Hand Sanitizer (Pharmacies) - Guatemala

Guatemala

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$3.95m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.77%, resulting in a market volume of US$5.23m 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$0.22 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Guatemala has been witnessing significant growth in recent years.

Customer preferences: Customers in Guatemala have shown a growing preference for hand sanitizers in pharmacies. This can be attributed to the increased awareness about personal hygiene and the importance of hand sanitization in preventing the spread of diseases. Additionally, the convenience of purchasing hand sanitizers from pharmacies, which are easily accessible and trusted sources, has also contributed to the preference for this distribution channel.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Guatemala is the increasing demand for natural and organic hand sanitizers. Consumers are becoming more conscious about the ingredients used in personal care products and are opting for products that are free from harmful chemicals. This trend aligns with the global shift towards natural and organic products, reflecting a growing concern for health and wellness. Another trend in the market is the rise in demand for hand sanitizers with moisturizing properties. Regular use of hand sanitizers can lead to dryness and irritation of the skin. Therefore, consumers are seeking products that not only provide effective sanitization but also offer moisturizing benefits to keep their hands soft and hydrated.

Local special circumstances: Guatemala has a tropical climate, which can contribute to the spread of certain diseases. This factor has increased the emphasis on personal hygiene and the use of hand sanitizers as a preventive measure. Additionally, the country has a high population density, especially in urban areas, which further necessitates the use of hand sanitizers to maintain hygiene and prevent the spread of diseases.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Guatemala is also 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 higher purchasing power and a greater willingness to spend on personal care products, including hand sanitizers. Furthermore, the COVID-19 pandemic has had a significant impact on the market. The outbreak of the virus has heightened the importance of hand hygiene, leading to a surge in demand for hand sanitizers. This increased demand is expected to continue even after the pandemic, as people have become more conscious of the need for regular sanitization to prevent the spread of diseases. In conclusion, the Hand Sanitizer (Pharmacies) market in Guatemala is witnessing growth due to customer preferences for hand sanitizers in pharmacies, the demand for natural and organic products, and the need for moisturizing properties in hand sanitizers. The local special circumstances, such as the tropical climate and high population density, further contribute to the market's development. Additionally, macroeconomic factors, including economic growth and the impact of the COVID-19 pandemic, play a significant role in driving the market's growth.

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.