Isopropanol and ethanol, which are present in hand sanitizers, rapidly denature proteins and remove lipid-based coats of certain viruses and bacteria.
The hand sanitizer Market is anticipated to explode in the next decade, with experts expecting an annual growth rate of 7.2% from 2023-2033 and a market worth of US$ 3.7 billion by 2033.
Increasing COVID-19 Infection Globally
Rising global awareness of cleanliness and personal hygiene is anticipated to raise demand for hand sanitizer, an antiseptic alternative to soap and water. It aids in the prevention of most of contagious diseases, such as COVID-19, norovirus, influenza, meningitis, hand, foot, and mouth disease, whooping cough, and methicillin-resistant Staphylococcus aureus (MRSA).
As people become more aware of how COVID-19 affects the population, they are more concerned about their own health and cleanliness. In the aftermath of the ongoing pandemic crisis, the hand sanitizer business has seen considerable developments worldwide.
However, due to supply chain interruptions and rising supply-demand gaps around the world, the sector is currently facing substantial problems in scaling up manufacturing capacity to assist relieve the supply constraint. To alleviate the supply constraint, numerous corporations have begun to use their mass production capabilities to produce these products for their home markets.
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In response to the COVID-19 pandemic, innovators, and entrepreneurs all around the world are revamping their business models. Breweries and distilleries are shifting their focus from spirits to hand sanitizers in the craft cocktail industry.
Key Takeaways
Key Development
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Hand Sanitizer Market Key Segment
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Apr 17, 2023