Pune, Maharashtra, October 22 2020 (Wiredrelease) Graphical Research –:A pressing supply chain disruption triggered by COVID-19 outbreak is likely to have an influence on Asia Pacific hand sanitizer industry outlook. Awareness campaigns undertaken by NGOs, government organizations and other stakeholders pertaining to “proper handwashing” with suitable concentration of alcohol-based sanitizer will potentially muster up the confidence of hand sanitizer manufacturers in APAC.
It is pertinent to mention that several companies have forayed into the hand sanitizer market, witnessing an influx of manufacturers in Asia Pacific. So much so that governments are giving the green signal for regulatory passage and permissions to rev up the production of hand sanitizers.
Request for a sample of this report @ https://www.graphicalresearch.com/request/1412/sample
With India and China at the helm, other countries are likely to follow the suit as these emerging economies have ramped up the production of hand sanitizers and have provided favorable business environments for the stakeholders.
Mega-trends are expected to be witnessed in Asia Pacific that will redefine hand sanitizer market outlook in the next six years. According to a research report, Asia Pacific hand sanitizer market size is projected to exceed US$770 million by 2026.
Alcohol-based hand sanitizer to spearhead the trend
Alcohol-based hand sanitizer products are up and running and have set the mega-trend in the landscape. Alcohol-based hand sanitizers have the innate capability of killing germs, bacteria and other viruses and have received the backing of the WHO and CDC. Alcohol-based hand sanitizer segment is expected to grow at a CAGR of around -2.2% through 2026.
Several distribution channels have also exhibited traction for alcohol-free sanitizer as it has meager chance of fire hazards and are non-damaging. Alcohol-free sanitizer expanded at a robust CAGR of 7% in 2019, similar growth trajectory is projected through 2026.
Retail stores eye to grab the opportunity
The year 2020 and beyond are expected to provide opportunities galore for retail stores in terms of the sale of hand sanitizer. Availability of retail stores and a leeway of buying hand sanitizers on the go by paying a visit at these stores have augured well for the retail stores distribution channel. Retail segment is expected to expand at a CAGR of over -2.5% through 2026.
Retailers are expected to face tough competition from pharmaceutical stores and online platforms. A large pie of market share will be attributed to pharmaceutical stores in light of the wide availability of hand sanitizer for both pubic and healthcare professionals.
Decision makers envisage online platform as a viable mode to expand their footfalls in Asia Pacific as the region continues to reel under the COVID-19 pandemic. End-markets have exhibited profound inclination towards e-commerce following the fallout of outbreak and consumer pattern towards online mode is likely to be witnessed the next half-a-decade. The online platform segment attracted over US$42 million in 2019, mainly credited to discount offers and seamless supply chain process.
Japan to be replete with investments
While India and China have led from the front in APAC hand sanitizer industry, Japan has received due attention from the decision-makers. For instance, a Japanese-based company Shiseido rolled out a new hand sanitizer (designated quasi drug) in April 2020 to bolster its product pipeline.
Not to mention an upsurge in awareness among healthcare professionals and end-users pertaining to hygiene has played a key role in augmenting the production of hand sanitizer in the East Asian country. Japan hand sanitizer market share witnessed a double-digit growth and was pegged at over 27% in 2019.
Stakeholders perceive India as a lucrative hub to expand their penetration in untapped areas as the South Asian country continues to be marred with an unprecedented number of COVID-19 cases. India hand sanitizer market is likely to grow at CAGR of -1% through 2026, majorly attributed to favorable governments’ policies on personal hygiene products.
Gel hand sanitizer grows in prominence
Popular as a cost-effective and convenient product, gel hand sanitizer is witnessing a compelling demand among end-users. Availability at various distribution channels and easy access have augured well for forward-looking companies in APAC hand sanitizer industry.
Palpable use of gel hand sanitizer to effectively kill viruses and germs has accentuated production of the sanitizer. In terms of revenue, gel hand sanitizer segment registered around US$104 million in 2019, similar projection is likely to be witnessed in the next six years.
Presence of forward-looking companies has boded well for APAC hand sanitizer market outlook as they have upped R&D activities to roll out innovative products. For instance, ITC’s hand sanitizer brand Savlon rolled out a pend-shaped fine spray hand sanitizer to expand its customer reach to children.
Browse key industry insights along with Full TOC @ https://www.graphicalresearch.com/table-of-content/1412/asia-pacific-hand-sanitizer-market
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
Contact Us:
Parikhit B.
Corporate sales,
Graphical Research
Email: [email protected]
Web: https://www.graphicalresearch.com
This content has been published by Graphical Research company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at [email protected].
