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Latin America Hand Sanitizer Market By Product (Gel, Foam, Spray and Others), By Distribution Channel (Online Store, Departmental Store, Pharmacy Store and Others), By End Use (Restaurants, Schools, Hospitals, Household Purposes and Others) and Country, Forecast to 2028

Published: March, 2023
ID: 10522
Pages: 130
Formats: report pdf report excel report power bi report ppt

Latin America Hand Sanitizer Market Size (2023-2028)

The Latin America Hand Sanitizer Market is expected to grow at a compound annual growth rate (CAGR) of 15.71% during the forecast period of 2023-2028, owing to the factors such as the growing number of corona cases in Brazil and increasing demand for hand sanitizers in Latin America.

Hand sanitizer is an antiseptic solution that is applied to hands in place of soap and water to avoid the spread of viral infections that can be caused through hand transmission.

Market Drivers:

One of the major driving factors that help the growth of the Latin America Hand Sanitizer market is the increasing number of coronavirus cases, especially in Brazil. Increasing usage of hand sanitizers amid COVID-19, in turn, increased the revenue rate of hand sanitizers, which is another major growth factor of Latin America market.

Rising awareness programs by the government authorities about the benefits of sanitizers among the people are also one of the prominent supporting factors of Hand Sanitizer market in Latin America.

Market Challenges:

Factors such as health hazards due to excessive usage or intake of these hand sanitizers are among the major limiting aspects of Latin America Hand Sanitizer market.

SEGMENTATION ANALYSIS

The Latin America Hand Sanitizer market is segmented on the basis of product, distribution channel, and geography.

Based on the Product

  • Gel
  • Foam
  • Spray
  • Other products.

The gel-based products hold a substantial share of the market as these are easily available in the market and also it requires less time to eradicate most of the germs effectively than any other segments. Among the others, the foam-based segment is likely to augment in terms of market value as they immediately cling to hands while applying and are portable in comparison to products like gel or spray pumps, which offer more convenience to the users.

On the basis of the Distribution channels

  • Online store
  • Departmental store
  • Pharmacy store
  • Others

Among these, the departmental store segment holds the prominent share of the market since most of the customers prefer to purchase from stores as they offer more discounts to the customers, supporting the segment growth.

On the basis of End-use

  • Restaurants
  • Schools
  • Hospitals
  • Household purposes
  • Other applications

Latin America Hand Sanitizer Market Regional Analysis

In the Latin America region, Brazil holds the major share of the market of hand sanitizers owing to the increasing number of COVID-19 cases in the country, which is also estimated to grow further during the foreseen period. This country has experienced the greatest number of cases diagnosed among the other countries in the region. Furthermore, people started using these hand sanitizers that will be helpful to eradicate the spread of the coronavirus, resulting in exponential growth in the consumption of the same.

Latin America Hand Sanitizer Market Key players:

Some of the key players of Latin America Hand Sanitizer market are Henkel AG and Company, Vi- Jon, Chattern Inc, Best Sanitizers Inc, Kutol, GOJO industries Inc, Unilever, Reckitt Benckiser Group Plc, Procter and Gamble, The Himalaya Drug Company and other major key players competing for each other by providing new product innovations.

COVID-19 impact on Latin America Hand Sanitizer Market

Due to the coronavirus, several companies have recorded financial crises and are not able to run their manufacturing units because of the loss that has occurred in the business. The COVID-19 has impacted sectors like restaurants, manufacturing units, flights, and traveling and so many sectors to halt their services. Latin America Hand Sanitizer market has increased at an impeccable rate during the coronavirus pandemic period as there is increasing initiatives taken up by the government authorities as well as increasing demand for hand sanitizers in order to eradicated the risk of spreading of this virus. As per the analysis, industry experts are predicting that the regional market will increase much further with the surge in the sales of sanitizers across the region which further propels the growth of the market in the envisioned timeframe. As the companies have started their manufacturing units, the market of Latin America Hand Sanitizer will increase much further in terms of revenue rate.

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