun stockpiling hand sanitizers, toilet paper, and several other important items. This trend has put manufacturers of hand sanitizers under tremendous pressure to meet the humongous demand. There is little contention about the growing value of the hand sanitizers market. The trend of panic buying, as a result of the outbreak of the covid-19 pandemic, has affected the inventories of manufacturers of sanitizers.
- Recommendations and Guidelines Provided by WHO
Healthcare experts and the WHO have released guidelines to prevent people from becoming a means to communicate or contract the virus. These guidelines have been published across public portals, online channels, and several other platforms. The government is also making ardent efforts to popularise hand sanitizers in times of this pandemic. Use of hand sanitizers that contain at least 70% alcohol are attracting huge demand from the masses in recent times. Moreover, the recommendation of the WHO to constantly sanitize the hands after touching untidy surfaces has given a thrust to the growth of the global market. The overall value of the global hand sanitizers market would increase in the times to follow.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
