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The global hand sanitizer market size is slated to reach USD 1.96 billion by 2026 owing to increasing availability of alcohol-based sanitizers, finds Fortune Business Insights™ in its new report, titled “Hand Sanitizer Market Size, Share & Industry Analysis, By Product Form (Foam, Gel, and Liquid), Type (Alcohol-based and Alcohol-free), Distribution Channel (Pharmacy Stores, Supermarkets/ Hypermarkets, Online Retail Channels, and Others), End-User (Schools, Restaurants, Hospitals, Household Purpose, and Others), and Regional Forecast, 2019-2026”. As per the report, the value of this market stood at USD 1.22 billion in 2018 and is projected to register a CAGR of 6.2% from 2019 to 2026.
Univar and INEOS Team up to Supply Hand Sanitizers in Europe
UK-based chemical company INEOS and US-based chemicals distributor Univar partnered in April 2020 to swiftly address the shortage of commercial sanitizers in Europe, amid the COVID-19 outbreak. Prior to this announcement, the two companies had declared their pledge to construct a hand sanitizer factory in the UK, aiming to produce and donate one million sanitizer bottles every month to meet the shortfall of hygiene products in Europe, thus furthering INEOS’s ‘Hands On!’ campaign. Finally, the collaboration intends to ensure that the UK National Health Service (NHS), along with health service systems across Europe, is equipped with a substantial supply of these sanitizers to tackle the pandemic. Thus, partnerships such as these are expected to shape the trends in this market as well as elevate the market potential, playing a particularly key role in the on-going health crisis across the globe.
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Increasing Global Emphasis on Hygiene to Contain the COVID-19 Pandemic to Fuel the Market
The COVID-19 outbreak has brought the importance of personal and community hygiene and sanitation practices to the fore. Presently, there is growing international focus on promoting and instilling sustainable hygiene practices to curb the spread of the virus. For example, the water, sanitation, and hygiene (WASH) campaign launched by the UN Children’s Fund (UNICEF) focuses on promoting investment in water and sanitation infrastructure, especially in poor countries. Moreover, the campaign aims at devising cost-effective strategies to enhance preparedness during pandemics such as the current one. Similarly to WASH, the World Bank Water Global Practice is offering a variety of solutions to prepare governments for emergency response to the current as well as future pandemics. In addition to them, the World Health Organization (WHO) is continuously issuing directives and instructions on maintaining personal hygiene, since the virus is getting transmitted through droplets and touch. Thus, rapid spread of the coronavirus is expected to boost the hand sanitizer market growth.
Portfolio Diversification by Key Players to Heat up Competition
The market for personal care products is highly competitive and most of the companies, especially newer ones, operating in this market are looking to deepen their foothold. Their primary strategy for achieving this is to expand their portfolio and diversify their offerings. As a result, some of the players are partially or fully acquiring businesses of other companies in a bid to annex their products. Another strategy implemented by players is to strengthen their distribution networks especially in emerging markets so as to gain an early-bird advantage.
List of Players Covered in this Market Report:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
By Product Form
By Distribution Channel