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Global hand sanitizer market to reach $11.16B by 2031, growing at 18.7% CAGR due to rising demand amid COVID-19. #HandSanitizer #MarketGrowth

BROOKLYN, NEW YORK, UNITED STATES, July 25, 2023/EINPresswire.com/ -- The global Hand Sanitizer Market size was valued at USD 11.16 billion in 2031 and is expected to grow at a compound annual growth rate (CAGR) of 18.7% from 2023 to 2031. The rapid spread of coronavirus worldwide, most notably in Europe and North America, is driving the demand for hand sanitizers.
The key factors that drive the market growth are rising awareness about health and wellness, growing disposable income, rise in household sector, and scarcity of water in certain regions. Increase in number of infectious diseases and rise in medical conditions causing allergies are other factors that propel the hand sanitizer market growth.

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However, the availability of alternative cleaning methods and high price of hand sanitizers are the key factors that restrain the market growth.

Market Segmentation

Based on Product Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Gel
• Liquid
• Foam
• Wipes
• Spray

Based on Functional Ingredient, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Alcohol Based
• Triclosan
• Iodine
• Quaternary Ammonium Compounds Based

Based on Distribution Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Hypermarket & Supermarket
• Drug Store
• Retail Store
• Online Sales
• Other Distribution Channels

Based on End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each section.
• Healthcare
• Household
• Hospitality
• Corporate
• Retail Industry
• Educational Institutions
• Government & Military
• Other End Users

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Key Challenges
• Stringent regulations: The stringent regulations governing the manufacturing and sale of hand sanitizers are a key challenge for the global hand sanitizer market. These regulations can make it difficult for new entrants to enter the market, and they can also increase the cost of doing business.

• Competition from other personal care products: The competition from other personal care products such as soap and water is another key challenge for the global hand sanitizer market. Soap and water are still considered to be the most effective way to clean hands, and they are often available for free in public places. This can make it difficult for hand sanitizers to compete.

Regional Analysis
The global hand sanitizer market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for hand sanitizers, followed by Europe and Asia Pacific. The growth of the North American market can be attributed to the high awareness of hygiene and sanitation in the region. The European market is also expected to grow at a significant rate during the forecast period.

Key Benefits of This Market Research:
• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Photo Inkjet Printers Market
• Overview of the regional outlook of the Photo Inkjet Printers Market:

Competitive Landscape
The global hand sanitizer market is dominated by a few major players, including 3M Company, Best Sanitizers, Inc., Caldrea, Inc., Chattem, Inc, Cleanwell LLC, Cleenol Group Ltd, Elyptol, Inc., EO Products, Godrej Industries Limited, GOJO Industries, Inc., Hello Bello (Walmart), Henkel AG & Company, KGaA, Himalaya Drug Company, Jao Brands, Kimberly-Clark Corporation, Kutol Products Company, Inc., Procter & Gamble Company, Reckitt Benckiser Group Plc., S.C. Johnson & Son, The Clorox Company, Unilever, Vi-Jon Laboratories,

Hand Sanitizer Market Key Questions:
• What is the size of the global hand sanitizer market?
• Which countries have the highest levels of hand sanitizer consumption?
• What is driving the growth of the market?
• What are the emerging trends in hand sanitizers?
• What role do product innovation and technological advancements play in the growth of the hand sanitizer market?
• What are the key challenges faced by manufacturers and distributors of hand sanitizers?
• What strategies are companies using to differentiate their products in the hand sanitizer market?
• How has the price of hand sanitizer changed over time?
• What types of packaging are most popular for hand sanitizer?
• What types of regulatory issues have impacted the hand sanitizer market?

Market Outlook
The global hand sanitizer market size is expected to reach $11.16 billion by 2031. Demand for hand sanitizers is especially high among healthcare professionals and the general public due to the rise in awareness of hand hygiene and the increasing prevalence of infections throughout the world. The outbreak of the coronavirus disease (COVID-19) has been a major driver of the market growth over the past few months. Rising health consciousness, coupled with higher demand for hand hygiene products, has been a major factor propelling market growth. High prices of these products, however, is one of the key restraining factors for the market. Moreover, issues such as shortages in many countries, and slow distribution systems are also hampering the growth of the global hand sanitizer market.

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