Hand Sanitizer Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Hand Sanitizer Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Hand Sanitizer Market size is expected to grow from USD 1.44 billion in 2023 to USD 1.76 billion by 2028, at a CAGR of 4.06% during the forecast period (2023-2028). The pandemic positively impacted the sales of hand sanitizers across the globe. Health and hygiene became the top concerns among individuals, and anti-infection skincare solutions ramped up the demand. The World Health Organization (WHO) recommended the use of hand sanitizers along with regular hand washing to prevent the spread of the virus. Thus, these efforts propelled market demand. Consumers are increasingly becoming aware of the importance and significance of hand hygiene, which is connected to their overall health and hygiene. The use of hand sanitizers is required to prevent transmissible diseases, which is expected to boost market growth. Furthermore, the convenience and portability offered by hand sanitizers over hand washes and their effectiveness in preventing multiple diseases are drawing a substantial consumer base, thereby augmenting sales of hand sanitizers. To avoid the rough skin caused by alcohol-based hand sanitizers, manufacturers are incorporating natural ingredients such as aloe vera into their products. Prominent market players are promoting the use of hand sanitizers via advertisements, promotional campaigns, and media coverage. This is helping them to bring in more consumers and enhance their market share in the global market.Hand Sanitizer Market TrendsIncreased Attention Toward Hand Hygiene The global outbreak of coronavirus has had a significant impact on consumer behavior and has prompted people to practice better personal hygiene, particularly hand hygiene. According to Worldometer, as of February 23, 2022, the coronavirus had infected almost 43 million people globally, with 6.5 million active cases and the number of deaths reaching 0.59 million. The most severely affected countries include the United States, France, Russia, and the United Kingdom. Thus, the increasing number of deaths caused by the virus triggered an alarming response from consumers, with increased attention regarding hand hygiene as a preventive measure against contracting the infection. Moreover, the usage of hand sanitizers is recommended by the World Health Organization, the Centers for Disease Control and Prevention, and doctors worldwide, who claim that the use of alcohol-based hand rub is one of the most effective precautions observed against the virus. This factor is currently driving market growth.North America Holds the Largest Market Share Consumers in the North American region are becoming increasingly aware of hand hygiene and are making greater use of hand sanitizers. They are spending greatly on personal care and hygiene products. Furthermore, regulatory bodies such as the Food and Drug Administration of the United States and the World Health Organization (WHO) are raising awareness through campaigns to increase the use of hand sanitizers even among the region's smaller consumers.This is anticipated to fuel the market demand and growth of hand sanitizers in the coming years. The region is witnessing a high penetration of market players, wherein major players are focusing on innovation in terms of the form and quality of hand sanitizers, along with the shape and size of cleaning solutions, to offer effective germ protection against certain diseases to consumers. Manufacturers in the United States are launching production lines for hand sanitizers to supplement their segments’ sales. The local players are also introducing new products to fulfill the rising demand, owing to the spread of COVID-19 across the region. Due to high price sensitivity, a large number of private-label players are introducing hand sanitizers at lower prices, thereby gaining considerable market shares.Hand Sanitizer Industry Overview The major players in the market include Reckitt Benckiser Group, Unilever PLC, and GOJO Industries Inc. The majority of the emerging market players are concentrating their efforts on strategic acquisitions of mature and sophisticated market leaders. Growing market companies can diversify their products while also gaining access to consistent cash flow and future growth potential by expanding their product portfolios. The big corporations are expanding their product lines in response to the customer shift towards hand sanitizers produced with natural ingredients. Manufacturers are concentrating their efforts on introducing newer beneficial substances into disinfection solutions, such as aloe vera and tulsi, to provide protective hygiene solutions. Companies are also concentrating on investing in several types of skin washes, such as foam, gel, liquid, and sprays.Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.