May 15, 2020 6:21 PM ET
iCrowd Newswire – May 15, 2020
The growing demand of hand sanitizers due to the spread of coronavirus in some countries is projected to escalate the hand sanitizer market at a CAGR of 40.0%
Latest market study on “Global Hand Sanitizer Market to 2027 – Analysis and Forecasts by Type (Alcoholic, Quaternary Ammonia, Triclosan ); by Product form (Foam Sanitizers, Gel Sanitizers, Wipes , Spray sanitizers); by Application (Hospitals, Restaurants, Educational Institutions, Household, and Others); by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, Others). The global hand sanitizer market is accounted to US$ 2,421.1 Mn in 2018 and is expected to grow at a CAGR of 40.0% during the forecast period 2019 – 2027, to account to 39,223.1 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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Hand sanitizers, also known by names such as hand rub and hand antiseptics, are used to neutralize germs and microbes on the surface of the skin. They are frequently used in occupational and healthcare settings when the risk of transmitting infectious pathogens is much higher. The efficacy of hand sanitizers is dependent on various factors such as the quantity of hand sanitizer used, frequency of use, duration of exposure. However, hand sanitizers do not serve as replacements for thorough hand washing. They are rather thought to bring users some of the benefits of handwashing when it is not practical to wash hands. The increasing awareness about hand hygiene, increase in living standard, and rising concern about one’s wellness has generated significant demand for hand sanitizers. The use of hand sanitizers has become ubiquitous in a number of public settings, including gyms, restaurants, hospitals, factories, offices, malls, movie theaters, etc. The prevalent use of hand sanitizers is likely to generate significant opportunities for the hand sanitizer industry. Hand sanitizers are easy to use and can be carried anywhere, making popular among school-going children. The healthcare sector is a significantly large consumer of hand sanitizers and generates significant revenue for the hand sanitizer industries. The frequent outbreaks of cases of flu and other contagious diseases are one of the factors behind the growing demand for hand sanitizer products.
In 2018, under the type segment, the alcoholic segment accounted for the largest share in the global hand sanitizer market. Alcohol-based hand sanitizers typically contain some combination of isopropyl alcohol, ethanol (ethyl alcohol), or n-propanol. This type of hand sanitizer is generally more effective at killing microorganisms and better tolerated than soap and water. Products that contain from 60% to 95% alcohol are most effective. Hand sanitizer with alcohol works against a variety of microorganisms but not spores. Some products contain compounds such as glycerol to prevent drying of the skin. Since the 1980s, alcohol-based hand sanitizer has been commonly used in Europe. The alcohol-based hand sanitizer is on the list of the World Health Organization’s Essential Medicines, as the safest and most effective medicines needed to protect health from germs. For health care organizations like hospitals and clinics, optimum alcohol concentration to kill bacteria is 70% to 95%. Hand sanitizers with alcohol concentrations as low as 40% are available in American stores, according to researchers at East Tennessee State University. In the United States, the US Food and Drug Administration (FDA) controls anti-microbial hand soaps and sanitizers as the over-the-counter drugs (OTC) because they are intended for topical anti-microbial use to prevent disease in humans.
Hand sanitizer is a liquid that is used to decrease infectious agents present on the hands and palm. Different forms of hand sanitizers are available in the market, including foam sanitizers, gel sanitizers, wipes, and spray sanitizers. Both the alcohol-based and non-alcoholic hand sanitizers are offered by most of the market players. These sanitizers kill 99.9% of most common germs and keep the hands clean. Some of the manufacturers are offering foam sanitizers coupled with gel sanitizers that contain vitamin E, and shea extract, which kills most of the common germs & leaves hands feeling soft & clean. The gel-based hand sanitizer, coupled with alcohol content kills most common germs that may cause illness. Gel sanitizers have wider applications in hospitals, restaurants, educational institutions, household, shopping malls, movie theatres, and others. Hand sanitizing wipes are also known as antibacterial wipes, which are meant to kill 99 percent of germs, and most of these wipes contain alcohol.
The market for global hand sanitizer is concentrated with some very well-established players. Some of the key players in the global hand sanitizer market include Henkel AG & Company, KGAA, Unilever, The Himalayan Drug Company, Ecolab, 3M, Godrej Industries Limited, GOJO Industries, Inc., Procter & Gamble
Reckitt Benckiser Group plc. , S. C. Johnson & Son, Inc., and among others.
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