APAC's hand sanitizer market tipped to grow 12.8% yearly
Gel-based products are currently the most popular, but foam-based sanitizers are on the rise.
Asia Pacific's hand sanitizer market is projected to record a compound annual growth rate (CAGR) of 12.8% from 2020 to 2025 due to a rise in governments' awareness programmes of its use to fight the COVID-19, according to a report from Market Data Forecast.
The market is also enjoying growth from an growing prevalence of the pandemic in countries such as India, Japan and China, as well as a rising awareness on the importance of hygiene and sanitazion.
However, an availability of cheap and duplicate hand sanitizers and the health hazards associated with chemical ingredients that are used in such products are holding back its growth.
The products are sold the most in department store, as they offer attractive discounts to customers. Gel-based products were also the most popular due to their availability and convenience. However, the foam-based segment is tipped to grow the most.
Furthermore, China holds the major share of the market due to a higher number of cases across the nation since the virus was first identified.
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