Hand Sanitizer - Serbia

Serbia

Highlights

In Serbia, the revenue in the Hand Sanitizer market market is projected to reach US$4.37m in 2024.
It is anticipated that the market will experience an annual growth rate of 8.26% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue in this market, amounting to US$643.50m in 2024.
In terms of per capita figures, the revenue generated per person in Serbia is US$0.62 in 2024.
Serbia has witnessed a surge in demand for hand sanitizers due to increased awareness and precautionary measures taken by the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer market in Serbia has experienced significant growth in recent years, driven by changing consumer preferences and increased awareness of the importance of hand hygiene.

Customer preferences: In Serbia, as in many other countries, there has been a shift in customer preferences towards products that promote cleanliness and hygiene. This has been particularly evident in the Hand Sanitizer market, where consumers are increasingly seeking convenient and effective ways to keep their hands clean and germ-free. The demand for hand sanitizers has been further fueled by the ongoing COVID-19 pandemic, which has highlighted the importance of hand hygiene in preventing the spread of infectious diseases.

Trends in the market: One of the key trends in the Hand Sanitizer market in Serbia is the growing popularity of alcohol-based hand sanitizers. These products are known for their effectiveness in killing germs and are preferred by consumers for their quick-drying and non-sticky formulas. As a result, there has been a surge in the production and availability of alcohol-based hand sanitizers in the market.Another trend in the market is the increasing demand for travel-sized hand sanitizers. With the rise in international travel and the need for on-the-go hand hygiene, consumers are looking for portable and convenient options. Travel-sized hand sanitizers are compact and easy to carry, making them popular among frequent travelers and individuals who are constantly on the move.

Local special circumstances: Serbia, like many other countries, has implemented strict hygiene protocols and measures to combat the spread of COVID-19. This has led to an increased emphasis on hand hygiene and the use of hand sanitizers. The government and health authorities have also played a significant role in promoting the use of hand sanitizers through public awareness campaigns and educational initiatives.

Underlying macroeconomic factors: The Hand Sanitizer market in Serbia has been influenced by several macroeconomic factors. The country's growing economy and rising disposable incomes have contributed to increased consumer spending on personal care products, including hand sanitizers. Additionally, the availability of a wide range of hand sanitizer brands and products in the market has also fueled the demand.In conclusion, the Hand Sanitizer market in Serbia has witnessed significant growth in recent years, driven by changing consumer preferences and increased awareness of hand hygiene. The demand for alcohol-based hand sanitizers and travel-sized options has been particularly notable. The ongoing COVID-19 pandemic and the government's efforts to promote hand hygiene have further accelerated the growth of the market. With the country's growing economy and rising disposable incomes, the Hand Sanitizer market in Serbia is expected to continue its upward trajectory in the coming years.

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.