It has been one of the most sought-after categories during the COVID-19 pandemic, but the global hand sanitiser market is expected to continue to post strong sales well beyond the current crisis, a new study has found.
According to the Future Market Insights study, the global market for hand sanitiser is expected to be valued at $1.4 billion (€1.23 billion) in 2020, and will expand at a CAGR of 7.2% between now and the end of the decade.
Market Growth
The value of the market will be around $2.8 billion (€2.45 billion) by 2030, it said.
The study found that North America is expected to dominate the global hand sanitiser market in the coming years, owing to the extent of the coronavirus epidemic in this region.
In addition, the level to which healthcare institutions, retailers and other businesses are installing hand sanitising units is expected to have a lasting effect on hand hygiene behaviour among consumers, it said.
East Asia is also likely to be a core driver of sales growth, due to expanding government and healthcare industry initiatives to promote the use of hand hygiene products.
Production capacity has been ramped up, with even non-direct suppliers of hand sanitisers, such as drinks firms, diverting investment towards the production of hygiene gels and other products.
Packaging Drive
According to Future Market Insights, packaging is likely to be a key driver of hand sanitiser sales, with a range of convenient pack sizes and aromas available as the market matures.
Unilever and Henkel are among the firms to adopt an attractive packaging strategy to increase their sales of hand sanitisers, it sad, while the market is also being the emergence of premiumisation, with added value benefits such as moisturiser being incorporated into products.
It said that consumers may well be more eager to spend more on premium sanitisers due to their high regard for their personal health.
“Due to the coronavirus outbreak, various organisations have significantly shifted their production line to produce alcohol-based hand sanitiser," a lead analyst explained.
"Moreover, prominent raw material suppliers have also increased their production capacity to develop ethanol, ethyl alcohol, and isopropyl ingredients to support the production of hand sanitiser worldwide.”
For more information, visit www.futuremarketinsights.com/reports/hand-sanitizer-market
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine
