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Cannabinoid-Infused Sanitizers, A Latest Trend Adopted By The Hand Sanitizers Market Players Post Pandemic

Hand Sanitizers  Market Report 2021: COVID-19 Growth And Change To 2030

Hand Sanitizers Global Market Report 2021: COVID-19 Growth And Change To 2030

Hand Sanitizers Market Report

Hand Sanitizers Global Market Report

The Business Research Company’s Hand Sanitizers Global Market Report 2021: COVID-19 Growth And Change To 2030

LONDON, GREATER LONDON, UK, July 19, 2021 / -- In March 2020, Agritek Holdings, Inc., USA-based active investor and operator in the legal cannabis sector, announced the acquisition of Full Spectrum Biosciences Inc., including a new product line of RehabRx CBG infused hand sanitizers. Full Spectrum Biosciences Inc.’s acquisition is expected to provide Agritek Holdings, Inc. with additional revenue platform, as both companies together plan to launch hemp-based nutraceutical products for a growing consumer segment. With the COVID-19 outbreak, Full Spectrum Biosciences Inc. is to launch cannabinoid-infused, aloe-based hand sanitizer products containing CBG or cannabigerol. Full Spectrum Biosciences Inc. was founded in 2018 is focused on IP formulation of premium brands and genetic mapping of cannabis strains.

The expansion of production capacities and revamp of companies to meet the higher demand for hand sanitizers is a major trend shaping the sanitizers industry. For instance, in March 2020, Bell International Laboratories, vertically integrated cosmetics manufacturer, announced the expansion of their production for alcohol-based hand sanitizers (gels and sprays) and aimed to produce 22 million units in April. Moreover, companies such as Radio Khaitan and Bacardi, manufacturers of alcoholic drinks turned into sanitizer producers amid the COVID-19 outbreak. This step was taken as companies’ contributions during coronavirus pandemic in order to meet the increasing demand for hand sanitizers for health and hygiene. Therefore, increasing production capacities and companies entering into the production of hand sanitizers is a key trend for the sanitizers market growth.

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Major players in the hand sanitizer market are Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Unilever, Vi-Jon Laboratories Inc., Chattem Inc., Best Sanitizers Inc., and Kutol Products Company.

The global hand sanitizers market size is expected grow from $2.59 billion in 2020 to $2.45 billion in 2021 at a compound annual growth rate (CAGR) of -5.4%. The decline in the market is mainly due to the companies decreasing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The hand sanitizer market is expected to reach $5.12 billion in 2025 at a CAGR of 20%.

TBRC’s sanitizers market report is segmented by type into quaternary ammonium compounds based, alcohol based, tridosan based, others and by product into gel, foam, liquid, others, by distribution channel into online store, pharmacy store, departmental store, others, and by end use into hospitals, restaurants, schools, household purpose, others.

Hand Sanitizers Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides hand sanitizers market overview, forecast hand sanitizers market size and growth for the whole market, hand sanitizers market segments, and geographies, hand sanitizers market trends, hand sanitizers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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