The global Impact of COVID-19 on hand sanitizer market size is likely to gain traction from the outbreak of Covid-19 pandemic. It has resulted in the increasing demand for personal hygiene products, namely, hand wash, soaps, tissue papers, and sanitizers worldwide. This information is given by Fortune Business Insights™ in a newly published report, titled, “Impact of COVID-19 on the Global Hand Sanitizer Market Size, Share, Industry Analysis and Regional Forecast.”
The report further mentions that the Impact of COVID-19 on hand sanitizer market size was anticipated to reach USD 1.35 billion in 2020 before the Covid-19 outbreak. However, on account of the present scenario, it is likely to generate USD 1.87 billion this year. In addition to this, it would rise tremendously from an annual growth rate of 5.06% to 45.71% in 2020.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
This Report Addresses the Following Questions:
- Which strategies are being followed by industry giants to intensify competition?
- What are the crucial steps taken by the governments to lower the impact of Covid-19 on the market?
- Which segment is likely to dominate the market backed by the outbreak?
- What are the significant opportunities and challenges that the market would face owing to the outbreak?
Some of the Most Vital Effects of Covid-19 Pandemic on the Market:
- Shortage of hand sanitizers owing to the panic-buying practices of the masses, especially in countries, such as the U.K., Spain, Italy, and the U.S.
- Numerous manufacturers are inclining towards the hand sanitizer making business to cater to the growing demand from the consumers worldwide.
- Many retailers have begun limiting the purchase of hand sanitizers. They are implementing the maximum purchasing quantity for per person to only two.
- A large number of vendors present in the e-commerce platforms, such as Amazon and eBay are hiking the prices of essential commodities, including hand sanitizers.
- Consumers nowadays are shifting rapidly towards alternate products, namely, hand washes and soaps stoked by the guidelines provided by prominent government bodies, such as the Centres of Disease Control and Prevention (CDC).
- There may be a delay in the manufacturing of technologically innovative and organic personal care products.
Rising Awareness about Personal Hygiene Productsin Many Regions to Aid Growth
North America procured USD 485.59 million in 2019 in terms of revenue and occupied around 38% of the global market. As per one of our analysts, “The level of exposure experienced by every region will vary.” Several factors are responsible for the same. The governments of many countries are taking various initiatives to reduce the impact of Covid-19 pandemic. Besides, the number of awareness programs regarding personal hygiene products in rural areas, as well as import & export activities would contribute to the varying levels of impact of this pandemic worldwide.
Industries Shift towards Sanitizer Business to Cater to the Growing Needs
The outbreak of Covid-19 pandemic is resulting in the rapid shift of a large number of companies, such as agriculture, beauty products, skincare, and liquor in producing sanitizers to meet the increasing demand. Below are a couple of the most recent industry developments:
- April 2020: John Distilleries, a producer of distilled beverages headquartered in Bengaluru, begun producing hand sanitizers at its distilleries in Goa, Davanagere, and Bengaluru. Its main aim is to prevent the short supply of the product owing to the Covid-19 pandemic. It has also planned to donate hand sanitizers to healthcare institutes.
- March 2020: The American liquor industry and craft breweries started taking initiatives as the shortage of hand sanitizers is surging. They have paused the manufacturing of beverages and have started producing sanitizers Some of the distilleriesare selling their sanitizers to the masses to not only cater to the growing needs but also to keep their staff paid. However, some other distillerieschose to deliver their sanitizing products free of cost to businesses, critical facilities, and first responders.
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Fortune Business Insights™ lists out all the hand sanitizer companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Reckitt Benckiser (U.K.)
- Gojo Industry Inc. (U.S.)
- Henkel AG & Company (Germany)
- Himalaya Global Holdings Ltd. (India)
- Unilever Plc. (U.K.)
- Bacardi Limited (Bermuda)