The report presents a comprehensive research of the global hand sanitizer market by product (gel, foam, spray, and wipes) and by end-user (commercial, residential, and institutional). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: rise in organized retail in emerging markets
The last decade has witnessed an exponential development in the retail industry in developed economies and in potential emerging markets. In countries such as China and India, the percentage of organized retail was lower than 25% in 2017. The advent of organized retail format and the entrance of many national and international vendors will drive growth in the hand sanitizer market in these countries to flourish during the forecast period. The introduction of organized retail has helped the leading players to extend their product lines and offer products in different quantities, packages, and flavors.
According to a senior analyst at Technavio for health and wellness research, “Organized retail has directed the focus to different hand sanitizer variants and ingredients. The players in the market can bring about further developments in product differentiation and value proposition, enabling them to meet the need of consumers in the market, and survive the stiff competition in the market from unorganized retail. Players are also focusing on store renovations and product assortments to provide a better in-store experience to customers.”
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Market trend: digital and social media marketing
Players in the market were affected by several changes in the promotion and marketing strategies due to the significant rise in Internet penetration and the use of mobile applications. In countries such as the US, the conventional marketing channels along with social media have proven to be a leading platform for product marketing and brand association. Currently, such campaigns and activities are conducted across various digital platforms. The prominent players in the market, due to its wide customer reach and zero cost of marketing and promotional activities, have a strong digital media presence that helps them to effectively market and acquire potential customers. Digital marketing and social media platforms are expected to become key factors contributing towards the growth of the market in the next five years.
Market challenge: low product penetration in rural areas
The low product penetration in rural areas of developing nations such as India, China, and other South-East Asian countries is affecting the global hand sanitizer market. The rural population of these countries is becoming increasingly conscious of the prevalence of several diseases. However, products such as hand washes and sanitizers still have a low rate of adoption rate among rural customers.
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