South Korea Hand Sanitizer Market Size To Grow At A Steady Pace In The Forecast Period Of 2023-2028
The ‘South Korea Hand Sanitizer Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea hand sanitizer market, assessing the market on the basis of its segments like product, type, end use, and distribution channels.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
South Korea Hand Sanitizer Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
The increasing concerns pertaining to the importance of improving hygienic standards in South Korea is providing impetus to the sale of hand sanitizers in the country. The COVID-19 outbreak has induced heavy consciousness among the population which has been fuelling the demand for hand sanitizers in buildings and public places across regions such as Busan and south eastern Daegu.
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Increasing application of hand sanitizers across the commercial sector, owing to stringent sanitation regulations in hotels, restaurants, resorts, cafes, offices, and shopping complexes, among others, is bolstering the South Korea hand sanitizer market growth. Meanwhile, hand sanitizers are also gaining traction across schools and colleges, owing to the increasing hygiene awareness among students.
Hand sanitizers bring convenience to consumers as they can be used at any location and at any point of time of the day unlike the conventional methods of hand washing and drying which are time consuming and require water. In addition, hand sanitizers are small and can be carried easily. In this regard, the increasing awareness pertaining to the advantages offered by this product is further augmenting the South Korea hand sanitizer market.
South Korea Hand Sanitizer Industry Definition and Major Segments
A hand sanitizer is a type of disinfectant commonly used in the form of a gel or spray, which kills bacteria, viruses, and various types of harmful pathogens and contaminants found on human skin. Sanitizers can be alcoholic or non-alcoholic and have an ability to kill around 99.99% of contaminants.
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Based on product, the market can be segmented into:
On the basis of type, the market can be bifurcated into:
• Alcohol Based
• Alcohol Free
Based on end use, the market can be divided into:
• Household Purpose
By distribution channel, the market can be categorised into:
• Departmental Stores
• Pharmacy Stores
South Korea Hand Sanitizer Market Trends
The key trends in the South Korea hand sanitizer market include the growing awareness about the risk of COVID-19 variants such as Omicron among the population. Surge in the fear of viral infections is pushing the sale of hand sanitizers in the country. In addition, stringent regulations of the government aimed towards bolstering the preparedness against the potential outbreak of another wave of the COVID-19 pandemic are expected to increase the demand for the product.
The growing research activities by the major Korean pharmaceutical companies to provide hand sanitizers with enhanced quality and skin-friendly properties are crucial trends in the South Korea hand sanitizer market. Improved accessibility of the product across online platforms is propelling the market revenue by increasing the sale of high-grade sanitisers with innovative scents and packaging.
Over the forecast period, the increasing urban population in the country is expected to generate a greater demand for hand sanitizers. In addition, strong presence of social media users is leading to an efficient and improved promotion channel for manufacturers. Further, the increasing prevalence of chronic illness, coupled with surging geriatric population, is escalating the sale of hand sanitizers across healthcare units and homes in order to prevent cross-contamination.
Key Market Players
The major players in the South Korea hand sanitizer market report are:
• Reckitt Benckiser Group plc
• 3M Co.
• Aekyung Industrial Co., Ltd.
• DBK Korea Co, Ltd.
• Lion Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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