Boring answer, but I believe it’s mostly because alcohol is extremely volatile, meaning it evaporates quickly.
This even a well designed container of hand sanitizer will have the alcohol evaporate over time and eventually you just have a container of the gel goop and scents they use to make it a nice product.
Also boring, but they probably only test/model the effectiveness of the sanitizer for a specific time period. They aren’t going to run an expensive analysis of “will the sanitizer” be effected 50 years from now? because that’s just a waste. So they can only print a confirmed expiration date for as far as they know it’ll be good for.
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