North America Hand Sanitizer Market size is expected to reach USD 1,379.4 million by 2026, exhibiting a CAGR of 7.1% during the forecast period. The increasing prevalence of contagious viruses and diseases, like coronavirus, influenza, and Norovirus will spur demand for hand sanitizers, in turn, favoring the growth of the market, states Fortune Business Insights, in a report, titled “North America Hand Sanitizer Market Size, Share & COVID-19 Impact Analysis, By Product Form (Foam, Gel, Spray, and Others), Type (Alcohol-Based Sanitizer and Alcohol-Free Sanitizer), End-User (Schools, Restaurants, Hospitals, Households, Office Buildings, and Others), and Regional Forecast, 2019-2026.” The market size stood USD 851.1 million in 2019.
Increasing Popularity of E-commerce to Boost Market Sales
The increasing use of smartphones and the internet has led to the acceptance of e-commerce, especially in the time of the COVID-19 pandemic. The amplified purchasing of sanitizers on e-commerce platforms along with social distancing norms and lockdown by governments will have a tremendous impact on the global market. According to the United States Census Bureau, in August 2020, the data displayed that pandemic had a positive effect on the United States e-commerce, which would reach up to USD 211.5 billion with an increase of 31.8% from the first quarter, and a rise of 44.5% year-on-year. The high demand for sanitizers owing to the intensified cases of coronavirus will consequently shift consumers’ inclination toward e-commerce, thus propelling the market in the US.
Skyrocketing Sanitizer Demand to Favor Business During COVID-19
The increasing utilization of hand sanitizers owing to the precautionary measures to curb the spread of coronavirus will consequently improve the prospects of the market. According to the Center for Disease Control and Prevention data issued, in September 2020 stated that the use of alcohol-based hand sanitizer can help protect oneself and others from the coronavirus. Also, the heavy consumption of sanitizers in hospitals and healthcare facilities to maintain strict safety protocols in regards to covid-19 will further promote the market in the coming months.
High Extent of coronavirus to Aid Market Development in the US
The United States is the leading market because it the hardest-hit country by the Coronavirus. The need for hand sanitizers in the US will influence the healthy growth of the market. As per the data issued by the Worldometers, in September 2020, 7.09 million were infected and 205,478 deaths cases of Covid-19 were reported in the United States, making it one of the worst-hit countries in the world. The growing need for disinfection and sanitization in research laboratories, healthcare facilities, shopping malls, and retails will enable the speedy expansion of the market in the region. Canada is expected to exhibit a steady growth rate owing to the high priority on healthcare and hygiene in the country. As per the Canadian Institute for Healthcare Information, Canada is anticipated to make the spending of USD 200.6 billion or USD 5371.40 per person on healthcare.