The global hand washmarket is anticipated to gain impetus from the increasinggovernment initiatives to promote the usage of personal care products. Manyregulatory bodies and NGOs are also encouraging the usage of hand wash andsanitizers through social media platforms, websites, print media, television,and radio. This information is given by FortuneBusiness Insights™ in a recent report, titled, “Hand Wash Market Size, Share & Industry Analysis, By Product(Ordinary Hand Wash and Waterless Hand Wash), End-User (Commercial,Residential, and Industrial), Sales Channel (Pharmacy Stores, Supermarket/Hypermarket, Online Channels, and Others), and Regional Forecast, 2020-2027.”The report further states that the hand wash market size was USD 2.67 billion in 2019 and isprojected to reach USD 4.56 billionby 2027, exhibiting a CAGR of 2.8% during the forecast period.
The emergence of COVID-19 hasbrought the world to a standstill. We understand that this health crisis hasbrought an unprecedented impact on businesses across industries. However, thistoo shall pass. Rising support from governments and several companies can helpin the fight against this highly contagious disease. There are some industriesthat are struggling and some are thriving. Overall, almost every sector isanticipated to be impacted by the pandemic.
We are taking continuous efforts tohelp your business sustain and grow during COVID-19 pandemics. Based on ourexperience and expertise, we will offer you an impact analysis of coronavirusoutbreak across industries to help you prepare for the future.
Click here to get the short-termand long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/hand-wash-market-102846
This Report Answers the Following Questions:
· What arethe market trends, hindrances, and growth drivers?
· What arethe challenges and opportunities that the market may face in the coming years?
· Whichstrategies are being adopted by companies to attract more consumers?
· Whichregion would dominate in terms of revenue?
Drivers & Restraints-
Rising Number of Hospitals & Clinics to Skyrocket Demand
There is a rise in the adoption of ahealth-conscious approach towards life across the globe backed by the surge inthe global economy. It has further resulted in higher standards of living andchanging lifestyles of the masses. This is a vital factor that has acceleratedthe demand for personal care products. At present, almost every country isunder lockdown owing to the spread of the coronavirus infection. Hence, peopleare gradually shifting towards stretching and yoga activities to keepthemselves fit and active. Apart from that, the large number of clinics andhospitals worldwide would augment the hand wash market growth in the nearfuture as these medical institutions extensively use such personal careproducts to provide a germ-free environment and maintain sanitation. However, theraw materials used in the production of hand wash are expensive. It may hampergrowth.
Segment-
Ordinary Hand Wash Segment to Lead Owing to Their High Demand Worldwide
Based on product, the market is bifurcatedinto waterless hand wash and ordinary hand wash. Amongst these, the ordinaryhand wash segment held 65.11% hand wash market share in 2019. This segment isexpected to lead the market throughout the forthcoming years. The growth isattributable to their high demand worldwide as they are capable of providingmore bacterial protection and hydration to the skin. These products areavailable in two forms, namely, liquid and gel. The waterless segment is likelyto showcase considerable growth backed by their ability to aid in drying thepalms quickly. They are either spray- or foam-based products.
Regional Analysis-
Asia Pacific to Remain at the Forefront Stoked by Rapid Urbanization
Regionally, the market is segregatedinto the Middle East and Africa, Europe, Asia Pacific, Latin America, and NorthAmerica. Amongst these, Asia Pacific generated USD 818.02 million in terms ofrevenue in 2019 and is set to dominate the market in the coming years. The mainreason behind this growth is the rapid urbanization in the developing nations,such as India and China. It is thereby, propelling people to adopt hygienic andhealthier routines. Also, governmental awareness programs, such as the SwachhBharat Mission in India would upsurge growth. The data provided by the PressInformation Bureau exhibits that owing to the launch of this mission, theoverall sanitation coverage in the rural areas of India went up from 39% in2014 to 76% in January 2018. North America, on the other hand, is projected toremain in the second position fueled by the rising demand for hand cleaningproducts from countries such as Canada and the U.S. It is attributable to theoutbreak of Covid-19 pandemic.
Competitive Landscape-
Key Players Aim to Introduce Novel Products to Gain a Competitive Edge
The market is highly competitivewith the presence of a large number of big, medium, and small manufacturers. Theyare presently engaging in the strategy of unique product launches to broadentheir product portfolio and to cater to the unmet needs of the masses. Below aretwo of the key industry developments:
· June 2019: Reckitt Benckiser, a multinationalconsumer goods company headquartered in England, introduced its new range ofhand washes and bathing soaps. These products were launched under the company’sone of the most prominent brands, Dettol. The new range is named ‘Dettol co-createdwith moms’ and they are chemical-free.
· September 2019: Fiama Di Wills, an Indianpersonal care brand, recently expanded its product offerings by unveiling Fiamahand washes. These products are developed with the help of mood fragrancetechnology. It not only makes the hand washes softer but also boosts thecategory to a unique experiential zone.
Fortune Business Insights™ presentsa list of all the hand wash manufacturers operating in the market. They are asfollows:
• Godrej Group (India)
• Unilever PLC (UK)
• Amway Corporation (US)
• Avon Product, Inc. (UK)
• 3M (US)
• S. C. Johnson & Son, Inc. (US)
• Henkel AG & Co. KGaA (Germany)
• The Procter & Gamble Company (US)
• Reckitt Benckiser Group PLC (UK)
• Vi-Jon, Inc. (US)
