Hand Wash Market to Hit USD 4.29 Billion by 2028 | Industry to Generate 6.6% CAGR During (2021-2028)
Companies covered in Hand Wash Market are Unilever PLC (U.K.), Avon Product, Inc. (U.K.), C. Johnson & Son, Inc. (U.S.), Amway Corporation (U.S.), Henkel AG & Co. KGaA (Germany), The Procter & Gamble Company (U.S.), Reckitt Benckiser Group PLC (U.K.), Vi-Jon, Inc. (U.S.), Godrej Group (India), 3M (U.S.), and more players profiled.
Pune, India, Dec. 22, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global hand wash market size was USD 3.29 billion in 2020. The market is projected to grow from USD 2.74 billion in 2021 to USD 4.29 billion in 2028 at a CAGR of 6.6% in the 2021-2028 period. This crucial piece of information is presented by Fortune Business Insights™ in its report titled, “Hand Wash Market, 2021-2028.”
According to our analysts, the increasing occurrence of ailments such as diarrhea, intestinal sickness, and others, combined with the rising hygiene alertness among the global population, affects the demand for personal care products. Additionally, surging dust and environmental contamination concerns across the world give an escalation to the requirements for skin hygiene and sanitary products.
COVID-19 Impact
Unclear Incidence of Pandemic and Increasing Personal Hygiene Care to Fuel Growth
The rising consciousness associated with personal sanitation, specifically in the rural parts, coupled with the indefinite incidences of diseases such as COVID-19 virus spread, SARS, as well as MERS is probable to bolster the demand for hand wash; these products aid to prevent human-to-human contagion communication pace.
As per the article published by the American Academy of Family Physicians, in April 2020, rigorous washing of palm and fingers in an appropriate method is yet the best procedure to fortify oneself against the spread of the novel coronavirus.
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Hand Wash Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 6.6% |
| 2028 Value Projection | USD 4.29 Billion |
| Base Year | 2020 |
| Hand Wash Market Size in 2020 | USD 3.29 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 125 |
| Segments Covered | By Product, By End-User, By Sales Channel, By Region |
| Hand Wash Market Growth Drivers | Increasing Hygiene Consciousness of People to Drive Growth |
| Government Initiatives and Promotions Regarding Personal Care and Cleanliness to Aid Growth |
Fortune Business Insights™ lists out all the hand wash market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Unilever PLC (U.K.)
- Avon Product, Inc. (U.K.)
- C. Johnson & Son, Inc. (U.S.)
- Amway Corporation (U.S.)
- Henkel AG & Co. KGaA (Germany)
- The Procter & Gamble Company (U.S.)
- Reckitt Benckiser Group PLC (U.K.)
- Vi-Jon, Inc. (U.S.)
- Godrej Group (India)
- 3M (U.S.)
Report Coverage
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and testing the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Drivers and Restraints
Rising Health Alertness among Individuals to Support Market Growth
The development of the worldwide economy has occasioned a varying lifestyle and an augmented standard of life and, therefore, the implementation of a health-alert attitude towards life. This bolsters the utilization of personal care products, such as hand wash, for health safeguarding resolutions.
Moreover, the huge existence of hospitals and clinical infrastructure is anticipated to enhance the demand for sanitary products, as numerous hygiene and personal care products are fundamentally utilized in hospitals to preserve hygiene and a bacteria-free surrounding. This is expected to boost the hand wash market growth during the forecast period.
Segmentation
Based on the product, the global market is classified into ordinary and waterless hand wash. The ordinary products segment dominates the market as these items deliver augmented hydration and bacterial protection to the skin.
On the basis of end-user, the market is divided into residential, commercial, and industrial.
In terms of sales channels, the market is branched into supermarket/hypermarkets, pharmacies, and online channels.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Regional Insights
North America to Remain at Forefront Stoked by Higher Cases of COVID-19
The North American market stood at USD 1.12 billion in 2020. North America held the maximum hand wash market share owing to the surging demand for palm washing products, especially due to an all-encompassing incidence of the COVID-19 outbreak in nations such as the U.S. and Canada.
The Asia Pacific is projected to hold the second-largest position in the market over the forecast period of 2021-2028. The mounting suburbanization pace in leading nations such as China and India would result in the implementation of improved and sanitized habits among people.
Europe is predicted to be the fastest-growing region during the forecast period on account of the existence of mega hand sanitizing production brands such as L’Oréal, Avon, Unilever, and others.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players’ market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Hand Wash Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product (Value)
- Ordinary Hand Wash
- Waterless Hand wash
- By End-User(Value)
- Commercial
- Residential
- Industrial
- By Sales Channel(Value)
- Supermarket/Hypermarket
- Pharmacies
- Online Stores
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product (Value)
TOC Continued…!
Competitive Landscape
Novel Presentations and Procurements Set to Augment Market Growth
Chief players in the market frequently come up with competent tactics that involve collaborations and partnerships, procurements and mergers, product unveilings, and so on. These approaches elevate their position as dominating players and profit the other engaged companies as well.
Industry Development
- April 2020: Marico declared the unveiling of Mediker SafeLife hand wash in Bangladesh. This presentation is estimated to lead to the sale of the product at a promotional cost, plus the excess money earned in the upcoming six months will be offered to the Prime Minister Relief Fund to tackle the emergency crisis of coronavirus.
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Frequently Asked Questions (FAQs):
1. What is the hand wash market growth?
Answer: Fortune Business Insights says that the global market size was USD 3.29 billion in 2020 and is projected to reach USD 4.29 billion by 2028.
2. Who are the key players in the Hand Wash Market?
Answer: Unilever and Reckitt Benckiser are the leading players in the global market.
3. What are Key Factors Raising the Market?
Answer: The increasing health consciousness of an individual is driving the market.
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