The hand sanitizer market is anticipated to reach US$ 1.8 billion by 2023. It is expected to reach US$ 3.7 billion by 2033, with a CAGR of 7.2% from 2023 to 2033.
Healthcare costs are also increasing, and this too is expected to make people much more conscious about sanitation. Being hygienic will also help prevent infection and contamination from any microbe in the body.
They expect that revenue from the hand sanitizer market will boom as their increased sanitary awareness increases. Not only was the illness expensive to treat, but also had a high death rate. Hand sanitizing and wearing face masks are two key methods of preventing virus transmission and reducing disease severity.
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Increasing COVID-19 Infection Globally
Rising global awareness of cleanliness and personal hygiene is anticipated to raise demand for hand sanitizer, an antiseptic alternative to soap and water. It aids in the prevention of most of contagious diseases, such as COVID-19, norovirus, influenza, meningitis, hand, foot, and mouth disease, whooping cough, and methicillin-resistant Staphylococcus aureus (MRSA).
As people become more aware of how COVID-19 affects the population, they are more concerned about their own health and cleanliness. In the aftermath of the ongoing pandemic crisis, the hand sanitizer business has seen considerable developments worldwide.
However, due to supply chain interruptions and rising supply-demand gaps around the world, the sector is currently facing substantial problems in scaling up manufacturing capacity to assist relieve the supply constraint. To alleviate the supply constraint, numerous corporations have begun to use their mass production capabilities to produce these products for their home markets.
In response to the COVID-19 pandemic, innovators, and entrepreneurs all around the world are revamping their business models. Breweries and distilleries are shifting their focus from spirits to hand sanitizers in the craft cocktail industry.
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Key Takeaways
- The hand sanitizer market is expected to record a CAGR of 7.2% from 2023 to 2033.
- The hand sanitizer market in India is primarily driven by the rising trend of aromatic hand sanitizers with natural and eco-friendly chemicals to maintain hand hygiene.
- The hand sanitizer market is dominated by North America region.
- Asia Pacific is the most rapidly rising region.
Key Development
- In response to the COVID-19 pandemic, Honeywell announced an increase in its manufacturing activities at two chemical manufacturing plants in April 2020 to produce and provide hand sanitizer to government agencies. The company’s facilities in Muskegon, Michigan, Seelze, and Germany manufactured these products for government agencies and institutions.
- SC Johnson, a global manufacturer of household and professional cleaning and disinfecting products, converted a line designated for new product testing in April 2020 to produce up to 75,000 bottles of hand sanitizer per month for health workers, first responders, and the company’s own production employees.
- In May 2020, Doctor Shultz’s joined together with the clothing company Ilthy to produce and supply face masks and hand sanitizer. Ahava, released of 3.4 oz. FDA-approved gel hand sanitizer in September 2020. Using skincare skills to minimize bacteria, resulting in less infection. During the COVID-19 outbreak, product advancements are likely to meet the demand for hand sanitizers.
- On March 22, 2022, Dabur Ltd., an Indian multinational consumer products firm, declared that it will stop producing sanitizers owing to shrinking demand, while Radico Khaitan, a liquor powerhouse, reduced pure alcohol manufacturing to supply sanitizer companies.
Hand Sanitizer Market Key Segment
By Product Type:
- Foaming Hand Sanitizers
- Foaming Instant Hand Sanitizer
- Instant Hand Sanitizer Gel
- Spray Hand Sanitizer
By Content:
- Alcohol Based
- Non-Alcohol Based
By Active Ingredient:
- Ethyl Alcohol
- Benzalkonium Chloride
- Isopropyl
By Packaging Type:
- Flip Flop Bottles
- Pump Bottles
- Dispensing Packets
- Jars/Cans
By End Use:
- Institutional
- Hospitals & Healthcare
- Offices/Commercial
- Foodservice
- Food Processing
- Schools & Universities
- Manufacturing & Industrial
- Hospitality
- Grocery, Convenience Store & Retail
- Others
- Household
By Pack Size:
- Below 100 ml
- 101 ml-300 ml
- 301 ml -500 ml
- 501 m & Above
By Sales Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Specialty Stores
- Multi-Brand Stores
- Discount Stores
- Independent Departmental Stores
- Online Retailers
- Other Sales Channel
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