USD 416 million
Hand Cream Market Size, Share, Growth Analysis, By Demographics(Male and female), By Distribution channel(Supermarket, Speciality store, Beauty salon, Pharma & drugs store), By Product Type(Moisturizing hand creams, anti-aging hand creams, healing hand creams, and Others), By Age Group(Generation X, Baby Boomers, Millennials, Generation Z), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2143 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
119
|Figures:
77
Hand Cream Market Insights
Global Hand Cream Market size was valued at USD 416 million in 2021 and is poised to grow from USD 434.4 million in 2022 to USD 623.3 million by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
Hand cream is a body care product made up of using water, triethanolamine, propylene glycol, stearic acid, methyl stearate, lanolin, and mineral oil. It helps to prevent dryness, fight the indications of premature aging, increase moisture levels and skin smoothness, and protect against UV exposure, which promotes cracking and pigmentation. It also helps to reduce the clinical symptoms of irritant contact dermatitis, and its sales are increasing worldwide. The hand cream is easily available in the market through various distribution channels including online stores, supermarkets, and specialty stores. The increasing habit of frequent hand washing to avoid infections is one of the best ways to reduce COVID-19 transmission. Therefore, doctors recommend using hand creams that help keep the hands nourished, and minimize irritation of the skin.
The increase in the number of working women worldwide and the increase in spending on premium skin care products are driving market growth. Also, increasing consumer awareness about moisturizing hands after hand washing and sanitization is helping in the growth of the hand cream market. Growing demand for skin care products with safe and sustainable ingredients, with the rapid expansion of online retail platforms is expected to expand the market. The high market price of hand cream is expected to hamper the market growth. The availability of counterfeit products is a major challenge for the expansion of the hand cream market. Many users do not know that the product they are using is a counterfeit product. Because of counterfeit products, retailers and distributors lose faith in reputable companies. Consequently, the availability of fake products is expected to hamper the growth of the hand cream market.
US Hand Cream Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Female
Fastest Growth
Female
Growth Rate
5.8% CAGR
Global Hand Cream Market ($ Bn)
Country Share for North America Region (%)
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Hand Cream Market Segmental Analysis
Global hand cream market is segmented on the basis of demographics, distribution channel, product type, age group, and region. On the basis of demographics, global hand cream market is segmented into, male and female. On the basis of distribution channel, global hand cream market are segmented into, supermarket, speciality store, beauty salon, pharma & drugs store and online store. By Product Type, the Hand Cream Market is segmented into moisturizing hand creams, anti-aging hand creams, healing hand creams, and Others. By Age Group, Hand Cream Market is segmented into Generation X, Baby Boomers, Millennials, Generation Z. On the basis of region, global hand cream market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Hand Cream Market Analysis by Demographics
On the basis of demographics, global hand cream market is segmented into male and female. The female segment accounted for the largest revenue share of global hand cream market and is expected to grow at fastest CAGR during forecast period. Around 39% of the world's working population is women. The growing population of working women is the major factor driving the growth of the market. Women are major consumers of hand cream products and working women also lead the purchasing power of expensive and premium hand cream products.
Hand Cream Market Analysis by Distribution Channel
On the basis of distribution channel, global hand cream market are segmented into, supermarket, speciality store, beauty salon, pharma & drugs store and online store. The supermarket store segment accounted for largest revenue share of global hand cream market and is expected to grow at significant CAGR during forecast period. The supermarket store offers a variety of brands in the hand cream product range, giving consumers more options to purchase a variety of hand creams from different brands as per their preferences. Supermarket shop staff provides customers with detailed information about the variety of different brands of products as well as the skin benefits of hand creams.
Global Hand Cream Market By Demographics
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Hand Cream Market Regional Insights
The Asia Pacific accounted for the highest market share of global hand cream market. Asia Pacific is predicted to be the fastest-growing regional market for hand cream during the forecast period. This is due to the increasing demand for skin care products and the presence of several hand cream manufacturers in the region. Also, the increasing habit of frequent hand washing to avoid infections is one of the best ways to reduce COVID-19 transmission. Furthermore, the growing consumer disposable incomes and the rising living standards are also favourable factors for regional market growth.
North America dominates the global hand care market, due to high hygiene standards in the U.S. population. The U.S. currently leads the global hand cream market. Because the working population in the United States is increasing, so is spending on skin care products. Also, the spread of the coronavirus disease has increased consumer knowledge about hand washing and moisturizing after sanitizing.
