Outbreaks have always emerged great opportunities in the market. Same in the case of global hand sanitizer market which is expected to reach US $8.09 billion by the year 2025.
The world is surviving the international pandemic COVID 19 Corona virus which have proved to be a dangerous outbreak around the world putting many lives in danger. Since past many years humans have survived such attacks and made wiser steps in its prevention. Moreover many researchers have found out solutions to overcome the effects of such pandemics but the recent outbreak is lacking it. In order to prevent its infection from one person to another governments have imposed the lockdown across several nations to aid the isolation in order to inactivate the pathogens. The Corona virus is a disease which causes respiratory illness with symptoms such as cough cold and flu. In order to prevent its containment the World Health Organization (WHO) has released an advisory to maintain the hand hygiene by frequent hand washing activity for about 20 seconds and using hand sanitizers in absence of it.
As per the latest statistics obtained from the World Health Organization (WHO) on an average there are about 1914916 confirmed cases of Corona virus across the globe with 123010 deaths around the world. This a shocking number to measure the intensity of the outbreak around the world. To overcome its negative effects people have started using the hand hygiene products such as hand sanitizers which are proven to kill 99.99% of the germs present on the hands. Initially Hand sanitizers were used whether frequent hand washing cannot be done but the outbreak of the diseases have made people conscious about the hygiene making it a necessity among all the hand hygiene products. Due to the rising demand hand sanitizers have also been developed in several forms such as gel liquid spray foam and other products such as hand sanitizing wipes. They are now available in alcohol-free forms with various infused fragrances of essential oils and natural derivatives.
According to the report entitled “Global Hand Sanitizer Market Outlook 2025.” published by Bonafide Research the Global hand sanitizer market is expected to achieve a robust growth in next years due to the outbreak of the international pandemic Covid 19 accounting it to a market value of US $ 8.09 billion by the end of the year 2025. The market is expected to grow registering a compounded annual growth rate (CAGR) of more than 2% in the next five years. As per Vedant Pandya Research Analyst at Bonafide Research “The Global hand sanitizer market was growing at a slower pace since past years. The reason may be unawareness and less preference in some parts of world but with the outbreak of the international pandemic COVID 19 the market seems to grow in next years with a period of recession in between”.
Furthermore many companies have increased their production capacities in order to overcome the emerging demand in the market while many companies have come up with donations to the needy. For example Perrigo donated 500K bottles of hand sanitizers to the needy Firmenich increased it’s production capacity and donated hundred of bottles of hand sanitizers in hospitals Drummer’s donated sanitizers to the people in need Beauty brands such as L’Oréal started manufacturing of hand sanitizers in its plant to donate it in hospitals LVMH and Coty Inc. are using their factories to overcome the hand sanitizer production. Apart from these there are many other companies who have kept their core manufacturing aside and started manufacturing hand sanitizers to overcome the demand in the market. Moreover space companies such as SpaceX is also making and donating hand sanitizers to the person in need!! This shows the intensity of the demand for the hand sanitizers in the market and their growth in respective upcoming years.
Hence hand sanitizers have become an opportunity source for the players to grow its market in such difficult times. Besides this people have awakened about the hygiene and usage about the hand sanitizers which are also a driving factor. Thus the proverb proves that “great opportunities always comes from difficult times”.