Americas held the largest market share in the Hand Sanitizer Market:
Americas hold the largest market share in the Hand Sanitizer Market and is anticipated to reach $603.3 million by 2023 at a CAGR of 5.19%. However, Asia-Pacific is projected to witness the highest growth rate and is anticipated to reach $627.2 million by 2023 at a CAGR of 12.6%. Increased awareness and adoption, especially in emerging economies, and continuous product and package innovation by the market players, are the major growth factors that propel the growth of Hand Sanitizer Market globally. The key applications include healthcare, educational institutions, corporate offices, restaurants, and public organizations among others.
Selected Hand Sanitizer Market Value Chain Analysis:
• Value chain for hand sanitizers has been established as an interdependent and complex network, comprising of raw material providers, product providers, contract manufacturing firms, health institutes, and distributors.
• Top players follow a decentralized approach in production, having their manufacturing presence in strategically important, yet low-cost countries in each region and serve the end users through local distribution networks. This scenario also boosts the international trade of finished products.
• Regulatory bodies approve active compounds, products, product extensions, package designs through a thorough analysis of their chemical and physical properties related to the safety and environmental impact while in use. In addition, they also establish and maintain regulations that provide guidelines for manufacturing, storage, and distribution of raw materials and finished products. Regulations are set to tighten in the coming years, especially related to the toxicity of the materials.
• Collaborative research involving various stakeholders including health institutes is needed, which boosts innovation according to the disease outbreaks, and also the authenticity of the products.
• Promotional activities play an important role in boosting the sales of the products. In addition, increasing incidents as well as awareness about flu and contagious diseases also impact the sales trend.
• Market players also develop and sell dispensing systems in order to create a longer and stronger brand image, while providing the convenience of dispensation.
• As packaging designs have become an important factor of differentiation, the innovation of bottles and tubes is set to intensify in the coming years.
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Key players of Hand Sanitizers Market:
Key companies in hand sanitizers market held a major part of the total market share. These companies include Gojo Industries Inc.(U.S.), Proctor & Gamble (U.S.), Unilever (U.K.) and Reckitt Benckiser Plc (U.K.).
Reckitt Benckiser held the major market share for hand sanitizer globally. P&G was the second most dominating company, followed by Gojo Industries Inc.
Global hand sanitizer market is fragmented, with multiple regional level players as well as private label brands.
Other key players in the market are Chattem, 3M Company, Best Sanitizers Inc., The Dial Corporation, Nice Pak Products Inc. Skin Visible Inc. and others. These players held a Lion’s share of the hand sanitizers market.
Many local players tend to offer low priced products in order to mark their presence and compete with international players.
Key players such as GOJO Industries, Inc, Reckitt Benckiser, Chattem, P&G and Unilever are launching new products, partnering with organizations to spread awareness regarding hand care, and thus, adding to the market share and driving the market. Apparently, Gojo hand sanitizers are much popular to their credit.
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IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Material