The global Hand Sanitizers Market size is projected to reach a CAGR of 4.4% from 2023-2030.
Hand sanitizers are defined as consumer goods that are utilized for the prevention and transmission of infections, bacteria, and microorganisms through hands. These products do not require the usage of water or soap to wash, they evaporate after disinfecting the hands. They are available in different forms for usage such as in gel, liquid, spray, foam, or even disposable hand wipes, and are highly effective hand hygiene products providing moisture retention as well.
Rising public awareness about personal hygiene is a vital factor responsible for the upliftment of market growth, also a rise in government initiatives to promote good personal hygiene practices, a rise in the distribution of hand sanitizers in various healthcare settings, a rise in the concerns regarding health safety and precautionary measures for wellness, rise in the transformation of the lifestyle of individuals resulting in increased healthcare expenditure and better health measures and increase in the cost-effective and moisture retaining features even with purifying capabilities are some of the prime factors among others driving the hand sanitizer market. Moreover, rising innovation in the production technique of sanitizers and rise in the research and development activities in the market will further create new opportunities for the hand sanitizer market the in the forecast period mentioned above.
On the other hand, the rise in the concerns regarding side effects and infections of the skin with the usage of the product and lack of adoption due to the presence of severe ingredients in cheaper versions of the product are the major factors among others which will obstruct the market growth, and will further challenge the growth of hand sanitizer market in the forecast period mentioned above.
With the sudden outbreak of the COVID-19 pandemic, the World Health Organization (WHO) has recommended the use of hand sanitizers for self-preservation and to minimize the spread of the coronavirus. The increasing number of deaths caused by the virus has further triggered an alarming response from consumers, thereby increasing the emphasis of consumers on hand hygiene as a preventive measure against contracting the infection. Hand sanitizers contain a high percentage of alcohol, which removes the envelope coating of the virus, thereby making it non-infectious and providing continuous protection to the user.
The transformation of individual lifestyles, leading to increased healthcare expenditure and better health measures, coupled with cost-effective and moisture-retaining features, even with purifying capabilities, are some of the key factors driving the growth of the hand sanitizer market. Additionally, the market is witnessing rising innovation in the production techniques of sanitizers and a surge in research and development activities, which will further create new opportunities for the hand sanitizer market during the forecast period mentioned above. However, the presence of severe ingredients in cheaper versions of the product has hindered the adoption and is a major factor among others that will obstruct the market growth.
North America to Dominate the Market
