Business Idea of Hand Sanitiser in India
Hand sanitiser is an alternative to soap and water, due to the fact that soap and water is not convenient to be carried around and it is also time consuming compared to hand sanitisers. Hand sanitisers is an antiseptic solution. It is used to combat the transmission of infection, which is majorly caused through hand transmission, further causing several diseases such as nosocomial food-borne illness and the disease which is terrorising the world lately which is called Coronavirus which is also known as covid-19.
Hand sanitisers isn’t a difficult product to manufacture. A standard hand sanitiser and the recommended hand sanitisers by WHO should consist of about 70 percent of pure isopropyl alcohol and 30 percent aloe vera gel or PEG (Polyethylene glycol) as an inactive ingredient. The market size of hand sanitisers was valued at $919 million in 2016 to reach $1,755 million by 2023 and it was anticipated to grow at CAGR of 9.9% from 2017 to 2023 but due to the outbreak of the Coronavirus pandemic, the hand sanitiser market size is expected to grow by $590.7 million during 2020-2024 progressing at a CAGR of almost 9% during the forecast period.
The growth is also aided because people are now aware about various diseases and are more health conscious. Awareness programmes conducted by various organisations such as WHO, FDA, among others, improving living standards have increased the demand for hand sanitisers. Due to the Coronavirus pandemic, people are now focused to prevent the transmission of infections, which largely caused by hand transmission has also boosted the demand of hand sanitisers. Moreover proper cleanliness of hand can reduce the chances of various diseases.
DEMAND – SUPPLY OF THE PRODUCT
Demand for hand sanitizer has skyrocketed due to the Coronavirus pandemic. These viruses is terrorising the world but it is a silver lining for the sanitiser manufacturers and suppliers. Due to the pandemic, manufacturer expect a 10x jump in demand for sanitisers. One of the major countries manufacturing sanitisers is India (if not the first on the list). Before the occurrence of Coronavirus pandemic, there were about a hundred (100) sanitisers manufacturers in india, a majority of them with manufacturing unit in special category states like Uttarakhand and Himachal Pradesh.
Due to the high demand for hand sanitisers in India, pharmaceutical industries are now also manufacturing the product, most of them are actually for the profit but either way, they are helping in reducing the high scarcity of the product. A salesman who works at Apollo pharmacy in Delhi (north India) said “people are buying five to six hand sanitisers each and we have now run out of them, he also said that they have been getting calls from residents around for the availability of the hand sanitisers” which shows how high the demand for these products is, especially in Delhi (north India).
Supply rate is gradually increasing due to the fact that the centre and state has given permission and licenses to applicants including distilleries and new manufacturer who intend to manufacture hand sanitisers to meet its increasing demand of the product. About 45 distilleries and 564 other manufacturers have been granted permission to produce hand sanitisers.
Also, in order to maintain demand and supply balance, state government authorities including excise commissioners, drug controllers as well as district collectors have been advise to remove any bottlenecks in supply of ethanol or extra neutral alcohol used to manufacture hand sanitisers.
Lastly, the government also reduced the prices of hand sanitisers to Rs 100 per bottle of 200ml.
SUPPLIERS AND COMPETITORS OF THE MARKET
Major players operating in North Indian’s hand sanitisers market are:
- Akshay Enterprises
- Saanvi Inc.
- Priyanka Overseas
- Pharmika India Private Limited
- Skin Secrets
- Sag Health Science Private Limited
- Surajbala Exports Private Limited
- Crystal Paradise
Major market players are focusing on capacity and are adopting innovative technologies in order to meet growing consumer demands
COMPETITORS OF THE PRODUCT
- Antiseptic soaps
- Tissue paper