Major hand sanitizer market players include Ecolab, Reckitt Benckiser Group, GOJO Industries, The Himalaya Drug Company, Certus Medical, 3M, and Unilever.
SELBYVILLE, Del., (Newswire.com) – The market valuation of hand sanitizers will reach $3.6 billion by 2026, according to a report by a Delaware-based global market research firm.
The alcohol-free hand sanitizer market is expected to register substantial growth over the coming years, owing to a rising demand for sanitization products that are less harsh on the skin, Global Market Insights said in a report.
In 2019, the segment held around 7% of the overall market share with estimations projecting the segment to experience a momentous growth trend during the forecast period.
In comparison to alcohol-based hand sanitizers, alcohol-free sanitizers utilize more active ingredient products like benzalkonium chloride for making the final product. Subsequently, the repeated usage of an alcohol-free sanitizer does not cause any irritation to the skin like its counterparts
In terms of distribution channel, the online platform value crossed USD 260 million in 2019 and is slated to witness substantial gains through 2026. In fact, the sales of hand sanitizers surged worldwide, owing to the increasing number of COVID-19 cases across the globe with online channels playing a significant role in fostering sales.
Online retailers including Amazon, eBay, Walgreens, Walmart, and other service providers have witnessed immense product demand over the past few months. Subsequently, they are increasingly focusing on ensuring the continuous availability of personal care and hygiene-based products across the world, which would influence the segment share significantly.
In 2019, the LATAM hand sanitizer market size was approximately $56 million and will show similar growth trends attributing to the increasing number of coronavirus cases across Mexico and Brazil. In fact, Mexico and Brazil rank among the top 10 countries with the highest cases of COVID-19, which is creating an immense demand for hand sanitizers. Overall, Mexico has half a million confirmed COVID-19 cases, with Brazil recording 3.6 million cases at the most recent count.
Growing awareness related to hygiene amongst consumers has led various companies to come up with new and innovative products to cater to expanding demand.
For instance, on April 29, 2020, Cativa Natureza, a Brazil-based company known for producing organic, natural, and vegan cosmetics, reportedly launched a new hand sanitizer lotion in order to address increase sales as well as to lessen the harmful effects of the ongoing health crisis.
The new sanitizer cleans and sanitizes the hands with no dryness and is made up of nearly 70% organic alcohol, enhanced with an active anti-fungal agent. With new product launches, the demand for hand sanitizers will significantly rise across the LATAM region through the upcoming years.
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