Hand sanitizer market to reach a market value of $13.9 Billion by 2027, Forecasts Market Decipher

“Hypermarkets and supermarkets have the largest share in hand sanitizer of 40%. However, this channel provides customers with a benefit to scan the product before buying. On the other hand, the online channels hold a share of around 20% in India, China, Mexico and America, Germany, etc. Big online retailers like Amazon, Flipkart, and Alibaba, etc. are adding and increasing their services and products in this area of hand sanitizers in the market.”

Richa Kumari

According to a recent report published by Market Decipher, titled, “Hand Sanitizer Market Revenue, Sales Volume & Trend Forecast Report, 2020 - 2026" the global hand sanitizer market was valued at around $3.1 million in 2020 and is projected to reach $13.9 billion by 2027, growing at a CAGR of 23% from 2020 to 2027.

The hand sanitizer market is growing from the past 5-10 years and leads to an increase in revenues of various hand-sanitizer producers. Recently, the global hand sanitizer market size valued at USD 1.99 billion. According to findings, it is found that around 80% of the population prefers hand sanitizers than water and soap. Increasing awareness and the steps taken by WHO and FDA have made people aware of hand sanitizers and risks with not maintaining the hygiene level of hands. Furthermore, according to various publications, it is found that hand sanitizers are expected to reduce the absenteeism of students, workers, etc due to illness by 15-20%. With product innovation and product developments, companies are introducing new organic and natural ingredients. Over the years the increase in diseases and infections has to lead to an increase in demand for hand sanitizers by USD 1.2 billion and has given many opportunities to producers and companies to earn revenue from hand sanitizers.

Hand sanitizer is an alcohol-based or non-alcoholic liquid, which is used to clean hands and kill the germs or bacteria and helps to maintain personal hygiene. It is available in various forms like gel, liquid, foam, and spray form and highly recommended and suggested in situations when water and soap are not available. It is also somehow, said that hand sanitizers are more effective and helpful in killing microorganisms, and much better than soap and water. Alcohol-based hand sanitizer generally contains ethanol, isopropyl alcohol and non-alcoholic contains benzalkonium chloride or triclosan. The hand sanitizer kills 99% of germs and keeps hand clean and germs free. Hand sanitizers are used in households, schools, restaurants, hospitals, and also various other organizations.

Benefits of hand sanitizer:
• Takes less time to clean the hand
• Quickly kills the germs and microorganisms on hand
• More accessible than sinks
• Less irritating to the skin
• It can be used anytime and anywhere.

The key players in the hand sanitizer market are,
• The Himalaya Drug Company
• Reckitt Benckiser Group
• GOJO Industries
• Unilever
• Vi-Jon
• Best Sanitizers

Now in this growing coronavirus crisis across the globe and with the outbreak of a global pandemic, the demand for hand sanitizers has increased rapidly and rises overall growth of hand-sanitizers by 20 times over the globe. But this pandemic also leads to a shortage of hand-sanitizers across the globe as it is now being used daily in hospitals, offices and public places to maintain personal hygiene. Now there is a scarcity of hand sanitizers over the globe and the stocks are not available in supermarkets, stores, local pharmacies, or even Amazon and Flipkart.

Increasing in the cases of coronavirus, the need and demand of hand sanitizers have also increased and now a big amount of hand sanitizers is required in hospitals because the doctors, nurses, and ward boy are now increasingly using hand sanitizers to prevent the coronavirus from patients. Due to this increasing demand, the foam form of hand sanitizer is in big demand and it is anticipated that the foam segment will grow at the highest CAGR of 10% by 2020-2027. It is also estimated that the sales from gel form of hand sanitizers will also rise by 7.2% globally and also the demand for other forms whether spray or wipes will also grow and increase during the period 2020-2027.

The leading hand sanitizer producers like The Himalaya Drug Company, Reckitt Benckiser Group, GOJO Industries, and Unilever have now started focusing on product innovations, mergers, and acquisitions, more product development, partnership, and collaborations. The Unilever company and The Himalaya Drug Company and Vi-Jon have announced that the company has increased its production capacity to meet an increase in demands of hand sanitizers and will launch new products, in wake of coronavirus disease (COVID-19). Also, various new companies have launched their hand sanitizers and start trading in this market.