Market Definition
Hand Sanitizers are chemical-based solutions used principally to kill or inactivate bacteria & viruses. These solutions are available in various forms, viz., gels, sprays, liquids, etc., and utilized widely to eliminate or reduce the spread of diseases & infections among people. Hence, manufacturers are actively producing hand sanitizers to meet the mounting consumer demand across Asia-Pacific while spreading awareness about the benefits of using them, thereby gaining swift momentum in the industry.
Market Insights
The Asia-Pacific Hand Sanitizer Market is projected to grow at a CAGR of around 19% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the growing instances of chronic diseases and increasing awareness among people about hygiene & cleanliness to avoid the spread of diseases, viruses, & bacteria. Besides, governments of different countries imposing stringent norms & regulatory standards to ensure utmost safety & sanitization across sectors like healthcare, hospitality, and food & beverages, among others, are also driving the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR | 19% |
| Country Covered | India, Japan, China, South Korea, Australia, Malyasia, Singapore, Thailand, |
| Key Companies Profiled | Reckitt Benckiser, Procter & Gamble, 3M, Unilever, GOJO Industries, Henkel, Amway, Kimberly- Clark Corporation, Clorox, Himalaya |
| Unit Denominations | USD Million/Billion |
Moreover, the growing need for a robust healthcare sector, especially after the advent of Covid-19 in 2020, is another prominent aspect propelling the demand for hand sanitizers and instigating the leading players to increase their production & distribution capabilities across Asia-Pacific.
Furthermore, the exponentially rising population and soaring inflow of tourists into Asia-Pacific are compelling governments of different regional countries to promote the adoption of hand sanitizers, which, in turn, projects remunerative prospects for the Asia-Pacific Hand Sanitizer Market during the forecast period.
Impact of Covid-19 on the Asia-Pacific Hand Sanitizer Market
The advent of Covid-19 in 2020 had a decelerating impact on most industries across Asia-Pacific, yet the Hand Sanitizer Market witnessed an upswing amidst the crisis. Given the severity of the virus, governments of different countries in the region had to impose stringent movement restrictions & lockdowns to curb the spread of this dreadful disease and took active steps to spread awareness regarding the significance of hygiene, which, as a result, augmented the demand for hand sanitizers.
Besides, since the duration of restrictions & lockdowns was uncertain, it led to a massive panic shopping by the people and portrayed a temporary hike in the market growth. Consequently, the market generated multiple growth opportunities for the leading players to increase their production & distribution capacities to meet the burgeoning consumer demand for hand sanitizers across Asia-Pacific. Since no one is sure about when the pandemic will end, the demand for hand sanitizers shall remain uplifted even in the coming years.
Market Segmentation
Based on End-Users:
Amongst all end-users, Hospitals dominated the Asia-Pacific Hand Sanitizer Market with the largest share in the previous few years, and the same trend is likely during 2022-27. It owes principally to the mounting government focus on developing the healthcare sector and strengthening the capabilities of hospitals, which, in turn, is stimulating the demand for hand sanitizers and augmenting the overall market growth.
Besides, the stringent government norms for ensuring safety & hygiene in hospitals are also playing a crucial role in augmenting the demand for hand sanitizers. This escalating need is principally for medical professionals to eliminate or reduce the spread of viruses, bacteria, & infections among people. Hence, based on these aspects, the hand sanitizer market in Asia-pacific is anticipated to witness an upswing across hospitals in the coming years.
Country Landscape:
Geographically, the Asia-Pacific Hand Sanitizer Market expands across:
Here, of all countries in Asia-Pacific, China is anticipated to dominate the hand sanitizer market with the largest share through 2027. It attributes principally to the country being the epicenter for the spread of the Covid-19 pandemic, which displayed an exponential demand for hand sanitizers, especially in 2020.
Besides, growing health consciousness among people and their mounting focus on maintaining hygiene & safety to eliminate or reduce the possibilities of infections, disease, & viruses are other prominent aspects displaying the burgeoning demand for hand sanitizers in China.
Moreover, the country has a vast manufacturing industry for hand sanitizers and is gaining swift traction in the production & distribution of these products across different countries. Furthermore, with the active participation of the leading players in expanding their product offerings across China and the rapidly growing personal care sector, the demand for sanitizers with essential oils & fragrances is gaining immense momentum in the country and, as a result, projecting lucrative growth opportunities for the market in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Asia-Pacific Hand Sanitizer Market is projected to grow at a CAGR of around 19% during 2022-27.
A. The imposition of stringent guidelines by governments of different countries in Asia-Pacific to maintain the hygiene & sanitization standards across sectors like healthcare, hospitality, and food & beverages, among others, is the key aspect anticipated to drive the Asia-Pacific Hand Sanitizer Market through 2027.
A. The rapidly growing concerns & consciousness among people, particularly after the advent of Covid-19 in 2020 is the key trend in the Asia-Pacific Hand Sanitizer Market.
A. Hospitals are anticipated to emerge as an area of remunerative opportunities for the leading players in the Asia-Pacific Hand Sanitizer Market in the coming years.
