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.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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