Hand Sanitizer (Pharmacies) - Ghana

Ghana

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$1.26m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.02%, resulting in a market volume of US$1.08m 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$0.04 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Ghana has been experiencing significant growth in recent years.

Customer preferences: Customers in Ghana have shown a growing preference for hand sanitizers as a means of maintaining personal hygiene. This preference is driven by the increasing awareness of the importance of hand hygiene in preventing the spread of diseases, especially in crowded places such as pharmacies. Additionally, the convenience and ease of use of hand sanitizers make them a popular choice among consumers.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Ghana is the rising demand for natural and organic hand sanitizers. Consumers are becoming more conscious of the ingredients used in products and are opting for those that are free from harsh chemicals. This trend is in line with the global shift towards natural and eco-friendly products. Another trend in the market is the increasing availability of hand sanitizers in different formats and sizes. Pharmacies in Ghana are offering a wide range of options to cater to the diverse needs and preferences of consumers. This includes pocket-sized sanitizers for on-the-go use, as well as larger bottles for household use.

Local special circumstances: Ghana, like many other countries, has been affected by the COVID-19 pandemic. This has led to a heightened awareness of hand hygiene and an increased demand for hand sanitizers. Pharmacies in Ghana have played a crucial role in meeting this demand by ensuring a steady supply of hand sanitizers to the public. Additionally, the government of Ghana has implemented various measures to promote hand hygiene and prevent the spread of diseases. This includes the distribution of free hand sanitizers to schools, hospitals, and other public places. These initiatives have further boosted the demand for hand sanitizers in the country.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Ghana is also influenced by macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income among consumers. This has resulted in a higher purchasing power and a greater willingness to spend on personal care products, including hand sanitizers. Furthermore, Ghana has a growing population, with a significant portion being young and health-conscious individuals. This demographic trend has contributed to the increasing demand for hand sanitizers, as younger consumers are more likely to prioritize personal hygiene and take preventive measures against diseases. In conclusion, the Hand Sanitizer (Pharmacies) market in Ghana is witnessing growth due to customer preferences for hand sanitizers, the availability of different product formats, and the special circumstances of the COVID-19 pandemic. The market is also influenced by underlying macroeconomic factors such as economic growth and a young and health-conscious population.

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.