Kenneth Research, in its repository of market research reports, have recently added a report on Hand Sanitizer Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hand Sanitizer Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Hand Sanitizer Market was valued at USD 1.1 Billion in the year 2017. Global Hand Sanitizer Market is further estimated to grow at a CAGR of 9.73 from 2019 to reach USD 21.39 Billion by the year 2025. The North America region holds the highest Market share of 8.7% in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period growing at 12%. At the country level, U.S. is projected to grow strongly in the coming years due to the high rate of population and increased investment by R&D.
Major market players in Hand Sanitizer Market are Reckitt Benkiser Group, The Himalaya Drug Company, Procter & Gamble, Gojo Industries, Henkel AG and Co. KGaA, Unilever, Vi-Jon, Chattem Inc., Best Sanitizers Inc., Kutol, and brief overview of 10 companies is provided in the report. Rising research and development expenses are catering to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Hand Sanitizer Market:
Strength:
Product innovation. For e.g. addition of fragrances.
Support from organizations such as WHO, FDA.
Weakness:
Health hazards
Opportunities:
Growing application base. E.g. supermarkets, offices
Threats:
Intense competition among the producers.
Alcohol content
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The Global Hand Sanitizer Market is segmented as By Product, Distribution Channel, End Use and Region. The Product segment is divided into gel, foam, spray and others in which gel hand sanitizers, contributes to the highest Market share. The Distribution Channel is divided as an online store, departmental store, pharmacy store and others in which departmental Stores segment have the highest share in the Market as a result of changing lifestyle and inclination towards health hygiene.
Hand Sanitizer Market Segmentation:
By Distribution Channel
• Online store
• Departmental store
• Pharmacy store
• Others
By Product
• Gel
• Foam
• Spray
• Others
By End Use
• Restaurants
• Schools
• Hospitals
• Household purpose
• Others
By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa
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