The Global Market for Hand Sanitizers is Projected to Reach US$2.0 Billion by 2024

Continuous Increase in Risks and Threats from Hand Hygiene Related Diseases and Infections Drives Demand for Hand Sanitizers, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Hand Sanitizers market. The global market for Hand Sanitizers is projected to reach US$2.0 billion by 2024, driven by consistently increasing threats and risks related to infections and hand-hygiene related disease outbreaks, rising focus on preventive healthcare, and growing consumer interest in eco-friendly green sanitizers.

Spreading of germs can be drastically reduced by frequently washing hands with regular soap and clean running water. However, clean water and soap are not always available especially when out of the house and while travelling. Adoption of hand sanitizers is driven by the convenience of cleansing hands without using water, coupled with the availability of the product in a wide variety of form factors such as gels, lotions, as well as dispenser formats, including portable bottles and sprays, and fixed manual and touch-free dispensers. The hand sanitizers market globally continues to maintain its momentum owing to the necessity of these products to ensure germ-free healthy hands, which represent the most exposed part of the body and the primary means of contacting infections and diseases. Contaminated hands are known to transmit pathogens such as bacteria and viruses in the body to cause Diarrhea, Pneumonia, Ebola, skin infections, intestinal worms, and eye infections. Superior attributes of hand sanitizers over conventional hand washing with soap and water that are driving its widespread adoption include lesser time in cleaning, more effective in killing hand microorganisms, mobile and portable in relation to sinks and basins, reduced bacterial count, relatively lesser irritation to skin, and improved skin texture, among others.

Healthy growth is projected for the market in the coming years driven by the growing prominence of hand hygiene practices in view of periodic outbreaks of H1N1 (swine flu), MRSA, Zika, SARS, and avian flu (bird flu) in recent years, as well as the Ebola virus disease (EVD) epidemic in West Africa. Endorsement of hand hygiene by global health authorities such as the WHO and the US CDC and widespread media coverage about disease outbreaks is playing a pivotal role in popularizing hand sanitizer products across the world benefiting market penetration. Steady launch of skin-safe, sustainable, and eco-friendly products with fragrances, moisturizers, and other functional benefits customized to attract the working class, baby boomers, and kids are further poised to benefit market prospects in the near term. Growing R&D focus on developing hand sanitizers that are effective against deadly human strains of enteroviruses and noroviruses and products with quaternary ammonium compounds and other advanced ingredients are expected to pave the way for widespread application of hand sanitizers. Despite the optimistic outlook, major challenges inhibiting market growth include the lack of adequate clinical evidence to validate effectiveness of hand sanitizers against all types of microbes; growing consumer fears about the toxicity of chemical ingredients, and health risks due to the overuse or abuse of hand sanitizers.

As stated by the new market research report on Hand Sanitizers, the United States represents the largest market worldwide, closely followed by Europe. Aging population and their vulnerability to various illnesses and infections, growing prominence of preventive healthcare amidst mounting healthcare costs, higher standards of personal and hand hygiene, the affordability factor, and steady launch of high performance and innovative solutions represent key factors driving growth in these matured markets. The unpenetrated and underpenetrated markets in Asia-Pacific, Middle East, and Africa, provide lucrative market growth opportunities. Rest of World comprising the Middle East and African regions represent the fastest growing market with a value CAGR of 12.4% over the analysis period.

Key players in the market include 3M Company, Best Sanitizers Inc., Byotrol plc, Chattem Inc., GOJO Industries Inc., Henkel AG & Co. KGaA, The Dial Corporation, Lion Corporation, Medline Industries Inc., Nice-Pak Products Inc., Procter & Gamble Co., Reckitt Benckiser Group plc, SC Johnson & Son Inc., Skinvisible Inc., The Clorox Company, Unilever plc, Vi-Jon Laboratories Inc., and Zep Inc., among others.

The research report titled “Hand Sanitizers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of Value (US$) and Volume (Units) for all major geographic markets, such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, Taiwan, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Rest of World.

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