Hand sanitizer market size to exceed $3.6 Bn by 2026
Hand Sanitizer Market size is set to exceed USD 3.6 billion by 2026, according to a new research report by Global Market Insights, Inc.
Rising cases of COVID-19 disease is anticipated to boost the hand hygiene market growth. The outbreak has reinforced the significance of hand sanitizer and personal hygiene practices among consumers. The adoption of good hygiene practices will call for greater market demand.
Rise in COVID-19 pandemic globally coupled with surging positive cases and deaths due to spread of the disease has set an alarm for the healthcare givers. The infection spread through direct contact with infected person and indirect contact with surfaces in the immediate environment. As per the World Health Organization (WHO), many health experts and medical professionals have recommended the use of mask and hand sanitizer as the basic and only preventive measure available till date. Hand sanitizer is effective against coronavirus and helps to eradicate the virus and other germs. This has surged the demand for hand hygiene products in the market, thus propelling the hand sanitizer market growth.
According to this report, the liquid hand sanitizer industry was valued at around USD 380 million in 2019 and its market will experience a tremendous growth over the forecast period. The segment growth is attributable to the wide availability of high alcohol content liquid hand sanitizer that are used as hand rub in hospitals, clinics and research institutes for their anti-microbial activity.
The alcohol-based hand sanitizer market is projected to witness around -2.2% CAGR over 2020 to 2026. The segmental growth is owing to the ability of alcohol to destroy the outer covering of enveloped viruses such as coronavirus and many others. It is also effective against most of the pathogenic bacteria and germs. This will propel the alcohol-based sanitizer segment.
The online platform segment is projected to be valued at nearly USD 260 million in 2019. This robust segmental growth is due to change in consumer purchasing behavior and rising preference for e-commerce. Also, online platforms are accessible and introduce consumers to a wide range of hand hygiene products that usually are not available in neighborhood stores. This will drive the market growth.
Europe hand sanitizer market is valued over USD 415 million in 2019 and will harness a significant market share over the forecast period, says GMI report. The regional growth is owing to the increasing government spending on personal hygiene products for easy access to hand sanitizer to the public. Additionally, European regulatory bodies are providing funds to local hand sanitizer manufacturers to meet the growing demand. This will significantly drive the regional market growth.
