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 2023-2028 period. This crucial piece of information is presented by Fortune Business Insights™ in its report titled, “Hand Wash Market, 2023-2028.”
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.
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.)
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.
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.
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.
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.
- 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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