Global Hand Sanitizer Market
The global hand sanitizer market has witnessed a substantial growth in the past year owing to the outbreak of the novel coronavirus. Many government authorities as well as public health organizations have been promoting the benefits offered by the usage of the products in the global hand sanitizer market. The COVID-19 pandemic has emphasized the importance of washing hands as a simple and efficient solution to stop the spreading of the virus. Various health organizations across the world have promoted using hand sanitizers as one of the most important and primary protocols for stopping the virus from spreading, along with social distancing norms. Products in the global hand sanitizer market present a cost-effective and portable solution for the increased requirement for hand washing and cleaning on the go. Numerous governments around the world have also launched various initiatives for promoting the adoption of hand sanitizers during the pandemic.
Increasing demand for organic and natural personal hygiene products, including hand wash liquids and hand sanitizers has been noticed in the recent times. This trend is also expected to benefit the upward trajectory of the global hand sanitizer market in coming years. Rising preference and ease of access provided by various online and web-based e-commerce portals has also been supportive for the growing global hand sanitizer market. However, alcohol-free products that feature low effectiveness and risk of counterfeit products are some of the key barriers for the growth of the global hand sanitizer market in coming years.
Global Hand Sanitizer Market: Overview
The growing focus on healthcare and hygiene has been the foremost driver of demand within the global hand sanitizer market. The presence of a seamless healthcare sector that focuses on informing and educating the masses has a created humongous opportunity for market growth. Several people count on sanitizers for their daily hygiene needs, and this trend shall pave way for new technologies in the market. In this context, it is legit to expect that the global hand sanitizer market would grow at an unprecedented pace in the forthcoming years. The use hand sanitizers by youngsters is a key dynamic of market growth.
In this review, Transparency Market Research brings out the significance of key factors responsible for the growth of the global hand sanitizers market. The total volume of revenues within the hand sanitizers market is slated to touch new heights, and supermarkets are glutted with these products. Stockpiling of hand sanitizers has become a global trend over the past few decades, and this has created havoc across supermarkets. A number of retail outlets have run out of hand sanitizers, and this trend portrays the buying patterns of the consumers in times of this pandemic.
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Global Hand Sanitizer Market: Notable Developments
As the demand for hand sanitizers increases, manufacturers have to look for quick-win solutions to deal with market conditions. Several countries have gone under lockdown which has affected supply chains and procurement avenues in the market. Therefore, vendors in the global hand sanitizers market are looking for alternate supply chains that can help in procuring raw materials and supplying finished products. The ability of hand sanitizer manufacturers to capitalise on the unmet market needs could help them earn humongous revenues.
Manufacturers are relying on strengthening their digital core to enhance their production and supply standards. The development of a digital supply network that connects manufacturers, suppliers, and stakeholders has helped market vendors in reconciling their growth dynamics. Furthermore, investments provided by government entities to accelerate the process of manufacturing has also benefitted the market vendors.
Key Market Players:
- Procter & Gamble
- GOJO Industries, Inc.
- The Himalaya Drug Company
- Henkel AG & Company
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Global Hand Sanitizer Market: Growth Drivers
- Outbreak of the Corona Virus Pandemic
The alarming rate of the spread of the corona virus, also known as Covid-19, has created a large playfield of opportunities for market growth and maturity. The past few weeks have witnessed unexpectedly high demand for hand sanitizers as panic related to the virus rises. A large population of people has begun stockpiling hand sanitizers, toilet paper, and several other important items. This trend has put manufacturers of hand sanitizers under tremendous pressure to meet the humongous demand. There is little contention about the growing value of the hand sanitizers market. The trend of panic buying, as a result of the outbreak of the covid-19 pandemic, has affected the inventories of manufacturers of sanitizers.
- Recommendations and Guidelines Provided by WHO
Healthcare experts and the WHO have released guidelines to prevent people from becoming a means to communicate or contract the virus. These guidelines have been published across public portals, online channels, and several other platforms. The government is also making ardent efforts to popularise hand sanitizers in times of this pandemic. Use of hand sanitizers that contain at least 70% alcohol are attracting huge demand from the masses in recent times. Moreover, the recommendation of the WHO to constantly sanitize the hands after touching untidy surfaces has given a thrust to the growth of the global market. The overall value of the global hand sanitizers market would increase in the times to follow.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.