Hand Sanitizer (Pharmacies) - Mexico

Mexico

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$22.31m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.65%, resulting in a market volume of US$28.00m 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$0.17 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Mexico have shown a growing preference for hand sanitizers purchased from pharmacies. This preference can be attributed to the trust that customers have in pharmacies as reliable sources of healthcare products. Additionally, customers appreciate the convenience of being able to purchase hand sanitizers alongside other healthcare products in one location.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Mexico is the increasing demand for alcohol-based hand sanitizers. This trend can be attributed to the effectiveness of alcohol-based sanitizers in killing germs and reducing the risk of infections. Customers are becoming more aware of the importance of hand hygiene and are actively seeking out hand sanitizers that contain a high percentage of alcohol. Another trend in the market is the rising popularity of natural and organic hand sanitizers. As consumers become more health-conscious, they are seeking out products that are free from harsh chemicals and artificial ingredients. This trend is also influenced by the growing demand for sustainable and eco-friendly products. Customers are willing to pay a premium for hand sanitizers that are made from natural ingredients and are environmentally friendly.

Local special circumstances: Mexico has a large population and is experiencing rapid urbanization. This has led to an increase in the number of people living in densely populated areas, which in turn has increased the risk of infectious diseases spreading. The COVID-19 pandemic has further highlighted the importance of hand hygiene and has led to a surge in demand for hand sanitizers. The Mexican government has also implemented strict hygiene measures to contain the spread of the virus, which has further fueled the demand for hand sanitizers.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Mexico is also influenced by macroeconomic factors. Mexico has a growing middle class with increasing disposable income, which has led to higher spending on healthcare products. Additionally, the country has a strong pharmaceutical industry, which has contributed to the availability and accessibility of hand sanitizers in pharmacies. The favorable regulatory environment for healthcare products in Mexico has also facilitated the growth of the Hand Sanitizer (Pharmacies) market. In conclusion, the Hand Sanitizer (Pharmacies) market in Mexico is experiencing growth due to customer preferences for purchasing hand sanitizers from pharmacies, the increasing demand for alcohol-based and natural hand sanitizers, local special circumstances such as population density and the COVID-19 pandemic, and underlying macroeconomic factors such as the growing middle class and the strong pharmaceutical industry.

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.