Deep Analysis of Impact of COVID-19 on “Hand Care Market 2019-2025” Growth Worldwide….



The global hand caremarket size is anticipated to reach USD 16.9 billion by 2025,expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. The market is driven by increasing health, hygiene, and wellness concerns, risks of communicable diseases, rise in health expenditure, and change in lifestyle.
Leading players of the market include Unilever; Procter & Gamble; Johnson & Johnson Services, Inc.; PHILOSOPHY, INC.; Coty Inc.; Beiersdorf; Lynx; Whealthfields Lohmann; and Jahwa. Companies are focusing on product launches, natural and organic product development, and adding soothing fragrances in order to gain competitive advantage over others. For instance, Amway India launched “Persona Germ Protection and Moisturizing” liquid hand wash, which is free from widely used preservatives like sulphate, paraben, and triclosan.
The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
The market finds vast applications, majorly focusing on hand hygiene. According to WHO, the primary measure to reduce infections is hand hygiene. Moreover, challenges like “Clean Care is Safer Care” by WHO to improve and promote hygiene practices and standards are contributing to the growth of the hand care market.
In 2018, the hand wash segment held the largest share of over 40.0% owing to its benefits of providing basic hygiene. Based on the U.S. Census data and Simmons National Consumer Survey (NHCS), 298.63 million Americans used liquid hand wash. The sanitizer segment is expected to expand at a CAGR of 4.8% over the forecast period due to its hassle free use. The beauty products market is also expected to witness significant growth over the next few years due to availability of a large variety of care solutions catering to specific problems. These products include moisturizers and sunscreens. For instance, a new e-commerce startup named Public Goods, which deals in hand care products with natural and organic products, have moisturizers and sunscreens to protect the skin.
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https://www.grandviewresearch.com/industry-analysis/hand-care-market/request/rs4
On the basis of distribution channel, the online segment is anticipated to expand at the highest CAGR over the forecast period. The growth is a result of high penetration of e-commerce and usage of smart phones. For instance, the user penetration of e-commerce was 51.0% in 2019 and is expected to hit 58.5% in 2023. Asia Pacific held the largest share due to high product consumption, majorly hand creams. The Middle East and Africa is expected to exhibit the highest CAGR of 5.1% during the forecast period owing to increasing demand.
Further key findings from the study suggest:
·         On the basis of product type, the sanitizer segment is expected to exhibit the highest CAGR of 4.8% over the next few years. Hand wash held the largest share of more than 40.0% in 2018 and is expected to maintain its share in the coming years
·         Hypermarket & supermarket accounted for the largest share in terms of revenue among the distribution channels. The online segment is estimated to expand at the highest CAGR over the forecast period
·         Various manufacturers are concentrating on new product launches, organic and natural ingredients, and product innovation to gain competitive advantage.
The global hand care market size was valued at USD 12.4 billion in 2018 and is anticipated to expand at a CAGR of 4.5% from 2019 to 2025. The market is driven by increasing need to maintain hand hygiene, inclination of consumers towards health and wellness, and rise in health expenditure.
Companies like Reckitt Benckiser Group plc and Hindustan Unilever have taken initiatives in India to spread awareness about hand hygiene. For instance, the leading hand wash brands such as Dettol and Lifebuoy aimed to remind about 100 million people to wash hands before they eat using innovative ideas. These instances are accelerating the growth of the market by educating people about hygiene.
Initiatives taken by the WHO and FDA to make people aware about hand hygiene and harmful diseases associated with it are expected to support the market growth. Moreover, social media and online channels are making people exposed to information regarding clean and healthy lifestyles. These factors are improving the living standards and increasing health expenditure, thereby increasing the traction of the global market.
The market growth can be hampered by the health hazards associated with chemical ingredients, such as allergies. However, these issues can be resolved in the future as companies are focusing on product innovation like use of organic ingredients, antibacterial properties of the product, and addition of soothing fragrances, which is expected to spur the growth of the global market.
Hand wash and sanitizer are basic products that are used for hygiene and they hold a larger share altogether. The hand wash segment accounted for the largest share of over 40.0% and is expected to maintain its uniformity owing to its characteristic of providing basic hygiene and its application in almost every industry.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-hand-care-market
Grand View Research has segmented the global hand care market on the basis of product type, distribution channel:
Hand Care Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
·         Beauty Product
·         Hand Wash
·         Sanitizer
Hand Care Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Online
·         Drugstore
·         Supermarket & Hypermarket
·         Specialty Stores
Hand sanitizer is projected to expand at the highest CAGR of 4.8% over the forecast period. This segment is gaining popularity due to its benefits such as easy to carry and hassle free use. Manufacturers are continuously focusing on product development with the aim of making sanitizers more effective thus increasing the growth of this segment. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), sanitizers with more than 60.0% alcohol are most effective.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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