Hand Care Market to Grow with a CAGR of 4.31% through 2028
Increasing awareness of the importance of hand
hygiene, and the increasing demand for convenient and easy-to-use products are
factors driving the global Hand Care market in the forecast period 2024-2028.
According to TechSci Research report, “Hand Care
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Hand Care Market stood at USD6.89 billion
in 2022 and is anticipated to grow with a CAGR of 4.31% in the forecast period,
2024-2028. The global hand care market is a thriving and dynamic segment within
the broader personal care industry, driven by evolving consumer preferences,
heightened awareness of hygiene, and technological advancements. This market
encompasses a wide range of products designed to cater to diverse needs, from
basic hand hygiene to specialized treatments, moisturization, and even
anti-aging solutions. As of 2021, the hand care market has experienced
substantial growth and transformation, shaped by various factors that influence
consumer behavior and industry trends. One of the primary drivers of the hand
care market's expansion is the global emphasis on hygiene and health,
particularly in the wake of the COVID-19 pandemic. Governments, health
organizations, and individuals worldwide have recognized the vital role of hand
hygiene in preventing the spread of infections. This awareness has led to an
increased demand for hand care products such as sanitizers, hand washes, and
soaps. The pandemic has underscored the importance of proper hand hygiene,
positioning hand care as an essential aspect of daily routines. Moreover, the hand care market has witnessed a
shift in consumer preferences towards products that not only ensure cleanliness
but also offer additional benefits. Consumers are seeking hand care solutions
that provide moisturization, protection against harmful pathogens, and cosmetic
enhancements. This has led to the development of innovative products such as
hand creams with anti-aging properties, serums that target specific skin
concerns, and even hand masks. Brands are capitalizing on the convergence of
skincare and hand care, acknowledging that consumers are increasingly looking
for holistic solutions.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Hand Care Market.”
In the context of sustainability, the hand care market
is also undergoing transformation. Consumers are becoming more environmentally
conscious and are demanding products with eco-friendly packaging and clean
formulations. Brands are responding by incorporating natural and organic
ingredients, adopting sustainable sourcing practices, and using recyclable
packaging materials. The shift towards sustainability aligns with the broader
consumer movement towards conscious consumption and responsible brand choices. Furthermore,
the hand care market is witnessing increasing demand for personalized products.
Consumers are seeking solutions tailored to their specific skin types,
concerns, and preferences. Brands are responding by offering customizable
options, enabling consumers to create a hand care regimen that addresses their
individual needs. This trend not only enhances consumer satisfaction but also
fosters brand loyalty and engagement.
Challenges also accompany the market's growth. The
competitive landscape is intensifying as numerous brands vie for consumer
attention. To stand out, manufacturers must focus on product differentiation,
quality, and effective marketing strategies. Ingredient transparency and
authenticity are paramount, as consumers are scrutinizing product claims and
demanding clear information about formulations. The future of the global hand
care market is promising, driven by a combination of factors that reflect
evolving consumer lifestyles, technological innovation, and health awareness.
The market is likely to continue evolving in response to changing consumer
needs, regulatory developments, and emerging trends. As long as manufacturers
remain agile, responsive, and committed to delivering high-quality, effective,
and responsible hand care solutions, the market is poised for sustained growth
and innovation. The global hand care market is segmented into product
type, sales channel, regional distribution, and company. Based on product type the market is segmented into hand
cream/moisturizer, hand wash, hand sanitizers/disinfectants, and others (hand
mask, etc.). Hand wash is emerging as a
rapidly growing segment within the global hand care market. Fueled by increased
hygiene awareness and the ongoing emphasis on hand cleanliness due to factors
like the COVID-19 pandemic, hand wash products are gaining significant
traction. Consumers are seeking effective and convenient solutions for
maintaining hand hygiene, propelling the demand for a diverse range of hand
wash formulations. With an array of options catering to different preferences,
including antibacterial, moisturizing, and natural variants, the hand wash
segment's rapid growth underscores its essential role in promoting cleanliness
and well-being across various demographics and settings.
Based on sales channel the market is
segmented into multi branded stores, supermarkets/hypermarkets, specialty
beauty stores, drug stores, online, and other (direct sales and
distributor/dealers etc.)). Based on region the market is segmented into five
regions Asia Pacific, North America, Europe, Middle East & Africa, and
South America.
Major companies operating in Global Hand Care
Market are:
- Johnson & Johnson Services, Inc.
- Coty, Inc.
- Beiersdorf AG
- Shiseido Co., Ltd.
- Sanofi Consumer Health Inc.
- Philosophy, Inc.
- Shanghai Jahwa United Co., Ltd
- Marks & Spencer Plc.
- The Procter & Gamble Company
- Henkel Corporation
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“The convergence of skincare and hand care,
sustainability concerns, and the rise of e-commerce. The market offers a
diverse range of products catering to various consumer needs, from basic
hygiene to specialized treatments. Brands are innovating with eco-friendly
formulations and packaging, capitalizing on digital marketing, and adapting to
personalized consumer preferences. However, intense competition, ingredient
transparency, and navigating shifting consumer behaviors remain challenges. The
market's trajectory is poised for continued expansion, fueled by evolving
trends and the enduring importance of hand hygiene,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Hand Care Market By Product Type (Hand
Cream/Moisturizer, Hand Wash, Hand Sanitizers/Disinfectants, and Others (Hand
Mask, etc.), By Sales Channel (Multi Branded Stores, Supermarkets/Hypermarkets,
Specialty Beauty Stores, Drug Stores, Online, and Other (Direct Sales and
Distributor/Dealers etc.)), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of global hand care market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global hand care market.
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