In Europe, consumers regularly use hand cream and it is one of the most popular body care products. Also, European people are becoming more interested in personal health and hygiene due to increasing health concerns and diseases, leading them to use hand cream.
Global Hand Cream Market By Region
- Largest
- Fastest
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Hand Cream Market Dynamics
Hand Cream Market Driver
- Rise in the number of working women population across the world
Around 39% of the world's working population is women. The growing population of working women is the major factor driving the growth of the market. Women are major consumers of hand cream products and working women also lead the purchasing power of expensive and premium hand cream products.
- Increase in consumer's awareness regarding moisturizing hands after hand wash and sanitization
The increasing habit of frequent hand washing to avoid infections is one of the best ways to reduce COVID-19 transmission. Therefore, doctors recommend using hand creams that help keep the hands nourished, and minimize irritation of the skin. Increase in consumer's awareness regarding moisturizing hands after hand wash and sanitization is key factor that helps driving the market growth.
Hand Cream Market Restraint
- Availability of counterfeit products
The availability of counterfeit products is a major challenge for the expansion of the hand cream market. Many users do not know that the product they are using is a counterfeit product. Because of counterfeit products, retailers and distributors lose faith in reputable companies. Consequently, the availability of fake products is expected to hamper the growth of the hand cream market.
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Hand Cream Market Competitive Landscape
Global hand cream market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global hand cream market. For example, Purell, a GOJO Industries, Inc. brand, launched a green hand sanitizer made with plant-based ethanol and sold in a recyclable PET plastic container, while Amway India launched a liquid hand wash -Persona Germ Protection and Moisturizing, which is free of commonly used preservatives such as sulphate, and paraben.
Hand Cream Market Top Player's Company Profiles
- L'Oreal SA
- Unilever PLC
- The Estée Lauder Companies Inc.
- Johnson & Johnson Services, Inc.
- Procter & Gamble Co.
- Amway Corporation
- Beiersdorf AG
- Shiseido Company, Limited
- Kao Corporation
- Avon Products, Inc.
- Mary Kay Inc.
- Oriflame Cosmetics Global SA
- Coty Inc.
- Clarins SA
- Revlon Inc.
- The Body Shop International Limited
- Crabtree & Evelyn Ltd.
- Natura & Co Holding SA
- Mario Badescu Skin Care, Inc.
- Burt's Bees
Hand Cream Market Recent Developments
- In November 2021, Edgewell Personal Care Company, a US-based consumer products manufacturing company specializing in the manufacture and sale of personal care products, acquired Billy, Inc. Acquired for $3100 million. With this acquisition, Edgewell enhances its organization's customer-centric digital capabilities and the U.S. Strengthens its position in the mid-level key market of women's shaving and expands its portfolio of razors, shaving creams, makeup wipes, body lotions, lip balms, dry shampoos, and body wash products. It also enhances Billy's ability to take advantage of significant growth opportunities utilizing our retail distribution platform and marketing channels. Billy Inc. is a consumer brand company established in the United States that is a market leader in supplies and body products.
- Tatcha LLC was acquired by London-based consumer goods company Unilever for $500 million in June 2019. Unilever is expanding its portfolio with this acquisition.
Hand Cream Key Market Trends
- A key trend in the hand cream market is the use of beneficial ingredients such as herbs and essential oils to heal and regenerate the skin. A hand cream with 50-60% aloe vera gel provides deep moisture to the skin for comfortable and soft hands. This cream can be applied to important dry skin areas like knees and elbows to restore dry and damaged skin. The delicate fragrance released by these natural ingredients encourages repeated use of this aloe vera hand cream. Using natural ingredients in hand creams is a major trend in the global hand cream market.
Hand Cream Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our global hand cream market analysis, by region, the Asia Pacific accounted for the highest market share of global market. Asia Pacific is predicted to be the fastest-growing regional market for hand cream during the forecast period. The rise in the number of working women population across the globe and the increase in spending on premium skin care products boosts the market growth. Also, an increase in consumer awareness regarding moisturizing hands after hand washing and sanitization fuels the growth of the hand cream market. However, the high market price of hand cream is expected to hamper the growth of the market. Also, the rise in demand for skin care products with safe & sustainable ingredients and the rapid growth of online retail platforms give more opportunities for market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 416 million |
| Market size value in 2031 | USD 434.4 million |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hand Cream Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hand Cream Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hand Cream Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hand Cream Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hand Cream Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hand Cream Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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