Market Insights Health OTC Pharmaceuticals

Hand Sanitizer - Portugal

Portugal

In Portugal, the Hand Sanitizer market market is projected to generate a revenue of US$10.33m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.43% (CAGR 2024-2029).
When compared globally, the in the United States leads in terms of revenue generation, reaching US$643.50m in 2024.
Looking at the per capita figures, each person in Portugal is expected to contribute US$1.01 in revenue in 2024.
The demand for hand sanitizers in Portugal has surged due to the country's proactive measures in combating the COVID-19 pandemic.

Key regions: Germany, Europe, United States, Brazil, India

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Analyst Opinion

The Hand Sanitizer market in Portugal has been experiencing significant growth in recent years.

Customer preferences: The increasing awareness of the importance of hand hygiene, especially in the wake of the COVID-19 pandemic, has led to a surge in demand for hand sanitizers. Consumers in Portugal are becoming more conscious of the need to keep their hands clean and germ-free, leading to a higher demand for hand sanitizers. Additionally, the convenience and portability of hand sanitizers make them a popular choice among consumers, as they can be easily carried and used on the go.

Trends in the market: One of the key trends in the Hand Sanitizer market in Portugal is the growing preference for natural and organic products. Consumers are becoming more health-conscious and are seeking products that are free from harmful chemicals and additives. As a result, there has been a rise in the demand for hand sanitizers made from natural ingredients, such as aloe vera and essential oils. Manufacturers are responding to this trend by introducing a wide range of natural and organic hand sanitizers to cater to the changing preferences of consumers.Another trend in the market is the increasing availability of hand sanitizers in various formats and sizes. Apart from the traditional gel-based sanitizers, manufacturers are now offering hand sanitizers in the form of sprays, wipes, and foams. This allows consumers to choose the format that best suits their needs and preferences. Additionally, hand sanitizers are now available in different sizes, ranging from small travel-sized bottles to larger pump bottles for household use. This variety in formats and sizes is aimed at providing convenience and flexibility to consumers.

Local special circumstances: Portugal is a popular tourist destination, attracting millions of visitors every year. The tourism industry plays a significant role in the country's economy. With the COVID-19 pandemic, there has been a shift in consumer behavior, with tourists becoming more cautious about their health and safety. As a result, there is a higher demand for hand sanitizers in tourist areas, hotels, and restaurants. To cater to this demand, local businesses have started offering hand sanitizers as part of their hygiene protocols to ensure the safety of their customers.

Underlying macroeconomic factors: The Hand Sanitizer market in Portugal is also influenced by macroeconomic factors. The country has a strong healthcare system and a well-developed pharmaceutical industry. This provides a favorable environment for the production and distribution of hand sanitizers. Additionally, the government has implemented strict regulations and guidelines for the production and sale of hand sanitizers to ensure their quality and effectiveness. These regulations create a level playing field for manufacturers and help build consumer trust in the market.In conclusion, the Hand Sanitizer market in Portugal is witnessing significant growth due to increasing customer awareness of hand hygiene and the convenience of hand sanitizers. The market is characterized by the growing preference for natural and organic products and the availability of hand sanitizers in various formats and sizes. The tourism industry also plays a role in driving demand for hand sanitizers. The underlying macroeconomic factors, such as a strong healthcare system and government regulations, contribute to the growth and development of the market.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.