Growth and change of COVID-19 until 2030
The major players in the hand sanitizer market are Reckitt Benckiser Group, The Himalaya Drug Company, Procter and Gamble, Gojo Industry Inc., Henkel Corporation, Unilever, Vi-Jon Laboratories Inc., Chattem Inc.
New York, September 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Hand Sanitizers Global Market Report 2021: COVID-19 Growth And Change To 2030” – https://www.reportlinker.com/p06151543/?utm_source=GNW
, Best Sanitizers Inc. and Kutol Products Company.
The global hand sanitizer market is expected to grow from $ 2.59 billion in 2020 to $ 2.45 billion in 2021 at a compound annual growth rate (CAGR) of -5.4%. The decline in the market is mainly due to companies cutting back on production after meeting demand which increased exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $ 5.12 billion in 2025 at a CAGR of 20%.
The hand sanitizer market includes the sales of sanitizers and their related services. Disinfectants are substances or liquids used to clean objects to get rid of harmful microorganisms, including bacteria, and are based on toxic chemicals such as iodine, chlorine, phenol, and ammonium quaternary. compounds.
These are products that combine disinfectant and detergent and are used to remove dirt, reduce or kill bacteria and dissolve surface grease to at least 99.9%. Disinfectants used in many places including airports, hotels and restaurants, hospitals and other places for cleaning and protects against contamination.
The Disinfectants market covered in this report is segmented by Type into Quaternary Ammonium Compounds Based, Alcohol Based, Tridosan Based, Others and By Product Gel, Foam, Liquid, Others.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The health risks associated with occupational exposure to chemicals used in the manufacture of disinfectants are expected to limit the growth of the disinfectants market. the production of disinfectants, disinfectants and deodorants is likely to diagnose a 65% higher risk of thyroid cancer.
Thus, the occupational risk of chemical exposure during the production of chemical-based disinfectants is expected to restrain the development of the disinfectants market during the forecast period.
In March 2020, Agritek Holdings, Inc., an active US-based investor and operator in the legal cannabis industry, announced the acquisition of Full Spectrum Biosciences Inc., including the new line of hand sanitizer products. infused RehabRx CBG. The acquisition of Full Spectrum Biosciences Inc. is expected to provide Agritek Holdings, Inc. with an additional revenue platform, as the two companies plan to jointly launch hemp-based nutraceuticals for a growing consumer segment. With the COVID-19 outbreak, Full Spectrum Biosciences Inc. will launch aloe vera-based, cannabinoid-infused hand sanitizers containing CBG or cannabigerol. Full Spectrum Biosciences Inc. was founded in 2018 and focuses on the IP formulation of premium brands and genetic mapping of cannabis strains.
The coronavirus outbreak is a major driver of the disinfectants market growth during the period. Hygiene is an important part of being safe from coronavirus protection and for staying healthy.
Therefore, the demand for disinfectants has increased significantly after the COVID-19 outbreak around the world, since the virus outbreak in China, because disinfectants are effective against the coronavirus. The Center for Disease Control (CDC) recommends the use of alcohol-based hand sanitizers with more than 60% ethanol or 70% isopropanol, as the preferred form of hand hygiene in healthcare settings .
According to the United States Food & Drug Administration, more than 1,500 additional manufacturers have registered with the agency to meet growing demand for hand sanitizers. Therefore, the COVID-19 epidemic coupled with growing hygiene concerns is expected to increase the demand for disinfectants in the year 2020 and in the years to come.
Expanding production capacities and reorganizing businesses to meet the increased demand for hand sanitizers is a major trend shaping the sanitizer industry. For example, in March 2020, Bell International Laboratories, a vertically integrated cosmetics maker, announced the expansion of its production of alcohol-based hand sanitizers (gels and sprays) and is expected to produce 22 million units in April. .
Additionally, companies such as Radio Khaitan and Bacardi, makers of alcoholic beverages, have become producers of disinfectants amid the COVID-19 outbreak. This step was taken for corporate contributions during the coronavirus pandemic to meet the growing demand for hand sanitizers for health and hygiene.
Hence, the increase in production capacity and companies that enter into the production of hand sanitizers is a key trend for the growth of the sanitizers market.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.
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