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 News

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.

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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 market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of 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. '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 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'

Rise in the number of working women population across the world

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 hand cream market.

The Asia Pacific accounted for the highest market share of 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.

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