(MENAFN- PR Newswire) DUBAI, UAE, June 29, 2020 /PRNewswire/ -- Hand sanitizer sales have skyrocketed around the globe to unprecedented highs, and demand is likely to sustain even after a COVID-19 vaccine is available, according to a study by Future Market Insights.
According to the latest study, global hand sanitizer sales are likely to grow at over 7% CAGR through 2030. This is a revised forecast, adjusted for the massive spike hand sanitizers have witnessed since the onset of COVID-19.
"For the next one year, hand sanitizer demand will outstrip supply; however, there is a high likelihood that hand sanitizers will be as ubiquitous as toothpaste or say facewash – even after a vaccine is available," says FMI's report .
Key Takeaways from FMI's Hand Sanitizer Market Study
- Hand sanitizer market poised to reach USD 2.8 billion by 2030
- US and EU5 will witness high sales of branded hand sanitizers; APAC and Latin America witnessing foray of local players
- Instant hand sanitizers are being sought-after due to on-the-go use
- Portable hand sanitizer demand growing in many countries
- Alcohol companies are diverting their production capacities to meet growing hand sanitizer demand
Although hand sanitizer market players are in the midst of heightened demand, the foray of unregulated players has led to widespread fragmentation. US FDA's announcement to declare nine hand sanitizer brands as 'toxic' is indicative of the widespread chaos in the marketplace.
Download Sample copy with Table of Contents : https://www.futuremarketinsights.com/reports/sample/rep-gb-707
"The hand sanitizer industry has witnessed a foray of thousands of player in a short span of 3-4 months. Many of the products available in low-income countries are catering to local demand. However, many products are of dubious quality and use ingredients banned or termed 'dangerous' in many countries," says FMI.
Hand Sanitizer Market: Region-wise Analysis
- US hand sanitizer market is currently witnessing supply-demand challenges, but over long run, foray of new companies will address this
- EU5 a more lucrative market as per 100 ml price significantly higher than Eastern Europe
- Demand in China and India met by foray of new players; consumers buying these as a compulsion and not a choice
- Middle East market looking at the import route, but domestic production also likely to go up
Hand Sanitizer Market: Competitive Landscape
The hand sanitizer marketplace was moderately fragmented before COVID-19 pandemic; however, since March 2020, an unprecedented demand has led to the foray of new players.
The number of players currently operating in the market is directly related to the relative strength of regulatory body. In the US, Canada, Australia, New Zealand, and Western Europe, the foray of local players is limited.
In APAC, Latin America, and parts of Africa, many new hand sanitizer companies have sprung up. Although these companies are helping meet demand in the absence of supply from known brands, ingredient quality remains a concern.
Browse Preview Analysis : https://www.futuremarketinsights.com/reports/hand-sanitizer-market
Hand Sanitizer Market Taxonomy
Product
- Foaming Hand Sanitizers
- Foaming Instant Hand Sanitizer
- Instant Hand Sanitizer Gel
- Spray Hand Sanitizer
Content
- Alcohol Based
- Up to 60% content
- Above 60% content
- Non-Alcohol Based
Active Ingredient
- Ethanol or Ethyl Alcohol
- Benzalkonium Chloride
- Isopropyl
Packaging Type
- Flip-flop bottles
- Pump Bottles
- Dispensing Packets
- Jars/Cans
End-use
- Hospitals & Healthcare
- Offices/Commercial
- Foodservice
- Food Processing
- Schools & Universities
- Manufacturing & Industrial
- Hospitality
- Grocery, Convenience Store & Retail
Pack Size
- Below 100 ml
- 101ml-300 ml
- 301 ml- 500 ml
- 501 m l & above
Sales Channel
Region and Country
North America
Latin America
- Mexico
- Brazil
- Peru
- Argentina
- Rest of Latin America
Europe
- EU-4
- UK
- BENELUX
- Nordic
- Russia
- Rest of Europe
Asia (excluding Japan)
- China
- India
- ASEAN Countries
- South Korea
Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- Northern Africa
- Rest of MEA
Oceania
Japan
Get Valuable Insights into Hand Sanitizer Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global hand sanitizer market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030.
Explore Extensive Coverage of FMI's Retail & Consumer Reports
Respirator Mask Particulate Market : Obtain valuable insights on global fish powder market with exhaustive segmental analysis, market statistics, key influencing factors, prominent players and critical developmental strategies adopted by them for a predefined projection period.
Disposable Mask Market : FMI's report on fish feed market offers an in-depth commentary on the market poised for prolific growth during 2019-2029. The study covers comprehensive evaluation of key impacting forces, revenue sources, market leaders along with instrumental market strategies.
Hospital Disinfectant Products & Services Market : Get a deep-dive analysis on fish nutrition market with crucial insights on growth levers, opportunities, restraints, regulatory policies, regional market forecast and key forte of market leaders.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Abhishek Budholiya Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,Jumeirah Lakes Towers, Dubai,United Arab EmiratesMARKET ACCESS DMCC Initiative For Sales Enquiries : [email protected] For Media Enquiries : [email protected]
Press Release Source: https://www.futuremarketinsights.com/press-release/hand-sanitizer-market
SOURCE Future Market Insights
MENAFN2906202000701241ID1100404317
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.