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Global hand sanitiser market expected to reach $1,755 million by 2023
According to a new report published by Allied Market Research, titled, 'Hand sanitizer market by product, distribution channel, and end use: global opportunity analysis and industry forecast, 2017-2023,' the hand sanitiser market size was valued at $919 million in 2016, and is projected to reach $1,755 million by 2023, growing at a Compound Annual Growth Rate of 9.9% from 2017 to 2023.
North America was the largest contributor in 2016, accounting for around 35% of the market share.
Factors that drive the growth of the global hand sanitiser market include change in lifestyle of people and increase in consumer inclination towards health. Moreover, rise in awareness about hand hygiene has significantly influenced the market. However, health hazards associated with hand sanitiser are expected to hamper the market growth in the near future.
Gel hand sanitiser is expected to maintain dominance in the global hand sanitiser market during the forecast period, as it is easily available in the market and requires lesser time to effectively eradicate germs as compared to spray and other sanitisers. North America and Europe garnered maximum share of the market in 2016, while China accounted for the major share in Asia-Pacific in the same year.
Hospitals dominated the global hand sanitiser industry with more than two-fifths share in 2016. Increase in demand for sanitisation across various end-use industries, particularly the food & beverage industry, is anticipated to drive the market growth during the analysis period.
* Foam-based hand sanitiser is expected to grow at a CAGR of 11.3% during the forecast period.
* North America is projected to maintain its dominance throughout the period, growing at a CAGR of 8.6%.
* Online store is estimated to grow at the highest CAGR of 14.1% by 2023.
* Asia-Pacific is expected to grow at the highest CAGR of 12.0% during the forecast period.
* China, being the largest consumer of hand sanitisers, generated more than $60 million in 2016, and is estimated to grow at a CAGR of 11.4%.
* The Asia-Pacific hand sanitiser market is analyzed across countries such as China, India, Japan, South Korea, and others. The consumption of hand sanitiser in these countries is rising, owing to improved living standard and increase in concern towards health & hand hygiene.
The major companies profiled in the report include Reckitt Benckiser, Himalaya Drug Company, Procter & Gamble, Gojo, Henkel, Unilever, Vi-Jon Laboratories, Chattem, Best Sanitizers and Kutol Products.
22nd March 2018