Hand Sanitizer Market Analysis

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Hygiene is an important element of maintaining a healthy life among individuals exposed to varying vulnerabilities. Maintaining cleanliness is significantly encouraged by medical practitioners to keep harmful pathogens, such as viruses and bacteria, away. Therefore, this analysis aims at addressing the growing importance of hand sanitizers in fighting the Covid-19 pandemic. The market for hygiene commodities has increased after coronavirus became a global health problem. Profit-making institutions in different industries focused on producing hand sanitizers to satisfy the rising demand (Deepak & Jeyakumar, 2019). Profit-making entities in the healthcare sector have also capitalized on the increasing need of maintaining hand hygiene. High levels of competition have forced companies to engage in dynamic marketing practices for improving sales revenues. Digital technologies have contributed to successful advertisement initiatives intended to promote profitability. Essentially, modern marketing practices of hand sanitizers have been instrumental in ensuring profitability among organizations producing hygiene products.

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Several factors influence the rising demand for hand sanitizers. Before the Covid-19 pandemic, there were low sales of hygiene products, as many individuals overlooked their importance. It was common to find patients with mild complications attributed to dirt consumption among children. Then, the pandemic has been critical in influencing sanitation products’ demand (Deepak & Jeyakumar, 2019). The World Health Organization (WHO) advises public members to wash their hands frequently as a strategic approach to mitigating the virus’s spread. Information from a trusted global healthcare institution also contributes to the rising demand for hand sanitizers. Individuals are now informed of the properties required in a sanitation product for effective cleanliness. The supply of health commodities has been influenced by new market entrants producing similar products (Deepak & Jeyakumar, 2019). As highlighted before, companies from different industries were commercially allowed to manufacture health commodities against the pandemic. Government intervention in the form of grants and subsidies made it possible for firms to engage in large-scale production.

Additionally, hand sanitizers’ price equilibrium has been influenced substantially by abrupt changes in market demand and supply. Practically, hygiene products were considered secondary needs, especially in households with low income earning levels. Regular bar soaps and detergents were deemed to be useful in ensuring appropriate hygiene among public members. Covid-19 pandemic requires accuracy in it for all individuals. The sharp increase in demand has resulted in high prices of hand sanitizers during the initial periods of coronavirus (Deepak & Jeyakumar, 2019). However, the mass production of hand sanitizers reduced the prices significantly. Government intervention in terms of subsidies and funding has lowered production costs among manufacturing companies. State agencies have also dictated standard prices to ensure producers do not exploit customers. Non-governmental organizations have also contributed to resources facilitating accurate production and timely delivery for satisfying the demand (Deepak & Jeyakumar, 2019). Subsequently, the prices of hand sanitizers have stabilized, implying affordability among consumers. The influence of demand and supply on these products has been vital in determining the selling prices.

Most fundamentally, I anticipate changes in demand and supply of hand sanitizers for varying reasons. For instance, the development of vaccines has reached the testing phase with success. It implies that people will not need hand sanitizers in large quantities for hand hygiene. Public vaccination will be the ultimate solution to the pandemic that has affected individuals’ political, social, and economic lifestyles. Many people have learned other hand hygiene practices away from the common use of hand sanitizers. For instance, bar soaps in common public places will determine how individuals share these products (Deepak & Jeyakumar, 2019). Negative social beliefs against the use of chemicals will also influence the demand for hygiene products. For instance, cases of mild skin reactions causing inflammation on the hands have affected public trust. Individuals with negative experiences with sanitation products will avoid similar commodities in the future resulting in a demand shift. Additionally, reduced marketing practices of hygiene products will affect hand sanitizers’ demand as firms concentrate on other profitable items for advertisements.

In conclusion, the demand and supply of hand sanitizers have been affected by market dynamics evidenced in different economies. Government and non-government intervention have encouraged the mass production of hygiene commodities. Standardization of prices and regulation of sale practices in retail shops have been critical in fulfilling the demand for sanitation products. As a result, the supply has increased as manufacturing companies reduce production costs, which is reflected in the ultimate price. Intensive marketing practices using digital technologies have attracted demand for hand sanitizers. Contemporary institutions have capitalized on communication innovation for marketing objectivity. However, the need for hand sanitizers is likely to reduce as vaccination will solve the pandemic. I anticipate a sharp decrease in the prices of sanitation products as demand declines. Similarly, supply will also facilitate firms’ focus on other profitable commodities once the economies are reopened. Marketing practices of hygiene products also influence the prices of sanitation products essentially. Digital innovation has improved the communication practices of health commodities and procedures that affect supply and demand. Public members have become aware of product quality during the onset of this pandemic.

Reference

Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.

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BusinessEssay. (2022, February 12). Hand Sanitizer Market Analysis. Retrieved from https://business-essay.com/hand-sanitizer-market-analysis/

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BusinessEssay. (2022) 'Hand Sanitizer Market Analysis'. 12 February.

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BusinessEssay. 2022. "Hand Sanitizer Market Analysis." February 12, 2022. https://business-essay.com/hand-sanitizer-market-analysis/.

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