According to a new report published by Allied Market Research, titled, “long lasting hand sanitizer market by nature, end user, and distribution channel: global opportunity analysis and industry forecast, 2021–2030,” the global long lasting hand sanitizer market size was valued at $11.8 million in 2020, and is projected reach $21.7 million by 2030, registering a CAGR of -3.4%from 2021 to 2030.
Hands are the major source of transmission of many kinds of bacteria, pathogens, and viruses that can cause different types of diseases. These diseases are caused by transmission of bacteria via hands through touching of eyes, nose, and mouth. These bacteria can cause diarrhea, intestinal problems, and respiratory problems such as COVID-19, which, in turn, drives the demand for hand sanitizers that effectively destroys microorganisms, viruses, and bacteria which cause several health issues. According to the WHO, around 420,000 deaths are reported every year, out of which, approximately 125,000 children under five years of age die due to food-borne illness. As a result, consumers are now becoming cautious regarding hygiene, especially for hands. Hence, consumer inclination toward health & wellness fuels demand for long lasting hand sanitizers, which is expected to accelerate growth of the market.
Long lasting hand sanitizers are a new addition to the sanitizer market and are made from ingredients that are slightly priced above conventional sanitizers, thus increasing the overall cost of the product for consumers. Conventional hand sanitizers that are made from alcohol are cost-effective and more readily available as compared to long lasting hand sanitizers. They have also been used for a very long period, giving them the benefit of consumer trust. Availability of conventional sanitizers in places such as pharmacy stores, convenience stores, and mom and pop stores makes these conventional sanitizers easily accessible to the consumers, which makes them more attractive thus increasing their sales. Furthermore, there is a limited awareness regarding long lasting hand sanitizers among consumers. Thus ready availability and greater awareness of conventional alcohol hand sanitizers has the potential to create barriers for growth of the long-lasting hand sanitizer market.
The global report is studied on the basis of nature, end user, distribution channel, and region. By nature, the market is segmented into alcohol-based and non-alcohol-based. By end user, it is studied across residential and commercial. On the basis of distribution channel, it is divided into online channels and offline channels.
On the basis of region, the market us studied across North America, Europe, Asia-Pacific, and LAMEA. North America led in terms of market share for 2020, followed by Europe. Novel innovations, extensive advertising and promotion, and increasing awareness regarding the product are expected to propel the market growth. China along with India and South East Asia have lucrative opportunities for the long lasting hand sanitizer players in the coming years.
Key Findings Of The Study
- Region wise, North America dominates, in terms of long-lasting hand sanitizer market share, however, Asia-Pacific is anticipated to have the highest CAGR during the forecast period.
- Depending on nature, the non-alcohol-based sanitizer dominated the market in 2020, and is expected to maintain the high share during the forecast period
- On the basis of end user, the residential segment had the largest market share, and is expected to continue to dominate the market in the forecast period
- As per distribution channel, the offline segment led in terms of market share of the global long lasting hand sanitizer market; however, the online segment is expected to gain good market share during the forecast period.
Some of the major players profiled for in the Long Lasting Hand Sanitizer market analysis include Cage Bio Inc., Esc Brands, LLC, Kea Biotech., Microbe Solutions, LLC, Novalent, Paul Hartmann AG, Resil Chemicals Pvt. Ltd., Scotmas Group, Touch Australia, and Zoono. Other prominent players analyzed in the report are Best Sanitizers, Inc., Gojo Industries, Inc, Henkel Corporation, Kutol Products Company, Inc., Reckitt Benckiser Group Plc, The Himalaya Drug Company, and Unilever Plc.