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Rubbing Alcohol: The Fastest Growing Industry Today




More than a year after the global pandemic caused by the Severe Acute Respiratory Coronavirus 2 also known as SARS-CoV-2 which is the causative agent of Corona Virus Disease of 2019, commonly know as COVID-19, people are already used to bringing it wherever they go.


With the strong demand for rubbing alcohol products and because of the declaration of community quarantine due to the COVID-19 in the Philippines, the Food and Drug Administration (FDA) issued FDA Memorandum Circular No. 2020-001 or the Interim Guidelines for the Issuance of Provisional License to Operate (LTO) and Certificate of Product Notification (CPN) for Manufacturers of Rubbing Alcohol Products Under the Center for Cosmetic Regulation and Research. This issuance transferred the jurisdiction of alcohol products with 70% or more strength from the Center for Drug Regulation and Research (CDRR) to the Center for Cosmetic Regulation and Research (CCRR).


This enables manufacturers to comply with the less strict guidelines of the ASEAN Cosmetic Directive and also aim to provide an increase in the supply of rubbing alcohol that will benefit the general public.


On February 9, 2021, the FDA issued FDA Circular-004 or the Revised interim Guidelines for the issuance of LTO and CPN for Manufacturer, Distributors, and Traders of Rubbing Alcohol Products Under the Center for Cosmetics and Household/Urban Hazardous Substances Regulation and Research (formerly CCRR) to ensure the safety and quality of rubbing alcohol products and to aid in the supply sustainability and continuous demand for the said product.


The future of the rubbing alcohol industry is expected to grow by 521.75 thousand tons by 2024 (source: businesswire.com). As the demand sustainably growing, so as the demand for its raw materials, packaging materials, and other starting materials.


The APAC region led the isopropyl alcohol market in 2019, followed by North America, Europe, South America, and MEA. The forecast shows that the APAC region will remain with the highest demand across all regions and is expected to register the highest incremental growth due to the fast-growing in the pharmaceutical, food and beverages industry, cosmetics and personal care sector as well as in chemical industry.



References:

fda.gov.ph

businesswire.com

business.inquirer.net

forbes.com


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