According to FutureWise analysis the market for hand hygiene in 2023 is US$ 7.27 billion, and is expected to reach US$ 12.42 billion by 2031 at a CAGR of 6.92%.
With the rising prevalence of infectious diseases like the COVID-19, it becomes extremely important to maintain overall hygiene, especially hand hygiene, which is one of the crucial factors that shall positively impact the hand hygiene market growth during the forecast period. The increase in the use of hand sanitizers, soaps, hand washes, disinfectants and rubs has propelled the proliferation of the market and it is expected to maintain this growth momentum owing to the recent COVID-19 pandemic where it is highly recommended to clean hands on regular intervals with disinfectants and alcohol-based hand sanitizers. As per some studies, over 75% of the general population use hand sanitizers. Out of these 75%, over 36% are male users while over 64% are female users. Additionally, with an increased influence of online commercials and social media, personal hygiene has become one of the top hand hygiene market trends which has propelled the use of hand sanitizers among customers.
However, there has been a lack of awareness regarding hand sanitation and hygiene, especially in the developing and underdeveloped regions. Furthermore, as per the data provided by the Global Handwashing Partnership, over 525,000 children die due to diarrheal disease every year, thus making it one of the primary reasons of child death in the world. This number is important because almost all the diagnosed cases of diarrhoea in children are primarily caused by infections and the most effective way of avoiding such infections is through maintaining hand sanitation by washing hands with soaps and sanitizers. Such a lack of awareness regarding the cleanliness of hands has resulted in some restrains in the growth of the market.
The global market is divided into product, distribution channel and region. The product segment is further bifurcated into gel sanitizers, foam, liquid and others. The gel sanitizers segment is predicted to dominate the market over the forecast period owing to its characteristics of providing convenience of easily penetrating the skin, thus eliminating most of the bacteria. The foam product is anticipated to record a substantial growth rate during the forecast period due to its characteristics of prolong stay on the skin, easy application and convenience of handling.