Posted On: 2020-07-08
Hospitality sector acquired maximum revenue share in the overall Saudi Arabia hand sanitizer market in 2019 - 6Wresearch
Saudi Arabia hand sanitizer market is anticipated to grow at a significant rate in the forecast period. Expanding Privatization in health sector and rising confirm cases of coronavirus in the kingdom coupled with rising awareness among consumers about hand hygiene are the key factors that are expected to accelerate the hand sanitizer market in Saudi Arabia in the coming years. Furthermore, Under the aegis of Makkah Municipality, several agencies have joined hands in distributing free hand sanitizers among citizens, residents, and workers in the field in Makkah. The hand sanitizers have been manufactured in special laboratories which ensured conformity with the Saudi Food and Drug Authority (SFDA) standards
According to 6Wresearch, Saudi Arabia Hand Sanitizer Market revenue size is projected to grow at a CAGR of 3.5% during 2020–2026. From being considered as a luxury item for the well off population now to an essential item in every household this transition has multiplied the size of the market and manufacturers must aim at capitalizing this change due to rising confirmed cases of coronavirus. The COVID-19 pandemic has made people more alert and enforces them to use hand sanitizers regularly, leading to a surge in demand and price hikes in the country. Moreover, Sipchem and Sadara ethanol industry companies, aim to produce 100,000 kg of high-purity ethanol which can be used to manufacture hand sanitizers. This move is expected to meet the local demand in Saudi Arabia.
According to Prithu Chawla, Senior Research Analyst, Research and Consulting, 6Wresearch, “By product type, alcohol-based sanitizers are gaining traction due to the onset of coronavirus and proven efficiency of alcohol based sanitizers in reducing the transmission of pathogens and bacteria, and also growing awareness among the domestic household and commercial users would drive the growth of alcohol based hand sanitizers in the forecast period”. Moreover, there is a growing demand for natural ingredients-based hand sanitizers, which has spurred many companies to create products infused with Aloe Vera and tea. As a result, new avenues of expansion have been opened up for this market.
According to Urvashi Sharma, Research Associate, Research and Consulting, 6Wresearch, “By Distribution Channel, Offline segment dominated the overall Saudi Arabia Hand Sanitizer items market in 2019. Due to lockdown situation nationwide, online sites are facing huge traffic and demand due to easy availability and fewer chances of a person to person transmission of the virus. In addition to increase in penetration of mobile phones, rise in e-commerce sales, ease payment options, and attractive discounts as compared to stores would drive the aforementioned segment in coming years.
Some of the major companies in the Saudi Arabia Hand Sanitizer items market include Saudi Pharmaceutical Industry.,GOJO Industries, Inc., Reckitt Benckiser Group plc., Reza Hygiene and 3M.
"Saudi Arabia Hand Sanitizer Items market (2019-2026)" provides an in-depth analysis with 8 figures covered in 67 pages. The report estimates and forecasts the overall Saudi Arabia Hand Sanitizer items market by product types, end-user, distribution channel and countries. The report provides an unbiased and detailed analysis of the Saudi Arabia Hand Sanitizer Items market on-going trends, outlook, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.