The impact of the COVID-19 outbreak on the global hand sanitizer market size is expected to be positive as the pandemic has caused booming sales of hand sanitizers around the world, shares Fortune Business Insights™ in its report, titled “Impact of COVID-19 on the Global Hand Sanitizer Market Size, Share, Industry Analysis and Regional Forecast, 2019-2026”. With coronavirus cases reaching new highs daily, the demand for hand sanitizers has witnessed a meteoric rise since March 2020.
The CNBC
reported in March that hand sanitizer sales in the U.K. rose by 255% in
February, forcing retailers such as Boots to cap the number of sanitizers
purchased at two per person. Similarly, in Italy, hand sanitizer sales grew
astronomically by a startling 1,087% in February, just as the pandemic was
gathering momentum, the CNBC highlighted in its report. Walmart India also
reported an unprecedented spike in hand cleaning products sales, compelling the
chain to put limits on purchase. The pandemic is, therefore, likely to surge revenues
for companies in this market, as long as the crisis persists.
List of Key Players Profiled in
the Hand Sanitizer Market Report:
- SC Johnson & Son, Inc. (U.S.)
- Best Sanitizer Inc. (U.S.)
- Bacardi Limited (Bermuda)
- Himalaya Global Holdings Ltd. (India)
- Gojo Industry Inc. (U.S.)
- Proctor & Gamble (U.S.)
- CVS Health (U.S.)
- Unilever Plc. (U.K.)
- Henkel AG & Company (Germany)
- Reckitt Benckiser (U.K.)
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The report addresses the following questions:
- How will the global hand sanitizer market get affected in the short- and long-term by the COVID-19 pandemic?
- What kind of impact will the coronavirus outbreak have on the regional prospects of the market?
- How will the pandemic affect the upcoming market opportunities?
- How has the global market been segmented vis-à-vis the COVID-19 outbreak?
- What been the governmental response to this pandemic?
- How are the key players responding to this phenomenon and what are the strategies they are implementing?
MARKET DRIVERS-
Promising Research into the Efficacy of Hand
Sanitizers to Boost Market Prospects
Promotion of
hand sanitizers by the World Health Organization (WHO) and other medical
agencies such as the Centers for Disease Control and Prevention (CDC) sparked
questions regarding the actual efficacy of these products. This led to research
studies to investigate the potential of hand cleaning solutions in killing the
coronavirus.
For example,
in April 2020, the University of Minnesota’s Center for Infectious Disease
Research and Policy published an article that illustrated a study conducted by
Swiss and German researchers to test the effectiveness of hand sanitizer
formulations recommended by the WHO. The study found that sanitizers having 40%
or more ethanol effectively killed the coronavirus, which is in line with the
WHO’s suggestions. Moreover, the authors of the study also emphasized on the
rubbing of hands after sanitizer application for 30 seconds, which has also
been highlighted by the WHO in its initial guidelines. Thus, with research
supporting the WHO’s directives, the development of alcohol-based sanitizers is
likely to get boosted and fuel the hand sanitizer market growth.
Read a Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/impact-of-covid-19-on-hand-sanitizer-market-102719
REGIONAL INSIGHTS-
North America to Lead the Global Market with
a 38% Share
The market
size in North America stood at USD
485.59 million in 2019 and the region is expected to lead the hand
sanitizer market share owing to exponential rise in coronavirus cases. In
August 2020, the number of COVID-19 cases in the US surpassed 6 million, with
approximately 180,000 deaths. Europe is undergoing similar trends, with surging
coronavirus cases, especially in the U.K., France, Italy, and Spain.
Furthermore,
countries are now bracing for the “second wave” of the pandemic, wherein more
people are expected to contract the infection and die. Overall, the impact of
the pandemic on a country will depend of the level of preparedness, proportion
of vulnerable sections, governmental measures, and general awareness regarding
personal hygiene.
COMPETITIVE LANDSCAPE-
Key Players to Leverage Innovation Capacities
and Elevate Production
The
unparalleled health and economic crisis precipitated by the coronavirus is
providing key players opportunities to innovate and come up with novel hand
disinfecting solutions. Besides this, some of big companies in the market are
adopting measures to boost their production capacity and meet the soaring
demand for hand sanitizers.
INDUSTRY DEVELOPMENTS-
- May 2020:
The US-based personal care brand, by Humankind, introduced its maiden
alcohol-based hand sanitizer that is also free of plastics. Priced at $20 and
available in two variants, the product comes in reusable aluminum bottle and
comprises 65% alcohol.
- April 2020:
The German consumer goods giant, Henkel AG, announced that it will increase its
production capacity of hand sanitizers at the company’s Dusseldorf site.
Furthermore, the company will be donating 50,000 liters of hand disinfectants
to the surrounding healthcare facilities and public institutions under its
‘Global Solidarity Program’.
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