The global hand sanitizer market is set to surpass a value of ~US$ 1.4 Bn in 2024 and is anticipated to cross US$ ~2.8 Bn during the forecast period 2024-2030. The demand for gel-based sanitizer is on the rise as compared to foaming or spray sanitizer.
Thus, manufacturers are focusing on developing gel-based sanitizers as they are widely used in multiple end-use industries. With the increased penetration of the online sales channel, manufacturers are taking advantage of opportunities arising from e-commerce platforms.
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Further, prominent manufacturers are adding different fragrances to their products in order to increase the market share. However, due to uncertainties caused by the outbreak of coronavirus, the supply of hand sanitizer has been low, thereby forcing manufacturers to increase their production. The newest report by Fact.MR estimates that the instant hand sanitizer gel will account for more than 36% of the total global value share and is projected to grow at a value CAGR of 5.1% during the forecast period 2024-2030.
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Key Takeaways of Hand Sanitizer Market
- The global hand sanitizer market is expected to create an absolute $ opportunity of more than US$ 1.4 Bn and is anticipated to expand 2X from 2024 through 2030
- East Asia is projected to witness a higher growth rate as compared to the rest of the world in the markets, with a CAGR of 10.7% between 2024 and 2030
- Alcohol based sanitizer is projected to be valued at US$ ~2.3 Bn and is expected to be valued 2.7X more than non-alcohol based sanitizer
- Institutional end-use application is projected to hold maximum share in terms of value and is expected to create an absolute $ opportunity of more than ~US$ 890 Mn between 2024 & 2030
“The demand for hand sanitizers in the global market demonstrates prolific growth in the future. The rising need for clinical hand hygiene products owing to ongoing COVID-19 pandemic has compelled manufacturers to ramp up their production in order to cater to the demand for hand sanitizers globally” says the Fact.MR analyst
Partnerships to Remain a Prime Growth Lever
The key players in the hand sanitizer market are Kimberly-Clark, Henkel Corporation, Reckitt Benckiser, Unilever, Medline Industries, Himalaya Drug Company, GOJO Industries, Best Sanitizers Inc., 3M Company, among others. Prominent players are focusing on developing partnerships to expand their presence in global markets. For instance,
- In 2019, Reckitt Benckiser partnered with Veolia to drive a circular plastics economy. With this partnership, the company aims to make 100 percent of its plastic packaging recyclable.
- In 2018, GOJO Industries and Kimberly Clark Professional entered into a partnership to offer premium smart restroom management system. Through this partnership, both the companies will provide hand soaps and hand sanitizers to office buildings, airports and universities.
More Valuable Insights on Hand Sanitizer Market
Fact.MR, in its new offering, presents an unbiased analysis of the hand sanitizer market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2024-2030. The study divulges essential insights on the hand sanitizer market on the basis of product type (foaming hand sanitizers, foaming instant hand sanitizer, instant hand sanitizer gel, spray hand sanitizer), content (alcohol based (upto 60% content, above 60% content), non-alcohol based), active ingredient (ethanol or ethyl alcohol, benzalkonium chloride, isopropyl), packaging type (flip-flop bottles, pump bottles, dispensing packets, jars/cans), end use (institutional (hospitals & healthcare, offices/commercial, foodservice, food processing, schools & universities, manufacturing & industrial, hospitality, grocery, convenience store & retail, others), household), pack size (below 100 ml, 101 ml-300 ml, 301 ml -500 ml, 501 ml & above), sales channel (direct, indirect(hypermarkets/supermarkets, specialty stores, multi-brand stores, discount stores, independent departmental stores, online retailers, other sales channel) across seven major regions.
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