Hand sanitizers have gained momentum around the globe post-COVID-19 pandemic. Initially, the product was only primarily used in the healthcare industry to prevent infections. Besides, it was used sporadically in manufacturing, travel and tourism, food industries, and retail customers, amongst others. Due to the ongoing crisis, the demand for hand sanitizers is escalating tremendously and is depicted to proliferate furthermore in the future.
Due to the gap in the supply and demand of hand sanitizers amidst the emergency outbreak of COVID-19, the distilleries around the globe started producing hand sanitizer to fight against the coronavirus. Major distillers like Anheuser-Busch and Bacardi have been turning their manufacturing capacities, as well as, raw materials to make hand sanitizers, as mentioned in an article in the New York Times. However, the Food and Drug Administration (FDA), in guidance, put in some restrictions. Furthermore, new companies have been eyeing the market, which has low entry barriers and a ramped-up demand.
Apart from the distilleries, the academic institutions contributed the scientific and theoretical evidence of the efficacy of handwashing through their modern behavior change theories and have also started preparing sanitizers to back up the shortage. For instance, as prescribed by WHO, the Indian Institute of Technology Delhi has prepared alcohol-based hand sanitizer. Likewise, the governmental and multilateral agencies led global guidelines and supported the implementation of various programs on handwashing. These initiatives and programs to support the usage of hand hygiene encouraged retailers to manufacture and deliver hand sanitizers globally and, at the same time, build substantial brand equity for themselves among the end-users worldwide.
A recent report from Inkwood Research shows that there is a significant jump in the sales of hand sanitizers amidst the pandemic. All reports have been reassessed to take into account the impact of this unprecedented crisis on the revenue of the market.