Healthcare

Hand Sanitizer Market Size To Hit USD 3.45 Billion By 2032

The Hand Sanitizers Global Market Report 2023 by The Business Research Company, provides hand sanitizers market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Hand Sanitizers Global Market Report 2023, the global hand sanitizers market size will grow from $3.66 billion in 2022 to $4.02 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hand sanitizers is expected to grow from $6.16 billion in 2027 at a CAGR of 11.3%.

The coronavirus outbreak was a major driver for the growth of the hand sanitizers market during the period. Hygiene is an important part of staying safe from the protection of coronavirus and staying healthy. Therefore, the demand for sanitizers has grown tremendously post the COVID-19 outbreak globally since the outbreak of the virus in China as sanitizers are effective against coronavirus. The Center for Disease Control (CDC) recommends the use of alcohol-based hand sanitizers with greater than 60% ethanol or 70% isopropanol as the preferred form of hand hygiene in healthcare settings.

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The hand sanitizers market is segmented:

1) By Type: Quartenary Ammonium Compounds Based, Alcohol Based, Tridosan Based, Other Types

2) By Product: Gel, Foam, Liquid, Other Products

3) By Distribution Channel: Online Store, Pharmacy Store, Departmental Store, Other Distribution Channels

4) By End User: Hospitals, Restaurants, Schools, Household Purpose, Other End Users

The expansion of production capacities and the revamping of companies to meet the higher demand for hand sanitizers market is a major trend shaping the sanitizer industry. For instance, in March 2020, Bell International Laboratories, a vertically-integrated cosmetics manufacturer, announced the expansion of their production of alcohol-based hand sanitizers (gels and sprays) and is expected to produce 22 million units in April. Moreover, companies such as Radio Khaitan and Bacardi, manufacturers of alcoholic drinks, have turned into sanitant producers amid the COVID-19 outbreak. This step was taken for companies’ contributions during the coronavirus pandemic to meet the increasing demand for hand sanitizers for health and hygiene. Therefore, increasing production capacities and companies entering into the production of hand sanitizers is a key trend for the sanitizer market’s growth.

The hand sanitizers market report table of contents includes: