The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Hand Sanitizers Global Market Report 2023, the hand sanitizers market is expected to show significant growth in the forecast period.

The global hand sanitizers market is set for substantial growth, projecting an increase from $3.66 billion in 2022 to $4.02 billion in 2023, exhibiting a noteworthy Compound Annual Growth Rate (CAGR) of 9.9%. Looking ahead, the market is anticipated to reach $6.16 billion by 2027, maintaining a robust CAGR of 11.3%. The catalyst behind this surge is undeniably the coronavirus outbreak, which propelled an unprecedented demand for hand sanitizers. Hygiene, as a paramount measure against the virus, has positioned hand sanitizers as an essential tool in the global fight against COVID-19.

• Growth Projection: Expected to reach $4.02 billion in 2023, with a CAGR of 9.9%.
• Pandemic Influence: Coronavirus outbreak drives heightened awareness and demand.
• CDC Recommendations: Alcohol-based sanitizers with over 60% ethanol or 70% isopropanol preferred.

Hygiene Imperative: Post-COVID Demand Surge

The COVID-19 outbreak has underscored the critical role of hygiene, shaping consumer behavior and elevating the demand for hand sanitizers globally. In response to the pandemic, the Center for Disease Control (CDC) has advocated the use of alcohol-based hand sanitizers, becoming a preferred form of hand hygiene, particularly in healthcare settings. The U.S. Food and Drug Administration (FDA) witnessed a surge in registrations, with over 1,500 additional manufacturers stepping up to meet the heightened demand for hand sanitizers.

• Hygiene Importance: Integral part of staying safe and protecting against coronavirus.
• Consumer Behavior Shift: Increased awareness and prioritization of hygiene practices.
• CDC Guidelines: Recommends alcohol-based sanitizers for effective hand hygiene.

Industry Leaders: Steering the Hand Sanitizers Market

Major players in the hand sanitizers market, including Reckitt Benckiser Group, Procter and Gamble, and Unilever, have played instrumental roles during the pandemic. The industry witnessed a trend of companies expanding production capacities to meet the unprecedented demand. For example, Bell International Laboratories announced a significant expansion, aiming to produce 22 million units of alcohol-based hand sanitizers. Notably, companies outside the traditional sanitizer industry, such as alcoholic beverage manufacturers Radio Khaitan and Bacardi, pivoted to hand sanitizer production to contribute to public health efforts.

• Key Players: Reckitt Benckiser Group, Procter and Gamble, Unilever.
• Production Expansion: Companies revamp operations to meet surging demand.
• Diverse Entries: Alcoholic beverage manufacturers contribute to hand sanitizer production.

Market Dynamics: Segmentation Insights

The hand sanitizer market is segmented across various dimensions, providing a comprehensive view of the industry. The segmentation includes types, products, distribution channels, and end-users. Notably, a key trend shaping the market is the diversification of products, including gels, foams, and liquids. Furthermore, the distribution channels have expanded beyond traditional avenues, embracing online platforms as a crucial channel for consumer accessibility.

• Segmentation Overview: Types, products, distribution channels, and end-users.
• Product Diversity: Gels, foams, liquids, and other innovative formulations.
• Distribution Evolution: Inclusion of online stores as prominent sales channels.

Regional Dominance: Asia-Pacific Takes the Lead

In 2022, Asia-Pacific emerged as the largest region in the hand sanitizers market, solidifying its position as a key player in the global landscape. The region’s dominance can be attributed to widespread adoption, extensive hygiene practices, and a large population reliant on agriculture. As the largest consumer of hand sanitizers, Asia-Pacific is anticipated to maintain its leading role, contributing significantly to the overall market growth.

• Regional Leadership: Asia-Pacific led the hand sanitizers market in 2022.
• Continued Influence: Expected to maintain a pivotal role in the market’s trajectory.

View More On The Hand Sanitizers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/hand-sanitizers-global-market-report

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The Hand Sanitizers Global Market Report 2023 provides an in-depth analysis on the hand sanitizers market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the hand sanitizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Hand Sanitizer Dispenser Global Market Report 2023
Hand Wash Global Market Report 2023
Disinfectants Global Market Report 2023

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