China and the U.S. Lead Global Hand Sanitizers Market, with China Forecasted to Grow at a 13.4% CAGR

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Oct 23, 2023, 20:30 ET

DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Hand Sanitizers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Hand Sanitizers, valued at US$27 billion in 2022, is poised for significant expansion, projected to reach US$66.3 billion by 2030, exhibiting a robust CAGR of 11.9% over the analysis period of 2022-2030.

Among the segments analyzed in the report, Gel stands out with a projected CAGR of 12.7%, reaching US$33.5 billion by the end of the forecast period. The Foam segment is also expected to see substantial growth, estimated at an 11.9% CAGR over the next 8 years.

Key Market Insights:

The U.S. Hand Sanitizers market is estimated at US$9 billion in 2022.
China, the world's second-largest economy, is forecast to reach a market size of US$5.6 billion by 2030, growing at a CAGR of 13.4%.
Japan and Canada are also noteworthy markets, expected to grow at 9.5% and 11.1%, respectively, from 2022 to 2030.
Within Europe, Germany is projected to grow at approximately 12.5% CAGR.

Select Competitors:

The Hand Sanitizers market includes a competitive landscape with key players such as:

3M Company
Godrej Consumer Products Ltd.
GOJO Industries, Inc.
Henkel AG & Co. KGaA
ITC Limited
Hariraj Cosmetics
Lion Corporation
Kutol Products Company
Reckitt Benckiser Group Plc
SC Johnson & Son

Economic Outlook:

The global economic outlook is showing signs of improvement, albeit with some challenges. The United States, while experiencing slower GDP growth due to tight monetary and financial conditions, has successfully overcome the recession threat. The Euro area has witnessed easing headline inflation, contributing to increased real incomes and economic activity.

China is expected to see strong GDP growth as it moves away from a zero-COVID policy. India, with optimistic GDP projections, is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

However, several challenges persist, including uncertainty surrounding the war in Ukraine, slower-than-expected global inflation decline, food and fuel inflation, and high retail inflation impacting consumer confidence and spending. Governments are actively addressing these challenges to bolster market sentiments.

Corporate investments may face headwinds due to inflation concerns and weaker demand, but the rise of new technologies is expected to partially reverse this sentiment. Technologies such as generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, and renewables hold the potential to drive incremental growth in global GDP.

The short-term outlook presents a mix of challenges and opportunities for consumers and investors. Resilience and adaptability will be key for businesses and their leaders to navigate this complex landscape.

For a more comprehensive analysis of the Hand Sanitizers market and global economic trends, please refer to the full report.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
COVID-19 Leaves the Global Economy in Shambles
COVID-19 Cases Worldwide: Total Cases, Deaths, Cases Per Million Population and Deaths Per Million Population for Top Nations
While the World Economy Struggles Amidst COVID-19, Hand Sanitizer Sales Touch New High
Hand Sanitizers: A Prelude
Market Outlook
Key Drivers Summarized
Rising Consumer Awareness
Introduction of High-Performance Products
Launch of Green & Sustainable Solutions
User-Friendly Solutions
Market Restraints
Gel-based Hand Sanitizers Occupy Major Share of Global Market
Higher Effectiveness of Alcohol-based Sanitizers Catapults the Segment to the Dominant Position
Hospital Sector Remains Primary End-User Segment
Developed Regions: Key Consumers of Hand Sanitizers
Developing Regions to Drive Gains
Competition
American Companies Dominate the World Hand Sanitizers Market
Recent Market Activity
Hand Sanitizers - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Alcohol Distilleries Eye Hand Sanitizer Business
Select Few Sanitizers Produced and Distributed by Distilleries
Small Companies Flock the Sanitizers Market
Supply Chain Disruptions to Amplify Hand Sanitizer Shortages
Innovations in Formulations & Dispenser Designs Spearhead Market Growth
Perfumeries and Fashion Brands Reconfigure Production Lines to Boost Supply of Hand Sanitizers
Manufacturers Repurpose Production Units to Fulfill Swelling Demand
Small-Sized Bottles, Desktop Use Containers, and PorTable Hand Sanitizer Become Ubiquitous
Automatic Dispensing Systems Play Big in the Market
Aging Population and their Vulnerability to Various Infections: A Major Growth Driver
Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
Children and Young Adults: A Lucrative Demographic Segment & the New Advertising Target
Growing Consumer Awareness about the Environment Drive Strong Demand for Natural Variants
Fragrance to Become an Important Attribute of Hand Sanitizers, Bodes Well for the Market
Effectiveness of Alcohol based Hand Sanitizers
Alcohol-free Hand Sanitizers Step In to Replace Alcohol-based Versions
Comparison of Different Parameters for Alcohol-based and Alcohol-free Hand Sanitizers
Consistent Increase in Risks and Threats from Hand Hygiene Related Diseases and Infections Drive Healthy Market Growth
Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
Lotion-Based Hand Sanitizers: Combining Sanitizing and Moisturizing Attributes
Retail Segment: Dominant Medium for Hand Sanitizers Distribution
Online Channel Opens Up A Robust Sales Platform
Global Sanitizer Sale by Distribution Channel: 2019
Issues & Challenges
Studies Claim Sanitizers Reduce Body's Defense against Pathogens
Excess Use of Hand Sanitizers Give Rise to Drug-Resistant Bacteria
Risk of Poisoning & Flammability in Alcohol-based Sanitizers
Dryness: A Major Cause of Concern
Risk of Dermatitis due to Alcohol-based Hand Sanitizers
Parabens: Health Risks Raise Concerns

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/e9urhw

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