Hand Sanitizer - Guatemala

Guatemala

Highlights

In Guatemala, the revenue in the Hand Sanitizer market market is projected to reach US$7.49m in 2024.
It is anticipated that the market will experience an annual growth rate of 6.06% (CAGR 2024-2029).
When compared to other countries worldwide, the United States generates the highest revenue in this market, amounting to US$643.50m in 2024.
Taking into account the total population figures, the per person revenue in Guatemala is estimated to be US$0.41 in 2024.
Guatemala's hand sanitizer market is witnessing a surge in demand as consumers prioritize hygiene and health amidst the ongoing pandemic.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer market in Guatemala has been experiencing significant growth in recent years.

Customer preferences: Customers in Guatemala are increasingly concerned about personal hygiene and the spread of germs, which has led to a growing demand for hand sanitizers. The convenience and effectiveness of hand sanitizers in killing germs quickly and easily have made them a popular choice among consumers. Additionally, the ongoing COVID-19 pandemic has further heightened awareness of the importance of hand hygiene, driving even more demand for hand sanitizers.

Trends in the market: One major trend in the Hand Sanitizer market in Guatemala is the increasing popularity of natural and organic hand sanitizers. Consumers are becoming more conscious of the ingredients used in personal care products and are seeking out products that are free from harsh chemicals. As a result, there has been a rise in the demand for hand sanitizers made from natural and organic ingredients.Another trend in the market is the growing availability of hand sanitizers in various formats and sizes. In addition to traditional gel-based hand sanitizers, there has been an increase in the availability of spray, foam, and wipe formats. This allows consumers to choose the format that best suits their needs and preferences.

Local special circumstances: Guatemala has a relatively high population density, especially in urban areas. This, combined with the lack of access to clean water and sanitation facilities in some regions, has contributed to the increased demand for hand sanitizers. Hand sanitizers provide a convenient and portable solution for maintaining hand hygiene in situations where access to water and soap may be limited.

Underlying macroeconomic factors: The Hand Sanitizer market in Guatemala has also been influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in a higher purchasing power and an increased willingness to spend on personal care products, including hand sanitizers.Furthermore, the COVID-19 pandemic has had a significant impact on the market. The government and health authorities have emphasized the importance of hand hygiene in preventing the spread of the virus, leading to a surge in demand for hand sanitizers. This increased demand is expected to continue even after the pandemic as consumers have become more conscious of the importance of hand hygiene.Overall, the Hand Sanitizer market in Guatemala is experiencing growth due to customer preferences for convenient and effective hygiene products, the popularity of natural and organic options, and the increased emphasis on hand hygiene during the COVID-19 pandemic. The market is expected to continue growing in the coming years as consumers prioritize personal hygiene and the prevention of the spread of germs.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.