Hand Sanitizers Market Worth $2.76 Billion by 2025: Exclusive Report by Infinium Global Research
PUNE, India, May 15, 2020 /PRNewswire/ -- A recent report by Infinium Global Research on "Hand Sanitizers Market (By Product - Gel, Foam, Spray and Other Product Type; By Distribution Channel - Departmental Store, Pharmacy Store, Online Channels and Other Distribution Channels; By End User - Restaurants, Household Purpose, Schools, Hospitals and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The reported study estimated the Hand Sanitizers Market to reach up to USD 2762.1 million in 2025, with a compound annual growth rate of 11.5% over the forecast period (2019-2025). The report provides a comprehensive research study based on survey conducted to analyze the buying patterns, consumer behavior and factors affecting buying decisions. The report also provides insights into the marketing strategies and steps taken by the companies to retain their market position in the local and/or global market. The study also provides insights into the factors affecting the buyer decisions, consumer preferences, and the demographic factors promoting the growth of the products of hand sanitizers market.
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Gel Hand Sanitizers are Preferred More than Other Types
The report includes a detailed study on the consumer preference towards various products in the market. According to the survey results, majority of the people in the world preferred their hand sanitizers in gel form as compared to other forms of hand sanitizers. The major factor driving the preference of gel hand sanitizers is the wide range of products available in the stores to choose from. Majority of the companies in the market offer a broad range of gel hand sanitizers with different fragrances, ingredients, and packaging. The large variety of products available in the market offers a greater choice to the consumers encouraging them to buy one of them. Moreover, the ease of use and higher effectiveness of the gel hand sanitizers make them more preferable than other forms.
Key Players in the Global Hand Sanitizers Market are Focusing on New Product Launch and Mergers & Acquisitions
The global hand sanitizer market is highly competitive and consolidated in nature. The market is characterized by the presence of bigger multinational players along with a few smaller and local players. Companies including Procter & Gamble, Unilever, and Reckitt Benckiser hold a large share in the global hand sanitizer market. The major players in the market are focusing on developing new products to satisfy the changing needs of the consumers. For instance, in July 2019, Reckitt Benckiser launched a new range of hand hygiene products under one of its key brand, Dettol. Products named, 'Dettol co-created with moms', is the new range of products are claimed to be chemical free. While in October 2019, Cintas Corporation collaborated with Germ-X. The partnership includes the incorporation of the Germ-X sanitizers in all of Cintas rental sanitizer dispensers, bolstering the availability of the same. Moreover, new players are entering into the market owing to the growing pressure of supply chain due to the coronavirus outbreak.
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Hand Sanitizers Market to Grow on the Backdrop of Coronavirus Outbreak
The coronavirus or COVID-19 outbreak started in the Wuhan district of China in December 2019 and till the mid of March 2020, the disease spread throughout the world. As of March 2020, COVID-19 had affected nearly 800 thousand people across the world and killed more than 38,500 people. The coronavirus disease mainly spreads by getting in contact with an infected person or by touching a surface that has the virus on it. Social distancing and maintaining proper hand hygiene are the only known preventive measures to avoid coronavirus. Washing and sanitizing hands on regular intervals provide protection from coronavirus and other diseases. The use of hand sanitizers as prevention from coronavirus is augmenting the demand for hand sanitizers.
Moreover, the other factors including rising awareness regarding hand hygiene, better convenience, better availability and a number of initiatives from health organizations to spread hygiene awareness are expected to boost the growth of the global hand sanitizer market. Furthermore, increasing use of online channels to promote hand hygiene and related products is providing favorable business opportunities to the key market players. The rise in the penetration of social media offer a broader audience for promoting various initiatives and products. This, in turn, is anticipated to boost the sale of hand sanitizers.
Departmental Store to Augment the Sales of Hand Sanitizers
The departmental store segment among the distribution channel generated highest revenue in the global hand sanitizer market in 2019. The domination of the segment attributed to the better convenience and enhanced customer experience offered by the departmental stores. In the departmental stores, customers can browse through the aisles of racks to find the desired products. The departmental stores also offer a wide range of products to customers from which they can choose whichever product that suits their needs. Moreover, the increase in the number of new stores opening, particularly in the developing nations is driving the segment in the global hand sanitizer market.
North America Generated Highest Revenue in the Global Hand Sanitizers Market
In terms of geography, the North America region generated the highest revenue in the global hand sanitizer market in 2018. The domination of the North America region in the global market attributes to higher awareness regarding hand hygiene and the availability of a number of products in the market. Moreover, the presence of strong online as well as offline distribution channels augments the sale of hand sanitizers in North America. Additionally, the higher willingness of people to spend more on hygiene products is further fueling the market. Furthermore, the presence of major market players such as Merck, and Pfizer in the region is expected to boost the demand for hand sanitizers in North America.
This Report Offers Detailed Insights of the Market Including-
1. Comprehensive analysis of the factors promoting the growth in the hand sanitizer market
2. Survey results for
a. Consumer preferences
b. Buying patterns
c. Spending habits
d. Purchase decision making
e. Preferred distribution channels
f. Choice of alternatives in case of unavailability of the product
g. Consumer feedback
h. Social listening
3. Competitive landscape in the leading country markets in the world
4. Worldwide competitive landscape and market trends in the hand sanitizer market
5. Analysis of the worldwide market using analytical tools such as porter five forces, market drivers and opportunity analysis, product position matrix
Browse in-depth TOC on "Hand Sanitizers Market"
Research Methodology and Data Collection Methods for the Report
Infinium Global Research published reports are based on extensive primary and secondary research methods. The research begins with extensive exploration through secondary sources followed by primary research. With these research methods we are able to estimate the market size of the hand sanitizer market, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
The secondary research primarily involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. While the primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents. The primary respondents generally include key opinion leaders associated with Infinium Global Research, internal and external subject matter experts, and professionals and participants from LinkedIn, Hoovers, Factiva and bloggers.
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