The latest report by IMARC Group, titled “Hand Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global hand cream market reached US$ 416 Million in 2021. Hand creams are moisturizing skin care products that keep the hands nourished and smooth. They comprise anti-aging, whitening, overnight, and repair hand creams that restore skin damage. They also assist in reducing the signs of premature aging, boosting moisture levels and skin elasticity, preventing dryness, and protecting against ultraviolet (UV) exposure, which results in cracking and pigmentation. In addition, they help prevent viral infections that may enter the body via damaged or unprotected skin.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hand Cream Market Trends:
The growing utilization of overnight and whitening creams to treat skin problems, such as aging spots, acne scars, or hormone discoloration, represents one of the key factors driving the market. Besides this, there is a rise in the number of endorsements from celebrities and social media influencers across the globe. This, along with the expanding e-commerce industry, is contributing to the growth of the market. In addition, the wide availability of hand creams through online and offline distribution channels is offering lucrative growth opportunities to industry investors. Apart from this, the rising awareness among the masses about the benefits of using hand creams after washing and sanitizing is propelling the growth of the market. Moreover, key market players are extensively investing in research and development (R&D) activities to introduce hand creams with ingredients, such as herbs and essential oils, which is positively influencing the market. Other growth-inducing factors are the increasing expenditure on premium body care products, the rising beauty consciousness, and rapid urbanization. Looking forward, IMARC Group expects the market to reach US$ 585.2 Million by 2027, exhibiting a CAGR of 5.8% during the forecast period (2022-2027).
- Based on the product, the market has been classified into repair hand cream, anti-aging hand cream, whitening hand cream, overnight hand cream, and others. Presently, repair hand cream holds the largest share in the market.
- On the basis of the age group, the market has been bifurcated into generation X, baby boomers, millennials, and generation Z. Amongst these, generation X dominates the market.
- Based on the demographic, the market has been bifurcated into male and female. At present, the female segment exhibits a clear dominance in the market.
- On the basis of distribution channel, supermarkets and hypermarkets dominate the market. Other channels include specialty stores, pharma and drug stores, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report, with some of the key players being Australian Native Botanicals, Beiersdorf AG, Coty Inc., Glossier Inc., Johnson and Johnson, Marks and Spencer plc, Sanofi S.A., Shiseido Company Limited, The Clorox Company, The Procter and Gamble Company, and Unilever plc.
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