Hand Sanitizer (Pharmacies) - Taiwan

Taiwan

Highlights

Revenue in the Hand Sanitizer market is projected to reach US$35.04m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.08%, resulting in a market volume of US$51.67m 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$1.46 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Hand Sanitizer (Pharmacies) market in Taiwan has witnessed significant growth in recent years. Customer preferences have shifted towards personal hygiene and cleanliness, leading to an increased demand for hand sanitizers. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.

Customer preferences: Customer preferences in Taiwan have been influenced by global trends towards personal hygiene and cleanliness. The COVID-19 pandemic has heightened awareness about the importance of hand hygiene, leading to a surge in demand for hand sanitizers. Consumers are now more conscious of the need to keep their hands clean and germ-free, especially when they are outside their homes. As a result, hand sanitizers have become an essential item for many individuals in Taiwan.

Trends in the market: One of the key trends in the Hand Sanitizer (Pharmacies) market in Taiwan is the increasing popularity of natural and organic hand sanitizers. Consumers are becoming more conscious about the ingredients used in personal care products, including hand sanitizers. They are opting for products that are free from harsh chemicals and are made from natural ingredients. This trend is driven by the growing awareness about the potential harmful effects of certain chemicals on the skin. As a result, many pharmacies in Taiwan are now offering a wide range of natural and organic hand sanitizers to cater to this demand. Another trend in the market is the rising popularity of pocket-sized hand sanitizers. These small-sized sanitizers are convenient to carry and can be easily used on-the-go. With people becoming more mobile and traveling frequently, the demand for pocket-sized hand sanitizers has increased. Pharmacies in Taiwan have responded to this trend by offering a variety of travel-sized hand sanitizers, making it easier for consumers to maintain hand hygiene wherever they go.

Local special circumstances: Taiwan has a highly developed healthcare system and a strong emphasis on public health. The government has implemented strict regulations and guidelines to ensure the safety and quality of healthcare products, including hand sanitizers. This has created a sense of trust among consumers, who feel confident in purchasing hand sanitizers from pharmacies. The local special circumstances, such as the well-regulated healthcare system, have contributed to the growth of the Hand Sanitizer (Pharmacies) market in Taiwan.

Underlying macroeconomic factors: The Taiwanese economy has been growing steadily in recent years, with a strong focus on healthcare and well-being. The government has actively promoted public health initiatives, leading to increased awareness about the importance of hand hygiene. This has created a favorable environment for the Hand Sanitizer (Pharmacies) market to thrive. Additionally, the rising disposable income of consumers has also played a role in driving the demand for hand sanitizers. As people have more purchasing power, they are willing to invest in products that promote their health and well-being. In conclusion, the Hand Sanitizer (Pharmacies) market in Taiwan has experienced significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing focus on personal hygiene and cleanliness, along with the availability of natural and organic hand sanitizers, has driven the demand for hand sanitizers in the country. The well-regulated healthcare system and the government's emphasis on public health have also contributed to the growth of the market. With the ongoing importance of hand hygiene, the Hand Sanitizer (Pharmacies) market in Taiwan is expected to continue its upward trajectory.

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.