Key regions: Japan, United States, Europe, United Kingdom, Canada
The Hand Sanitizer (Pharmacies) market in Vietnam has seen significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customer preferences have shifted towards a greater emphasis on hygiene and cleanliness, leading to an increased demand for hand sanitizers. The outbreak of the COVID-19 pandemic has further accelerated this trend, as people have become more conscious about protecting themselves from germs and viruses. Additionally, the convenience and portability of hand sanitizers have made them a popular choice for on-the-go hygiene.
Trends in the market: One trend in the Hand Sanitizer (Pharmacies) market in Vietnam is the rising popularity of natural and organic hand sanitizers. Consumers are becoming more health-conscious and are seeking products that are free from harsh chemicals and artificial fragrances. This trend aligns with the global shift towards natural and sustainable products, reflecting a growing awareness of the potential harmful effects of certain ingredients. Another trend in the market is the increasing availability of hand sanitizers with moisturizing properties. Traditional hand sanitizers can be drying to the skin, leading to discomfort and irritation. To address this concern, manufacturers are developing formulations that not only kill germs but also provide hydration and nourishment to the skin. This trend caters to the needs of consumers who prioritize both cleanliness and skincare.
Local special circumstances: Vietnam has a tropical climate, characterized by high temperatures and humidity. These conditions create an ideal environment for the growth and spread of bacteria and viruses. As a result, there is a heightened awareness of the importance of hand hygiene in the country. The government and healthcare authorities have also played a significant role in promoting hand sanitizers as an effective preventive measure against infectious diseases.
Underlying macroeconomic factors: The growing middle-class population and rising disposable incomes in Vietnam have contributed to the increased demand for hand sanitizers. As people have more purchasing power, they are willing to invest in products that promote their health and well-being. The expanding urban population and changing lifestyles have also influenced the market, as more people are seeking convenient and portable solutions for maintaining hygiene. In conclusion, the Hand Sanitizer (Pharmacies) market in Vietnam is experiencing growth due to changing customer preferences, including a focus on natural and moisturizing products. The local special circumstances, such as the tropical climate and government support, have further fueled the demand for hand sanitizers. The underlying macroeconomic factors, such as the growing middle-class population and rising disposable incomes, have also contributed to the market's development.
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.
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