Business

Hand Wash Market Growth: Future Demand & Opportunities

The global hand wash market size was valued at USD 3.89 billion in 2023 and is projected to reach a valuation of USD 4.15 billion in 2024. The market is expected to reach USD 7.26 billion by 2032 with a CAGR of  7.25% during the forecast period. Hand wash is one of the widely used personal care items as it offers germ protection. The demand for the product is due to increasing cases of diarrhea, intestinal disorders, and others. Manufacturers have been incorporating naturally available ingredients in the production of the various personal care groceries. Fortune Business Insights™ shares this information in its report titled “Hand Wash Market, 2024-2032.

Top Companies Covered in the Hand Wash Market:

  • Unilever PLC (U.K.)
  • Avon Product, Inc. (U.K.)
  • Henkel AG & Co. KGaA (Germany)
  • Procter & Gamble Company (U.S.)
  • Reckitt Benckiser Group PLC (U.K.)
  • Vi-Jon, Inc. (U.S.)
  • Godrej Group (India)
  • 3M (U.S.)
  • S. C. Johnson & Son, Inc. (U.S.)
  • Amway Corporation (U.S.)

Information Source: https://www.fortunebusinessinsights.com/hand-wash-market-102846 

Segmentation

Ordinary Segment To Dominate As They Provide More Hydration And Bacterial Protection

On the basis of product, the market is divided into the ordinary and waterless. The ordinary segment to dominate as they provide more hydration and bacterial protection for the skin. They are also available in the form of gel and liquid.

Commercial Segment To Lead Due To Need For Clean And Hygienic Environments

On the basis of end-user, the market is classified into residential, commercial, and industrial.

Due to the need for clean and hygienic environments in the schools, hospitals, clinics, and other commercial places, commercial segment is set to hold the largest market share. Residential segment is set to be the fastest part of the segment due to increasing demand for personal care products from households and residencies.

Supermarket/Hypermarkets Held Dominant Share Due To Easy Availability Of A Wide Variety Of Products

On the basis of sales channel, the market is classified into supermarket/hypermarkets, pharmacies, and online channels. Supermarket/hypermarkets is set to dominate with easy accessibility to wide variety of products under a single store. Pharmacies segment is set to have a considerable growth as numerous groceries are getting sold in hospitals, clinics, and medical facilities.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Drivers and Restraints

Increasing Level Of Personal Hygiene Due To Changing Lifestyle To Drive Market Growth

Increasing level of personal hygiene due to changing lifestyle is anticipated to drive the hand wash market growth. The growth of the market is due to adoption of health-conscious approach which has been due to changing lifestyle and a higher standard of living. Large presence of hospitals and clinical facilities is also propelling the demand for various hygiene and personal care groceries.

However, high costs of raw materials and availability of alternative products are expected to hamper the market growth. High costs of glycerin, fragrances, sodium lauryl, ether sulfate, and others are affecting the market growth in negative manner.

Regional Insights

Demand For Palm Cleansing Products To Drive Market Growth In North America

North America is set to lead in the global hand wash market share due to demand for palm cleansing products due to COVID-19 outbreak in countries such as the U.S. and Canada. The market reached the valuation of USD 1.03 billion in the year 2022 with high presence of various beauty and personal care companies such as Gojo Industries Inc., Hand Sanitizer Inc., and others.

Asia Pacific region held the second-largest position in 2022 and is set to hold the dominant position in 2023-2030 due to increasing rate of urbanization in developing countries such as China and India.

Competitive Landscape

Key market players have been innovating by integrating natural ingredients such as lemon, strawberry, passion fruit, aloe vera, and others. Hand wash market players have been integrating natural ingredients which are naturally benefiting. Implementation of effective promotional strategies and distribution strategies are important aspects for the key players.

Key Industry Development

  • April 2023 – Reckitt Benckiser Group PLC has initiated a new campaign urging customer to use more hand wash liquid instead of soap. The latest, upgraded moisture seal formula softens the hand and provides a pleasant fragrance.

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