The coronavirus outbreak has impacted the global hand sanitizer market in a positive way. This is because of the rising demand for hand sanitizers in hospitals and public to increase personal safety and hygiene to prevent the infection of COVID-19. The leading players of the market are focusing on developing strategies to sustain the market growth in the post-pandemic market.
According to recent report by Research Dive, the global hand sanitizer market is expected to garner $14,521.7 million at a CAGR of 24.2% during the forecast period. The comprehensive report provides a brief overview on the current scenario of the market including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures which makes it easier and more beneficial for the new participants to understand the market.
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• Factor Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR garnered by the market during the pandemic. According to the report, the hand sanitizer market has recorded a CAGR of 24.2% during recent months, while it was expected to be only 22.7% in the pre-COVID-19 scenario. The reason is obviously the importance of personal hygiene and safety in medicals and public in view of increasing transmission of the highly infectious and fatal virus. This is the factor which has increased the demand of hand sanitizers.
• Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size has surpassed the pre-Covid-19 estimations. The real-time market size has reached a revenue of $3,181.1 million, while it was estimated to reach to $3,072.1 million in the pre-pandemic analysis. This positive affect can be attributed to the increasing spread of coronavirus and the need of personal hygiene to prevent the infection.
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Leading players of the market are focusing on different strategies to boost the market growth during the pandemic. For example, in June 2020, Procter & Gamble (P&G), a US-based multinational consumer goods corporation, has made an announcement to donate $10 million as well as to launch a new ‘safeguard sanitizer’, to fight against COVID-19 pandemic.
• Post Pandemic Insights
The report states that the hand sanitizers will be influential for the long run for ensuring safety and preventing re-occurrence of the disease even after the pandemic. The report also summarizes other important aspects of the key players including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments. New entrants and leading players are expected to bring in some newer innovative advances and rewarding opportunities for the market in next few years.
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