Hand Sanitizer Market 2024 Trend, Marketing Channels and Investment Feasibility Hand Sanitizer Industry The

Rahul Nikade

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Hand Sanitizer Market 2024 Trend, Marketing Channels and Investment Feasibility

Hand Sanitizer Industry

The global hand sanitizer market size is expected to reach USD 10.84 billion by 2030, registering a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising prevalence of regular hand washing and sanitization among consumers owing to recent pandemic has been driving the product demand.Major sanitizer manufacturers have been ramping up their production capacity as well as improving their supply strategies to cater to the unprecedented spike in product demand worldwide. According to a report by Adobe Analytics, the demand for hand sanitizer in the U.S. spiked to 1,400% between December 2019 and January 2020. The U.S. government further promoted the usage of hand care products to avoid health issues.

Many companies are also taking initiatives to help fight infection due to the large population that is at a higher risk of disease contamination, such as elderly people and population and individuals with other chronic ailments. For instance, in January 2021, Reckitt Benckiser donated 35,000 bottles of Dettol hand sanitizer to Russian HIV community centers in Moscow, Voronezh, Kaluga, Kursk, Orel, and Vladimir. Hence, initiatives like these supported market growth. Gel-based hand sanitizer segment held the largest share in 2022 and is expected to maintain dominance over the forecast period. These hand sanitizers come in a variety of fragrances that appeal to customers of all ages.

Furthermore, hand sanitizer gels frequently contain moisturizing ingredients that help keep hands soft and limit the product's harsh effects on the skin. These products are also easier to spread and drip less than spray or liquid counterparts, which contributes significantly to segmental market trends. The hypermarket & supermarket segment contributed a majority of the revenue share in 2022 to become a larger division. The increasing penetration of independent retail giants, such as Walmart and Costco, is boosting product visibility and attracting a larger consumer base. Consumers prefer to physically verify these products before buying, which is driving sales through this channel. The market is highly fragmented with the presence of a large number of regional and local players.

Gather more insights about the market drivers, restrains and growth of the Global Hand Sanitizer market

Hand Sanitizer Market Segments Highlights:

The foam-based product segment is projected to register the fastest CAGR over the forecast period. Foam-based sanitizers are more cost-effective for large organizations as it dispenses less amount of product per pump
The online channel segment is anticipated to register the fastest growth rate during the forecast years owing to promising growth exhibited by e-commerce platforms, including Amazon, Alibaba, Walmart, and other such service providers
Asia Pacific is expected to register the fastest growth rate during the forecast period with brands rolling out sanitizers due to rising hygiene practices in countries including China and India.

Hand Sanitizer Market Report Segmentation

Grand View Research has segmented the global hand sanitizer market based on product, distribution channel, and region:

Hand Sanitizer Product Outlook (Revenue, USD Million; 2018 - 2030)