Hand Cream Market Analysis, Growth By Top Companies, Trends ...| MENAFN.COM

Sunday, 02 October 2022 09:59 GMT

Hand Cream Market Analysis, Growth By Top Companies, Trends By Types And Application, Forecast To 2021-2027


(MENAFN- EIN Presswire)

hand cream

Hand cream is a premium cream for hands that helps to keep hands soft, smooth, and hydrated for a longer period

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, September 23, 2022 /EINPresswire.com / -- Allied Market Research recently published a report, titled, 'Hand Cream Market by Product Type (Repair Hand Cream, Anti-Aging Hand Cream, Whitening Hand Cream, Overnight Hand Cream and Others), Demographics (Male and Female), Age Group (Baby Boomers, Millennial, Generation X, and Generation Z), and Sales Channel (Supermarket/Hypermarket, Specialty Stores, Beauty Salon, Pharma & Drug Store, and Online Store): Global Opportunity Analysis and Industry Forecast, 2021–2027'. As per the report, the global hand cream industry was pegged at $336.2 million in 2019, and is projected to reach $655.6 million by 2027, growing at a CAGR of 6.2% from 2021 to 2027.

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Major determinants of the market

Rise in awareness about moisturizing hands after handwash, product innovation, and rise in working women population drive the growth of the global hand cream market. However, high price of hand cream hampers the market growth. On the contrary, surge in demand for skincare products with safe & sustainable ingredients and rapid growth of the online retail platform are expected to create lucrative opportunities for the market players in the future.

Major market players

Unilever
Johnson & Johnson
Philosophy INC.
Beiersdorf
Procter & Gamble
Sanofi Consumer Health Inc.
Shanghai Jahwa United Co., Ltd
Marks and Spencer plc.
Henkel AG & Co.

Hand cream is a premium cream for hands that helps to keep hands soft, smooth, and hydrated for a longer period. There are different variants of hand cream available in the market that includes repairing hand cream, protective hand cream, hand cream with SPF, scented hand cream a, unscented hand cream, and others. The hand cream market is experiencing an exponential growth due to the rising consumer awareness of moisturizing hands after hand wash and sanitization. In addition, expansion of distribution channels, such as online stores, supermarkets, hypermarkets, specialty store, and others, has made these hand cream to be easily available to customers, thereby contributing to the hand cream market growth. Moreover, use of hand cream containing ingredients & fragrances such as fruity & gourmand, creamy & nutty, super foods, fresh notes & aromatherapy are some of the leading hand cream market trends now.

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COVID-19 pandemic Analysis :-

COVID-19 pandemic, hand cream was considered as a luxury or premium hand care product. The need for soft hands existed before this pandemic, but was majorly among the niche segment consumers. However, now this product category is moving to the essential space. The current scenario has brought the attention of consumers toward moisturizing hands after hand washing & sanitization and to maintain hygiene . This is attributable to the fact that the washing of hands daily leaves hand rough, dry and stretched. This in turn has increased the demand for hand cream in the market during this pandemic ultimately contributing in fueling the growth of hand cream market.

The global hand cream market analysis is segmented into product type, demographics, age group, distribution channel, and region. By product type, the hand cream market is classified into repair hand cream, anti-aging hand cream, whitening hand cream, overnight cream, and Others. By demographics, it is divided into male and female. By age group, it is segmented into baby boomers, millennials, generation X, generation Z. On the basis of sales channel, it is segregated into Supermarket/Hypermarket, specialty stores, beauty salon, pharma & drug store, and online Store. Region-wise, the hand cream market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Furthermore, by sales channel, the e-commerce segment is anticipated to be the fastest-growing segment, in terms of value sales, during the hand cream market forecast period, owing to the rise in use of online platforms or e-commerce for purchase of hand cream among customers. This is attributed to easy availability of different brands, designs, and types of hand cream available through online platforms. Moreover, online store has time-saving features and the facility of home delivery, which made consumers incline toward online stores. In addition, owing to the COVID-19 pandemic, consumers have restrained themselves to go outside their homes and in crowded places such as supermarkets and hypermarket. This has increased the distribution of hand cream through online stores in terms of value sales.

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David Correa
Allied Analytics LLP
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