Hand Sanitizer Market Experience A Significant Impact In 2020 Influenced by COVID-19 Pandemic
Global hand sanitizer Market was valued at US$ 2,615.4 1 million in 2019 and is anticipated to witness a very high growth in 2020 and would reach a market size of US$ 15,352.6 million by the end of 2020. Further the market is expected to witness a CAGR growth of 9.15% during 2021–2026 period. Coronavirus disease (COVD-19) has turned out to be an infectious disease that has been caused by a newly discovered coronavirus. Most people fall sick with the disease are expected to experience mild to moderate symptoms and recover without special treatment. COVID-19 is mainly transmitted through droplets generated when an infected person coughs, sneezes, or exhales. These droplets are too heavy to hang in the air, and quickly fall on floors or surfaces. The person can be infected by breathing in the virus if the infected person is within close proximity of someone who has COVID-19, or by touching a contaminated surface and then eyes, nose or mouth. Hence, just as a precautionary measure, hand sanitizers have come across as a beneficial product in various aspects inclusive of mitigation of spread of Coronavirus disease worldwide. COVID-19 pandemic just in the beginning of 2020 has significantly spurred the demand for hand sanitizers WHO and FDA have also taken initiative across the world by permitting the hand sanitizers manufacturers to rapidly increase their production capacity to cope with the ever increasing hand sanitizers demands. While the COVID-19 cases are on the rise, it seems there are not enough hand sanitizers available in stores and pharmacies right now for all of the potential buyers who are expected to be struck by the virus. According to a survey, more than 80% of the world population have been using hand sanitizers while remaining claimed to not to use the product.
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Around the world, strict lockdowns were imposed as the COVID-19 outbreak took hold. From Australia to Africa, from America to Europe and to Asia, cities were shut down, restricting how often people were allowed to leave their homes and for what reason. India has asked 1.3 billion citizens of the country to stay home. As of May 15, 2020; the total coronavirus cases topped 4.6 million as more than 99,401 more people contracted the infection in a single day. The death toll worldwide stood at 308,542 and the number of recoveries at 1.75 million as of 15th May 2020. Nearly 80% of the coronavirus cases are from United States and Europe. United States accounts for more than 30% while Europe is the most affected continent with 1,780,818 cases and 162,852 fatalities as of May 17th 2020. Chinese Centre for Disease Control and Prevention finding reveals that 80.9% of the total coronavirus cases were classified as mild while 13.8% and 4.7% were categorized as severe and critical respectively. A COVID-19 related lung injury is typically classified as an acute respiratory distress syndrome (ARDS). Severely ill COVID-19 patients will need ventilators and so increasing cases, the demand for ventilator is on the rise from across the world.
Insights Presented in the Report
“Amongst Product Type, Gel-based Hand Sanitizer is the most demand form of hand sanitizer and is expected to dominate the market”
Based on product type, the hand sanitizer market is classified into gel-based, liquid-based, foam-based and other form of hand sanitizers. It has been observed that due to the rising fears of new coronavirus, many of the gel-based hand sanitizer products are quickly selling out or appearing at prices well above the market retail. Gel based hand sanitizer market is expected to increase from US$ 1,039.0 million in 2019 to US$ 6,062.5 million by 2020 owing to the rising demand from hospital and household for hand hygiene purpose to fight COVID-19 outbreak.
“Amongst End Users, hospital and household are the major end-users of hand sanitizer. Hospital being the most prominent end-user”
Based on end-users, the hand sanitizer market is bifurcated into households, hospitals, restaurants& hotels and others. Households held the lead share in the market accredited to the increasing awareness of hand hygiene on account of being an important measure to restrict the occurrence of any kind infection. The outbreak of COVID-19 has considerably reinforced the significance of regular hand sanitizing and cleaning practices among consumers and is among the prominent factors driving the market. Demand of hand sanitizer in the government and commercial offices is expected to increase from US$ 526.8 million in 2019 to US$ 3,057.0 in 2020. With more and more number of tests conducted, demand for hand sanitizer for hygiene purpose is expected to increase.
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“Amongst Distribution Channel, departmental or convenience stores are anticipated to hold the maximum share”
Based on the distribution channel, the market is classified into pharmacies, supermarkets & hypermarkets, departmental stores/convenience stores and other channels such as online mode. An increasing number of departmental stores across various countries and quick access to the product in contrast to online channels where the consumers are made to wait for the delivery of the product.
“Amongst Countries, the US is expected to need more of hand sanitizer amid COVID-19”
For a better understanding of the hand sanitizer demand, a trend arises due to COVID-19, a detailed analysis was conducted for top 10 most affected countries including United States, Germany, United Kingdom, France, Italy, Spain, Russia, Turkey, Iran, and India. United States currently registered maximum sales of hand sanitizers available and is expected to need even more than any other country across the world as the countries acquires for more than 30% of the global COVID-19 cases alone and the cases are still on rise.
Top 10 Competitive Players
Some of the major players operating in the market include Unilever Lifebuoy, Gojo, S. C. Johnson & Son, Inc., ITC Ltd., 3M Company, Beiersdorf AG, Clorox, Ecolab Inc., Winova, and RECKITT BENCKISER. The industry have witnessed an increase in demand owing to COVID-19 in the first quarter of 2020 and is expected to witness similar trend at-list for the remaining part of 2020. However, the market would witness a decline post 2020. The companies have expanded their production owing to the sudden surge in demand.
Reasons to buy this report:
The study includes current and demand forecast of hand sanitizers due to COVID-19 outbreak
The report presents a quick review of overall industry performance at one glance
The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry
The study comprehensively covers the hand sanitizer demand and stakeholders approach in limiting its gap
Deep dive country-level analysis
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