USD 6.02 billion
Report ID:
SQMIG30L2121 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
95
|Figures:
76
Hand Sanitizer Market size was valued at USD 6.43 Billion in 2023 and is poised to grow from USD 6.87 Billion in 2024 to USD 12.41 Billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).
Hand sanitizing products are skin care products that are designed to clean and protect the palms and fingers against disease-causing germs and viruses. People's increasing awareness of hygiene and cleaning practices is driving up demand for skin sanitization solutions all around the globe. Manufacturers are concentrating their efforts on introducing newer beneficial substances into disinfection solutions, such as Aloe Vera, Tea oil, and others, in order to give more protective hygiene solutions. In order to attract customers, corporations focus on inventing several types of skin washes, such as foam, gel, liquid, and sprays. Merger and acquisition strategies as well as television and online marketing strategies, are used by prominent companies associated with skin cleansing accessories, such as Unilever and P&G, for brand building and business expansion; which encourages the growth of the market during the forecast period.
US Hand Sanitizer Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.02 billion
Largest Segment
Gel/Liquid
Fastest Growth
Spray
Growth Rate
6.8% CAGR
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The Global Hand Sanitizer Market is segmented based on the product, Type, Form and region. Based on product, the market is segmented into Foaming hand sanitizers, foaming instant hand sanitizers, instant hand sanitizer gels, and spray hand sanitizers. Based on the Type, the Global Hand Sanitizer Market is segmented as Alcohol-Based, Non-Alcohol Based. Based on the Form, the Global Hand Sanitizer Market is segmented as Gel, Liquid and Foam. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Hand Sanitizer Market Analysis by Product Type
In 2021, the gel/ liquid segment of the market is projected to hold the most lucrative share of more than 30% in the market. The segmental growth of the market is attributed to the wide availability of gel/ liquid-based hand sanitizers. These gel/ liquid hand sanitizers take less time to efficiently eliminate germs than spray and other sanitizers. Foam-based hand sanitizers, on the other hand, are predicted to increase at the fastest rate due to the fact that they stick to hands soon after application. Furthermore, foam pumps are smaller than gel or spray pumps, making them a more practical option for customers.
Hand Sanitizer Market Analysis by Distribution Channel
In 2021, the hypermarkets/supermarkets segment of the market is projected to hold the most lucrative share of more than 30% in the market. The segmental growth of the market is attributed to the availability of a large choice of hand washing products from numerous brands in a single store, as well as the discounts and deals offered by these stores on bulk purchases. Furthermore, the pharmacy stores segment is predicted to account for a significant share of the market, owing to doctors' rising recommendations to take the proper kind of medicine, which is influencing consumers to buy medicines and other personal hygiene items from pharmacies. However, due to rising internet penetration and the burgeoning online shopping and e-commerce industry, the online retail channels segment is predicted to increase at the quickest rate during the forecasted period.
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The Global Hand Sanitizer Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share in the market. The regional market is likely to be driven by the majority of the population in the region's growing concern for health and hygiene. The market in the region is growing due to increasing product availability and increased penetration of both online and offline channels. There is biggest penetration of several types of hand sanitizers, such as gel based, foam based, spray, and wipes, is shown in this region, which has a larger number of market players. Furthermore, the US controls the industry, with customers preferring to spend more on personal care and hygiene items.
Furthermore, the Asia-Pacific region is also likely to hold a significant share in the market during the forecast period. The regional growth of the market is attributed to the increased awareness about hygiene among consumers. As a result, a variety of new and unique personal care and hygiene products are available on the market, with a focus on user convenience. The growing dominance of online shopping in the region has changed market growth and is projected to stimulate demand for hand sanitizers in the upcoming years. For an instance, online retailers like as Amazon, Flipkart, Grofers, and other providers sell a variety of hand hygiene items.
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Hand Sanitizer Market Driver
Hand Sanitizer Market Restraint
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Hand Sanitizer Market Top Players Company Profiles
Hand Sanitizer Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, among the product type, the gel/liquid segment is projected to hold a dominating share during the period. Among the distribution channel, hypermarkets/ supermarkets segment is projected to hold a dominating share during the period.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 6.02 billion |
Market size value in 2031 | USD 11.62 billion |
Growth Rate | 6.8% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Hand Sanitizer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hand Sanitizer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hand Sanitizer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hand Sanitizer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Hand Sanitizer Market size was valued at USD 6.02 billion in 2019 and is poised to grow from USD 6.43 billion in 2023 to USD 11.62 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
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Report ID: SQMIG30L2121
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