Allied Market Research recently published a report, titled, “Hand Sanitizer Spray Market by Nature (Natural, Synthetic, and Organic) and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2019–2026″. According to the report, the global hand sanitizer spray industry was pegged at $160.2 million in 2018, and is expected to reach $310.3 million by 2026, registering a CAGR of 8.7% from 2019 to 2026.
Incentives for market growth
Consumer inclination toward health & wellness, change in lifestyle and increase in health expenditure, and innovations in hand sanitizers drive the growth of the global hand sanitizer spray market. However, health hazards associated with hand sanitizers hamper the market growth. On the contrary, rise in number of millennial population and rise in social media marketing are expected to create lucrative opportunities in the near future.
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Major market players
- The Honest Company, Inc.
- Cleenol Group Ltd
- GOJO Industries, Inc.
- EO Products
- CleanWell, LLC,
- Jao Brand
- The Caldrea Company
- Hello Bello
- The Clorox Company
- Dr. Bronner’s
- Elyptol Australia Inc.
The synthetic segment dominated the market
By nature, the synthetic segment held the largest share in 2018, accounting for more than two-fifths of the global hand sanitizer spray market. This is owing to the fact that these products are easily available for its target customers at affordable prices and processed using different mixtures and proportion of chemical as well as natural cosmetic ingredients. However, the organic segment is expected to register the fastest CAGR of 9.8% from 2019 to 2026, due to surge in demand for various organic products from the target customers.
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Online segment to manifest the fastest CAGR through 2026
The online segment is expected to portray the fastest CAGR of 10.1% during the forecast period, owing to increase in rate of Internet penetration across the key regions. However, the offline segment held the largest share in 2018, contributing to more than three-fourths of the global hand sanitizer spray market, owing to strong distribution channel coupled with extended product offerings facilitated by offline stores.
North America held the lion’s share
The global hand sanitizer spray market across North America held the largest share in 2018, contributing more than one-third of the market, owing to rise in awareness about the importance of being hygienic and increase in demand from various household and commercial sectors including restaurants, schools, and hospitals. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 10.0% by 2026, owing to surge in number hygiene-oriented customers, increase in disposable income, and rise in number of millennial populations.
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