19 Feb 2020
Posted in Consumer
Food Revolution Group set to meet growing demand of hand sanitizers amidst coronavirus outbreak, says GlobalData
Following the news that The Food Revolution Group looks increase the production of hand sanitizer to meet the mounting demand in the Asia-pacific (APAC) region in the wake of growing public concerns amidst the coronavirus outbreak;
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, a leading data and analytics company, offers her view:
“Australia-based consumer good manufacturing company The Food Revolution Group announced the launch of hand sanitizers at a time when the consumers in the APAC region are reaching for hand sanitizers to try and prevent the spread of novel coronavirus. The move by the company is part of its bigger plan to expand its footprint into personal care market through Sanicare brand.
“According to GlobalData, the hand care market is led by the APAC, which was valued at US$1.34bn in 2018 and is expected to reach US$1.92bn by 2024.
“GlobalData’s 2018 Q4 consumer survey reveals that nearly 34% of consumers in the APAC region are always influenced by health and wellbeing factor while making a purchase decision. At the same time, 2019 Q3 survey results show that almost 53% of consumers in APAC consider personal hygiene and cleanliness as very important.
“The escalating obsession with hygiene, cleanliness and immunity among the APAC consumers has created space for more on-the-go hygiene products that can easily be applied quickly during commutes or work. Countries in the region, especially China is facing utmost shortage of hand sanitizers and this shortfall can provide Food Revolution Group the space to enter and enhance its presence in the market without making much effort as it has the logistics network and production factory in place. In the long run, it will be interesting to watch what kind of strategy Food Revolution Group will adopt to sustain in the highly competitive hygiene market.”