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April 13, 2020
By: Fact.MR
The global hand sanitizer market is set to surpass a value of ~$1.4 billion in 2020 and is anticipated to cross ~$2.8 billion during the forecast period 2020-2030. The demand for gel-based sanitizer is on the rise as compared to foaming or spray sanitizer. Thus, manufacturers are focusing on developing gel-based sanitizers as they are widely used in multiple end-use industries. With the increased penetration of the online sales channel, manufacturers are taking advantage of opportunities arising from e-commerce platforms.
Further, prominent manufacturers are adding different fragrances to their products to increase the market share. However, due to uncertainties caused by the outbreak of coronavirus, the supply of hand sanitizer has been low, thereby forcing manufacturers to increase their production. The newest report by Fact.MR estimates that the instant hand sanitizer gel will account for more than 36% of the total global value share and is projected to grow at a value CAGR of 5.1% during the forecast period 2020-30.
Key Takeaways of Hand Sanitizer Market
“The demand for hand sanitizers in the global market demonstrates prolific growth in the future. The rising need for clinical hand hygiene products owing to ongoing COVID-19 pandemic has compelled manufacturers to ramp up their production in order to cater to the demand for hand sanitizers globally” said a Fact.MR analyst.
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