Impact of the Covid-19 Outbreak on Global Hand Sanitizers Market
Advent of global pandemic, COVID-19 has resulted in creating a global crisis across the world. With increasing number of infected cases and fatalities across the world, COVID-19 outbreak is creating chaotic environment thereby resulting in advent of global rescission. With rising number of cases, the global hand sanitizers market is getting affected in many ways. Few COVID-19 impacts on global hand sanitizers market have been discussed below:
Hand sanitizers demand has witnessed an exponential growth in last couple of months. The outbreak of global pandemic, Covid-19 in December 2019, has resulted in consumers getting more aware about the usage of hand sanitizers. Many MFCG companies are ramping up the production line of hand sanitizers in order to meet the global demand. Additionally, companies are creating awareness by running awareness campaigns regarding proper usage of health and hygiene products. For instance, Unilever Group is advertising its hand sanitizers in national newspapers, online ad campaigns along with precautionary measures on the onset of Covid-19 crisis.
Additionally, many big companies that are not into the hand sanitizers market are also entering into production of sanitizers in order to meet the humongous demand of hand sanitizers. For instance, in March 2020, LVMH, a French based luxury conglomerate entered into the production of hand sanitizers. The company is using its perfume and cosmetics factories for manufacture of hand sanitizers for France authorities along with Assistance Publique-Hôpitaux de Paris, one of the largest hospital systems in Europe. As alcohol being a key ingredient in hand sanitizers, many breweries and distillers in US and in European countries have started production of hand sanitizers in order to meet the growing demand for hand sanitizers. For instance, Caledonia Spirits, Hotel Tango Distillery, Durham Distillery and many among others are some of the US based distilleries that have started production of hand sanitizers. Additionally, many private label companies and tech startups are shifting from its core businesses towards production of hand sanitizers. For Instance, AirCo, an US based startup that develops processes to use captured carbon dioxide to make liquor, shifted its efforts to manufacture hand sanitizer.
However, all these efforts remain useless until and unless the logistics concerns persists. Lack of availability of hand sanitizers in the retail outlets is by far the biggest concern due to worldwide lockdown. Covid-19 outbreak has created a panic situation among the population worldwide that has resulted in closure of retail outlets. As a result of this, consumers are facing hard times in purchasing of hand sanitizers. Apart from that, lack of availability of adequate labors, raw materials as well as logistics issues are some of the other major concerns that is slowing down the growth of hand sanitizers, despite having triple digit growth demand.
Online e-commerce platforms and home delivery channels are helping in providing doorstep delivery of essential products which includes the hand sanitizers. However, availability of limited stocks in online platform as well is a major concern that currently most e-commerce companies are facing. Therefore, despite having large number of orders, e-commerce companies are facing difficulties in timely delivery of hand sanitizers. Transportation issue due to lockdown is further delaying the delivery of much needed products. This is expected to slow down the growth rate of hand sanitizers market for next couple of months.