Hand Sanitizer (Pharmacies) - Baltics

Baltics

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$2.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.35%, resulting in a market volume of US$3.88m by 2029.
In global comparison, most revenue will be generated China (US$385.20m in 2024).
In relation to total population figures, per person revenues of US$0.51 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Baltics is experiencing significant growth due to changing customer preferences and the impact of local special circumstances.

Customer preferences: Customers in the Baltics are increasingly prioritizing hygiene and cleanliness, leading to a higher demand for hand sanitizers. This shift in preferences can be attributed to a growing awareness of the importance of hand hygiene in preventing the spread of diseases. Additionally, the convenience and portability of hand sanitizers make them a preferred choice for customers, especially when they are on the go.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in the Baltics is the increasing popularity of natural and organic hand sanitizers. Customers are becoming more conscious about the ingredients used in their personal care products and are opting for products that are free from harmful chemicals. This trend is driven by a desire for safer and more sustainable options. Pharmacies are responding to this demand by stocking a wider range of natural and organic hand sanitizers to cater to their customers' preferences. Another trend in the market is the rising demand for hand sanitizers with moisturizing properties. Frequent use of hand sanitizers can lead to dryness and irritation, and customers are seeking products that not only kill germs but also keep their hands moisturized. Pharmacies are introducing hand sanitizers with added moisturizing ingredients such as aloe vera and glycerin to meet this demand.

Local special circumstances: The Hand Sanitizer (Pharmacies) market in the Baltics is also influenced by local special circumstances. One such circumstance is the region's cold climate. The long and harsh winters in the Baltics often result in dry skin, making hand sanitizers with moisturizing properties even more desirable for customers. Pharmacies in the Baltics are aware of this and are actively promoting hand sanitizers that provide hydration and protection against dryness.

Underlying macroeconomic factors: The growth of the Hand Sanitizer (Pharmacies) market in the Baltics can be attributed to several underlying macroeconomic factors. Firstly, the increasing disposable income of the population has made hand sanitizers more affordable and accessible to a larger segment of the market. As people have more money to spend, they are willing to invest in personal care products that promote health and well-being. Secondly, the COVID-19 pandemic has had a significant impact on the market. The heightened awareness of hygiene and the need for hand sanitizers to prevent the spread of the virus has led to a surge in demand. Pharmacies in the Baltics have witnessed a sharp increase in sales of hand sanitizers as customers prioritize their health and safety. In conclusion, the Hand Sanitizer (Pharmacies) market in the Baltics is experiencing growth driven by changing customer preferences, including the demand for natural and moisturizing hand sanitizers. Local special circumstances, such as the cold climate, also play a role in shaping the market. Additionally, underlying macroeconomic factors such as increasing disposable income and the impact of the COVID-19 pandemic have further fueled the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.