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Hand Sanitizer Market Value to Reach USD 3.80 Billion by 2030; Advancements in Product by Using Innovative Ingredients to Drive Market Growth

July 28, 2023 | Consumer Goods

The global hand sanitizer market size touched USD 2.85 billion in 2022 and is predicted to reach USD 3.01 billion in 2023. The market is anticipated to touch USD 3.80 billion by 2030, recording a CAGR of 3.8% over 2023-2030.


Fortune Business Insights™ presents this information in its latest report titled Hand Sanitizer Market Size, Share & COVID-19 Impact Analysis, By Product Form (Foam, Gel, and Liquid), By Type (Alcohol-based and Alcohol-free), By Distribution Channel (Pharmacy Stores, Supermarkets/Hypermarkets, Online Retail Channels, and Others), By End-User (Schools, Restaurants, Hospitals, Household Purpose, and Others), and Regional Forecast, 2023-2030”.


The incidence of chronic infections and diseases is rising at a worrying rate across the world, which has consequently boosted the demand for advanced disinfecting solutions that are easy to use and affordable. Hand sanitizers refer to anti-infection skincare solutions that clean and protect a user’s skin from disease-causing viruses and bacteria. Customers are becoming increasingly aware of the significance of personal hygiene, which is expected to further boost the hand sanitizer market growth.


COVID-19 Pandemic Augmented Demand for Hand Sanitizing Solutions to Avoid Getting Infected


The COVID-19 pandemic created a period of boom for the hand sanitizer industry as the outbreak was instrumental in boosting the awareness regarding the importance of maintaining a proper hygiene routine. Since more people became aware of the infection-fighting capabilities of hand sanitizing solutions, their demand skyrocketed during this period. Hand sanitizers can effectively protect users against viruses and bacteria including COVID-19. Moreover, as lockdowns and other movement restrictions were eased, offices and educational institutions were reopened, which further fueled the demand for hand sanitizing solutions.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/hand-sanitizer-market-102710


Advancements in Product by Using Innovative Ingredients to Drive Market Growth


Companies operating in this market are focusing on incorporating a wide range of innovations in their personal care products to expand their customer base and boost their market reach. Some of these innovations include the incorporation of fragrant and unique ingredients that not only prevent human-to-human transmission of infections but also prompt more consumers to buy these products. Moreover, the usage of ingredients, such as propylene glycol, glycerin, water, and others, for manufacturing anti-aging skin sanitizing lotions and creams will also alleviate skin aging concerns among customers. These factors are expected to expand the hand sanitizer market share.


Competitive Landscape


Companies to Develop Advanced Products and Boost their Distribution Channels to Maintain their Market Position


Some of the leading companies that have captured a major share of the global market are increasing their focus on developing innovative products that are high in quality. They are also boosting their research and development efforts to search for ingredients that not only protect users against harmful germs and bacteria, but also enhance the skin’s texture. These firms are focusing on the size and shape of their final products to attract more customers. They are also trying to strengthen their distribution channels by partnering with other market leaders and suppliers to enhance their revenue generation capacity. The growing preference for organic products among customers has also prompted these manufacturers to make organic hand sanitizing products to expand their customer reach.


Notable Industry Development:



  • June 2021: Amyris, Inc., a synthetic biotechnology firm, acquired clean wellness company OLIKA Inc. (OLIKA) to boost its operations in the clean beauty and health products industry. The OLIKA brand offered a vast collection of sustainable hand sanitizers made of six different oil fragrances.


List of the Companies Profiled:



  • Reckitt Benckiser Group Plc (U.K.)

  • Gojo Industry Inc. (U.S.)

  • Henkel AG & Company (Germany)

  • Himalaya Global Holdings Ltd. (India)

  • Unilever Plc. (U.K.)

  • Bacardi Limited (Bermuda)

  • CVS Health (U.S.)

  • Best Sanitizer Inc. (U.S.)

  • Proctor & Gamble (U.S.)

  • SC Johnson & Son, Inc. (U.S.)


Further Report Findings



  • North America is projected to lead the market growth during the forecast timeframe as the region has a notable presence of leading product manufacturers such as Vi Jon Inc., Gojo Industries Inc., Edgewell Personal Care, Nice Pak, and many others. These companies have set up their production base in the U.S. and Canada. These countries are also increasing their investment in setting up large infrastructural facilities for educational institutions and schools. This scenario will further boost the demand for hand sanitizing solutions to keep students safe from infections, thereby augmenting the regional market growth.

  • The Europe market is anticipated to capture a large market share in the coming years as governments across the region are offering their support toward the development of advanced medical infrastructure. Some of these infrastructural investments are being made in Italy, France, and Spain. The rising incidence of the COVID-19 infection across the region also accelerated the production and sales of hand sanitizing products, further enhancing the regional market expansion.

  • The hospital segment is projected to dominate the global market share during the forecast period as the demand for sanitizing solutions is rising every year across these medical centers. Moreover, the growing incidence of chronic diseases will further enhance the product adoption across hospitals.


Table of Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 3.8% during 2023-2030



Unit



Value (USD Billion)



Segmentation



By Product Form



  • Foam

  • Gel

  • Liquid



By Type



  • Alcohol Based

  • Alcohol-Free



By Distribution Channel



  • Pharmacy Stores

  • Supermarket/Hypermarkets

  • Online Retail Channels

  • Others (Departmental Stores, Grocery Stores)



By End-User



  • Schools

  • Restaurants

  • Hospitals

  • Household Purpose

  • Others (Shopping Plaza, Military, Corporate Sectors, Hotels)



By Geography


North America (By Product Form, Type, Distribution Channel, End-User, and Country)



  • U.S. (By Product Form)

  • Canada (By Product Form)

  • Mexico (By Product Form)


Europe (By Product Form, Type, Distribution Channel, End-User, and Country)



  • Germany (By Product Form)

  • France (By Product Form)

  • Italy (By Product Form)

  • Spain (By Product Form)

  • U.K. (By Product Form)

  • Rest of Europe (By Product Form)


Asia Pacific (By Product Form, Type, Distribution Channel, End-User, and Country)



  • China (By Product Form)

  • India (By Product Form)

  • Japan (By Product Form)

  • Australia (By Product Form)

  • South Korea (By Product Form)

  • Rest of Asia Pacific (By Product Form)


South America (By Product Form, Type, Distribution Channel, End-User, and Country)



  • Brazil (By Product Form)



  • Argentina (By Product Form)

  • Rest of South America (By Product Form)


Middle East and Africa (By Product Form, Type, Distribution Channel, End-User, and Country)



  • South Africa (By Product Form)



  • UAE (By Product Form)

  • Saudi Arabia (By Product Form)

  • Rest of Middle East and Africa (By Product Form)


Hand Sanitizer Market
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  • 2022
  • 2019-2021
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