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Global Hand Sanitizers Market Outlook - The Global Market is Forecast to Reach $3.34 billion in 2023 at CAGR of 3.21%

Research and Markets
·3-min read

Dublin, Dec. 24, 2020 (GLOBE NEWSWIRE) -- The "Hand Sanitizers Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.

The global hand sanitizers market is expected to grow from $1.52 billion in 2019 and to $3.04 billion in 2020. The markable growth is mainly due to the COVID-19 outbreak and the surge in the demand for hand sanitizers as a measure to contain it. The market is then expected to stabilize and reach $3.34 billion in 2023 at CAGR of 3.21%.

The expansion of production capacities and revamp of companies to meet the higher demand for hand Sanitizers is a major trend shaping the Sanitizers industry. Moreover, companies such as Radio Khaitan and Bacardi, manufacturers of alcoholic drinks have turned into Sanitizer producer amid the COVID-19 outbreak. This step was taken for companies' contributions during the pandemic in order 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 Sanitizers market's growth.

Health hazards associated with occupational exposure of chemicals used in Sanitizers manufacturing are expected to limit the growth of the Sanitizers market. According to Reuters's health news on chemicals Sanitizers and disinfectants linked to thyroid cancer, the workers who are exposed to chemicals or biocides used in the production of Sanitizers, disinfectants, and deodorizers are likely to diagnose with a 65% higher risk of thyroid cancer. Thus, the occupational risk of exposure to chemicals during the production of chemical-based Sanitizers is forecast to restrict the development of the Sanitizers market over the forecast period.

The coronavirus outbreak is a major driver for the growth of sanitizers market during the period. Hygiene is an important part of safety against the protection of coronavirus and to stay healthy. Therefore the demand for sanitizers has grown tremendously post the COVID-19 outbreak globally. 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. According to the U.S. Food & Drug Administration, more than 1,500 additional manufacturers have registered with the agency to meet the increased demand for hand sanitizers. Hence, the COVID-19 outbreak coupled with growing concerns for hygiene is anticipated to continue to escalate the demand for sanitizers in years to come.

Markets Covered:

1) By Type: Quartenary Ammonium Compounds Based; Alcohol Based; Tridosan Based; Others
2) By Product: Gel; Foam; Liquid; Others

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Companies Mentioned

  • Reckitt Benckiser Group

  • The Himalaya Drug Company

  • Procter and Gamble

  • Gojo Industry Inc.

  • Henkel Corporation

  • Unilever

  • Vi-Jon Laboratories Inc.

  • Chattem Inc.

  • Best Sanitizers Inc.

  • Kutol Products Company

  • Skinvisible Inc.

  • Nice-Pak Products, Inc.

  • Lion Corporation

  • Medline Industries, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/m92caq

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