Hand Sanitizer (Pharmacies) - Sri Lanka

Sri Lanka

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$1.73m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -6.83%, resulting in a market volume of US$1.21m 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$0.08 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Sri Lanka has experienced significant growth in recent years.

Customer preferences: Customers in Sri Lanka have shown a growing preference for hand sanitizers due to their convenience and effectiveness in preventing the spread of germs and diseases. The COVID-19 pandemic has further heightened this preference, leading to a surge in demand for hand sanitizers.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Sri Lanka is the increasing adoption of hand sanitizers by individuals and businesses alike. People are now more aware of the importance of hand hygiene and are incorporating hand sanitizers into their daily routines. Pharmacies have also started offering a wider range of hand sanitizer options to cater to the diverse needs and preferences of customers. Additionally, there has been a shift towards the use of natural and organic hand sanitizers, driven by the growing demand for eco-friendly and sustainable products.

Local special circumstances: Sri Lanka's tropical climate and high population density contribute to the need for effective hand hygiene. The warm and humid weather creates an ideal environment for the growth and spread of bacteria and viruses, making hand sanitizers an essential product for maintaining personal hygiene. Furthermore, the country's tourism industry plays a significant role in driving the demand for hand sanitizers, as both domestic and international travelers prioritize cleanliness and hygiene.

Underlying macroeconomic factors: The Hand Sanitizer (Pharmacies) market in Sri Lanka is influenced by several macroeconomic factors. The country's improving economic conditions and rising disposable incomes have contributed to increased consumer spending on personal care products, including hand sanitizers. Additionally, the government's focus on healthcare and hygiene initiatives, especially in light of the COVID-19 pandemic, has further fueled the demand for hand sanitizers. The growing number of pharmacies and retail outlets across the country has also made hand sanitizers more accessible to the general 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.