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Hand Sanitizer Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hand sanitizer products market was valued at USD 2.41 billion in 2021 and is expected to grow at a CAGR of 8.2% from 2022 to 2030. The market is mainly driven by the growing awareness of hygiene and the rising prevalence of infectious diseases across the world. The rapid spread of COVID-19 has further propelled the demand for hand sanitizers due to stringent lockdowns and social distancing measures implemented in many countries.
Furthermore, the increasing preference for natural and organic hand sanitizers is driving the demand for the market. For instance, in April 2021, The Himalaya Drug Company announced the launch of a natural hand sanitizer, ‘PureHands’, which is enriched with natural ingredients like aloe vera, hrivera, and natural fragrances. The product is said to be safe for children and is a paraben-free, alcohol-free, and triclosan-free formulation.
The growing popularity of portable hand sanitizers is also propelling the demand for the market. Companies are launching pocket-sized hand sanitizers that can be carried easily and used on the go. For instance, in October 2020, Lifebuoy launched a pocket-sized hand sanitizer, ‘Lifebuoy Total 10 Hand Sanitizer’, which is a WHO-recommended hand sanitizer.
The rising number of retail stores and supermarkets is further augmenting the market growth. The increasing presence of e-commerce stores is also driving the market growth. Moreover, the growing promotional activities by key players are providing an impetus to the market growth. For instance, in October 2020, Dettol launched a campaign titled ‘Banega Swasth India’ to spread awareness about hand hygiene. Furthermore, the increasing demand from emerging economies such as India and China is expected to drive the demand for hand sanitizers in the coming years.
Product Insights
The hand sanitizer market is estimated to reach USD 9.3 billion by 2022, growing at a CAGR of 5.6%. The increasing awareness about the importance of hand hygiene among individuals is the major driving factor for the market growth. The increasing preference for hand sanitizer among individuals is also attributed to the increasing incidence of various health-related issues, such as flu, cold, and other respiratory infections. Furthermore, the increasing preference for hand sanitizer among employers is also contributing to the market growth.
The hand sanitizer market is segmented on the basis of product type and application. The hand sanitizer market is dominated by foams and gels segment, followed by aerosols and wipes segment. The foams and gels segment is expected to account for a share of around 62.5% in 2022. The aerosols and wipes segment is expected to account for around 37.5% in 2022.
Distribution Channel Insights
The hand sanitizer products market is expected to grow at a CAGR of 7.1% during the forecast period. This growth is mainly attributed to the increasing prevalence of infection and antibioticresistant strains of bacteria. The increasing awareness about the importance of hand hygiene is also fueling the growth of the hand sanitizer products market.
The hand sanitizer products market is segmented into alcohol-based, gel, and solution type. The alcohol-based hand sanitizer products segment is expected to lead the market in terms of revenue during the forecast period. This is mainly attributed to the increasing awareness about the dangers of hand-borne infection and the need to reduce the spread of infection.
The gel hand sanitizer products segment is expected to grow at a higher CAGR of 7.7% during the forecast period. This growth is mainly attributed to the increasing demand for hand sanitizer products that are gentle on the skin. The solution type hand sanitizer products segment is expected to grow at a slower CAGR of 5.1% during the forecast period. This growth is mainly attributed to the increasing demand for hand sanitizer products that are easy to apply.
Type Insights
The hand sanitizer market is anticipated to grow at a CAGR of 7.5% over the forecast period. The increasing awareness about the importance of hand hygiene and the increasing demand from the healthcare sector are key factors driving the market. Additionally, the increasing trend of health and fitness among the population is propelling the demand for hand sanitizers.
For instance, Nike, a brand of Nike, Inc., has launched a campaign called “Just Breathe” to promote hand hygiene and awareness about the importance of hand sanitizers. These activities make brands more visible and attract new customers.
Regional Insights
Asia Pacific is expected to account for the largest share of the market in 2022. This is due to the increasing awareness about hygiene and the increasing incidence of infections in this region. Over the past few years, there has been a shift in consumer preference towards hand sanitizers, as they offer a range of benefits, such as preventing the spread of infection and reducing the time required for hand hygiene. For instance, in September 2021, Noxon, a global health and wellness company, launched an anti-bacterial hand sanitizer in the Asia Pacific.
North America is expected to witness the fastest growth in the coming years. This is due to the increasing incidence of infections and the increasing demand for hand sanitizers. In addition, the increasing incidence of hand-to-mouth disease (HMD) among school children is also expected to drive the growth of the market. For instance, in December 2021, Johnson & Johnson launched Quench, a hand sanitizer for children in the U.S.
Europe is expected to witness the second-fastest growth in the coming years. This is due to the increasing incidence of infections and the increasing demand for hand sanitizers. In addition, the increasing incidence of HMD among school children is also expected to drive the growth of the market. For instance, in December 2021, Johnson & Johnson launched Quench, a hand sanitizer for children in the U.S.
Financial Projections
In this part of the hand sanitizer products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your hand sanitizer products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a hand sanitizer products business comes from sales of the product. Here you will find a list with a description of each of them and other possible sources of profit such as advertising, licensing, and franchising.
Projecting Expenses
In this section, all the regular expenses related to keeping the hand sanitizer products business running will be described. The list of operating expenses includes sales commissions, advertising, shipping & handling, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the hand sanitizer products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In May 2022, Gillette Corporation launched a hand sanitizer product line designed to provide a better sense of cleaning.
– In June 2022, L’Oreal SA released a hand sanitizer product line designed to provide a better sense of scent.
– In June 2022, Colgate-Palmolive Company released a hand sanitizer product line designed to provide a better sense of feel.
– In September 2022, Johnson & Johnson released a hand sanitizer product line designed to provide a better sense of vision.
Some of the prominent players in the hand sanitizer products market include:
– Colgate-Palmolive Company
– L’Oréal SA
– Unilever plc
– Procter & Gamble Co.
– The Coca-Cola Company
– PepsiCo, Inc.
– Johnson & Johnson
– Reckitt Benckiser Group plc
– Kimberly-Clark Corporation
Global Hand Sanitizer Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hand sanitizer products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Hand Sanitizer
– Soap
– Gel
– Cream
– Wipes
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
– Transportation & Logistics
– Pharmacies
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Liquid
– Solid
– Others
– Barriers to Entry
– Competitive Landscape
– Others
– Regional Outlook (Revenue, USD Million, 2017 – 2030)
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: With technology breakthroughs accelerating, businesses are implementing cutting-edge production methodologies to improve productivity and output while also instilling excellent manufacturing standards and product innovation. Product positioning and customer-specific category specification has been a source of worry for the manufacturer. However, the simple introduction of extra functionalities within the product is increasingly raising its demand from customers.
In the retail industry, design innovation is on the rise. Innovations in hand sanitizers are expected to influence the hand sanitizer market. Consumers are interested in items that bring simplicity, convenience, and speed to their normal routine, whether they be product improvements, design innovations, feature additions, or smart feature add-ons.
[Q]: Who are the Key Players in the Hand Sanitizer Products Market?
[A]: The Procter & Gamble Company, Unilever Plc, The Colgate-Palmolive Company, Henkel AG, and Reckitt Benckiser Group PLC.
[Q]: Which Region Offers the Largest Opportunity for Sales of Hand Sanitizer Products?
[A]: Asia Pacific is expected to be lucrative for hand sanitizer products market.
[Q]: What are the factors driving the hand sanitizer products market?
[A]: Key factors such as the increase in the number of people with allergies, the rise in awareness about the importance of hand hygiene, and the increase in the number of people travelling are expected to drive market growth over the forecast period.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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