According to the latest report published by Variant Market Research, the Global Hand Sanitizer Market size is projected to reach $2,010 million by 2025 from $999 million in 2017. In this report, hand sanitizer market forecast says that the global market is growing at a CAGR of 9.1% from 2017 to 2025. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 10.3% and 9.5%, respectively, during the forecast period. Hand sanitizer is used to avoid infection transmission. It is an alternative to water and soap for washing hands. The increasing health expenditure along with changing lifestyle has led its high use in hospitals, restaurants, and schools, among others.
"Hand Sanitizer Market (By Product: Foam, Gel, Spray, and Other Products; By Distribution Channel: Departmental Store, Online Store, Pharmacy Store, and Other Distribution Channels; By End Use: Hospitals, Restaurants, Schools, Household Purpose, and Other End Uses; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
Changing lifestyle & rising health expenditure drives the global hand sanitizer market
The global hand sanitizer market trend includes changing lifestyle &rising health expenditure, consumers growing importance towards health & wellness, advancement in hand sanitizers. Though, health hazards associated with use of hand sanitizers might act as a roadblock for the global Hand Sanitizer market growth. Moreover, growing popularity of online shoppingis likely to offer worthwhile opportunities for the market in the coming years.
Product, distribution channel, end use, and geography are the classification of the global hand sanitizer market. The product segment is categorized into foam, gel, spray, and other products.Departmental store, online store, pharmacy store, and other distribution channelsare the segregation of distribution channelsegment. End use segment is sub-segmented into hospitals, restaurants, schools, household purpose, and other end uses.
By geography, global hand sanitizer market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, Australia, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Gel, by product accounted for the largest share of the hand sanitizer market in 2017
On the basis of product, gel segment accounted for the major market share in 2017.Gel based hand sanitizers are easily available in the market as well astake lesser time to efficientlyeliminate germs compared to other sanitizers, thisis driving the growth of the gel segment of the global hand sanitizer market.
Departmental store dominated the global hand sanitizer market in 2017
Departmental store, by distribution channel generated the maximum revenue in 2016, owing tocustomers preference to buy from departmental stores like super markets and hypermarkets. In addition, attractive discounts provided by vendors drive the growth of departmental stores.
North America dominated the global market with highest market share over the forecast period
North America dominated the global hand sanitizer market with largest market share of 32.31% in 2017 and expected to continue the trend during the forecasted period.The growth is attributed to high hygiene standards among the U.S. people. Furthermore, Asia-Pacific is expected to grow at the highest CAGRof 10.3% over the forecast period, due to growing health &wellness concerns among the people in the region.
Key players are offering innovative products and services to increase their hand sanitizer market share. Main players competing in the market include Gojo Industry Inc.,The Himalaya Drug Company, Reckitt Benckiser Group, Procter and Gamble, Henkel Corporation, Unilever, Chattem Inc., Kutol Products Company, Best Sanitizers Inc., and Vi-Jon Laboratories Inc., among others.
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