The Latin America hand sanitizer market is estimated to reach US$ 709.5 Mn in 2022 and is set to be valued at US$ 1,617.3 Mn by 2032. The market is likely to exhibit steady growth at a CAGR of 8.6% from 2022 to 2032.
Aloe vera-based natural hand sanitizers are becoming increasingly popular among consumers. These hand sanitizers are simple to make and manufacture as the essential components are widely available in the market and surrounding areas.
Furthermore, hand sanitizers containing plant-based ethanol components are thought to be safer than synthetic solutions, as they are devoid of hazardous chemicals. Synthetic hand sanitizer can cause rashes and allergies, and their chronic usage can lead to serious health problems. As a result, natural hand sanitizer is becoming increasingly popular in Latin America, says FMI.
In the next decade, companies in the Latin America hand sanitizer market are projected to benefit from increased demand for new and innovative products infused with natural components. Key manufacturers in the region are continuously involved in considerable research and development activities to offer safer products at discounted rates.
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Key Takeaways from the Latin America Hand Sanitizer Market Study
- Brazil accounts for a share of about ~37.7% in the Latin America hand sanitizer market and is set to exhibit growth at a CAGR of 6.0% during the estimated tenure.
- Mexico holds a share of 21.5% in the Latin America hand sanitizer market and is projected to witness growth at a CAGR of 8.4% during the evaluation period.
- Columbia is estimated to generate a share of 7.2% in the Latin America hand sanitizer market and is likely to show a CAGR of 10.5% during the assessment period.
- By product type, the instant hand sanitizer gels segment holds a considerable share of 75.5% in the Latin America hand sanitizer market.
- Based on end use, the institutional segment holds a significant share of 80.4% in the Latin America hand sanitizer market.
“Numerous firms have drastically changed their manufacturing lines to make alcohol-based hand sanitizers in response to the coronavirus outbreak caused by SARS and MERS across Latin America. Furthermore, well-known suppliers of raw materials have expanded their ability to produce ethanol or ethyl alcohol, as well as isopropyl components to enable the production of hand sanitizers across the region,” says a FMI analyst.
Competitive Landscape: Latin America Hand Sanitizer Market
Leading manufacturers present in the Latin America hand sanitizer market are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales of their products in the region.
Major players present in the Latin America hand sanitizer market are Himalaya Wellness Company, Reckitt Benckiser Group PLC, Companhia Nacional de Álcool, Procter & Gamble Company., Unilever PLC, The 3M Company, Essity AB, The Clorox Company, Sanofi S.A., and Gojo Industries Inc. among others.
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Get More Valuable Insights on Latin America Hand Sanitizer Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Latin America hand sanitizer market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Latin America hand sanitizer market based on product type (foaming hand sanitizers, foaming instant hand sanitizers, instant hand sanitizer gels, and spray hand sanitizers), active ingredient (ethanol or ethyl alcohol, benzalkonium chloride, and isopropyl), packaging type (flip-flop bottles, pump bottles, dispensing packets, and jars/cans), end use (institutional and household), pack size (below 100 ml, 101 ml-300 ml, 301 ml -500 ml, 501 ml & above), sales channel (hypermarkets/supermarkets, specialty stores, multi-brand stores, online retailers, and other sales channel) across various countries of Latin America.
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