News Post

They started hand-sanitizer businesses during covid. How are they doing now?

The global hand-sanitizer market experienced a boom in 2020, with a 500% increase in revenue to $6.3 billion. However, as the pandemic subsided, sales dropped to around $3 billion in 2021 and are projected to remain at this level for the next few years. Three startups in the hand-sanitizer industry faced different challenges and outcomes. Paume, a company that focused initially on offering a luxurious hand sanitizer for new moms, shifted its strategy to target this market exclusively, resulting in significant growth. Gelcard, which sells sanitizer-filled cards, had to explore new markets outside Europe as demand declined. Garb2ART successfully pivoted from selling cosmetics to producing hand sanitizer during the pandemic, but returned to its original products when sales declined. Despite the challenges faced by these startups, they were able to adapt and find success in the evolving hand-sanitizer market.