Hand Sanitizer Market Size by Functional Ingredients to Reach Revenues of USD 11.4 Billion by 2021 - Arizton

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Mar 10, 2021, 13:00 ET

CHICAGO, March 10, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this hand sanitizer market report.

The hand sanitizer market is expected to grow at an incremental rate of around 595% during the period 2019−2022.

Key Highlights Offered in the Report:

1. Rising awareness and consciousness toward hand hygiene is expected to boost the market for liquid hand sanitizers. Thus, the revenue for the liquid hand sanitizer segment is expected to witness incremental revenue USD 584 million by 2026, growing at a CAGR of approximately 12% during the forecast period.

2. North America is expected to witness an incremental growth of USD 150 million in the isopropyl alcohol-based hand sanitizer market during the forecast period with absolute growth of 152%.

3. Growing hygiene concerns and increasing contagious diseases are expected to drive the market for chlorine hand sanitizers. The chlorine hand sanitizer segment is expected to witness an absolute growth of 138% in terms of revenue and 62.91 million gallons from 2019 to 2026.

4. In 2019, the healthcare segment accounted for 62% share of the global hand sanitizer market and is expected to witness an absolute growth of 118% and 80% in terms of revenue and volume from 2019 to 2026.

5. In 2019, APAC followed Europe, and accounted for approximately 25% of the market share. APAC was led by China, Japan, Australia, South Korea, and India. The region is likely to account for around 25% market share in 2026 with recording incremental revenue of over USD 483 million.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, functional ingredient, end-user, distribution channel, and geography
Competitive Landscape – 6 key vendors and 39 other vendors

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Hand Sanitizer Market – Segmentation

Gel and liquid-based hand sanitizers are expected to dominate the market by revenue as well as volume. Formulated with ethyl alcohol, gel-based disinfectants can kill 99% of common germs within seconds. These products deliver the maximum coverage to the skin and spread evenly, thereby providing maximum against germs.
The revenue for quats hand sanitizers is likely to reach over $236 million by 2026, growing at a CAGR of over 10%. The market is expected to grow due to the shift from alcoholic sanitizers to less alcoholic products due to alcoholic-based products' adverse effects. Europe is expected to generate an incremental growth of $26 million during the forecast period.
The growing awareness of hand hygiene is expected to boost the market for alcoholic hand sanitizers in healthcare settings. Thus, the revenue is expected to reach over $2 billion by 2026. With such rising awareness about contagious infections and the importance of maintaining hand hygiene among individuals, hand sanitizer products in the healthcare sector have observed a rise.

Hand Sanitizer Market by Product

Gel-based
Liquid-based
Foam-based
Hand Wipes
Spray

Hand Sanitizer Market by End-user

Healthcare
Hospitality
Residential
Corporate
Government & Military
Education

Hand Sanitizer Market by Distribution Channels

Retail

Supermarkets & Hypermarkets
Departmental Stores & Discounters
Drug Stores
Other Retail Stores

Online/E-commerce Stores

Hand Sanitizer Market by Functional Ingredient

Alcohol-based

Ethyl Alcohol
Isopropyl Alcohol

Non-alcoholic

Quats
Chlorine/Iodophor
Others

Hand Sanitizer Market – Dynamics

The manufacturing of hand sanitizers is a simple and straightforward process. There are very few ingredients in hand sanitizers. To attract end-users, vendors have started investing in developing various variants of hand sanitizers, moving away from established traditional offerings to give end-users something unique. This led to the introduction of fragrant and scented hand sanitizers. Currently, there are several hand sanitizers available in the market with fragrances of fresh fruit, Japanese blossom, ocean breeze, spring blue, aloe, strawberry, orange, and grape, among others. Vendor innovations in developing hand sanitizers have resulted in the positive growth of the market. Vendors are using the fragrant ingredients certified by the International Fragrance Association (IFRA). IFRA-certified fragrances assure safety from harmful chemicals. However, there are various low-cost hand sanitizers available in the market that use non-certified fragrant ingredients such as neurotoxins, petrochemical and phthalates, and others. These hand sanitizers pose a greater risk to end-users.

Key Drivers and Trends fueling Market Growth:

Increasing Penetration of Internet
COVID-19 on Hand Sanitizer Market
Growth in Promotional Activities
Increasing Health Consciousness among Consumers

Hand Sanitizer Market – Geography

The penetration of hand sanitizers remains all-time high in the US and Canada. North America is likely to gain its share due to the impact of the COVID-19 pandemic and is expected to account for a market share of 34% by 2026. The US is the largest market for hand sanitizers and hand hygiene solutions, and the increasing retail expansion has boosted the market revenue for the same. Healthcare is one of the largest contributors to the US economy, accounting for close to a fifth of the overall gross domestic product. Hence, the US offers vast opportunities for sanitizer vendors in terms of consumption and demand. The case has been so since the outbreak of the COVID-19 pandemic. The natural landscape of North America strongly reflects its physical setting.

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By Geography

North America

US
Canada

Europe

UK
Germany
France
Spain
Italy

APAC

China & SAR
Japan
South Korea
India
Australia

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
Iran

Major Vendors

3M
GOJO Industries
Procter & Gamble (P&G)
Reckitt Benckiser
Unilever
Vi-Jon

Other Prominent Vendors

Bath & Body Works
Best Sanitizers
Chattem
Christeyns Food Hygiene
Cleenol Group
EcoHydra
Ecolab
Henkel
Kimberly-Clark
Kutol Products Company
Linkwell
Lion Corporation
Medline Industries
Nice-Pak Products
Safetec of America
The Himalaya Drug Company
Vectair Systems
Whiteley Corporation
Zoono Group
JSW Paints
Emami Limited
L'Oréal
Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL)
Asian Paints
Luxor
LVMH
The Clorox Company
Kavit Polybind Private Limited
Cossmic Product Private Limited
Bo International
Radix Hi-Care Products
Kripa Pharma
EO Products
Edgewell Personal Care
SC Johnson
Apollo Health and Beauty Care
HARTMANN GROUP
Zidac Laboratories
Shangrao Chunyu Technology

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence