PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401390
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401390
Global Hand Wash Market is valued at approximately USD 3.67 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.99% over the forecast period 2023-2030. Hand wash has gained widespread popularity as an essential personal care product, offering effective germ protection for hands. The growing prevalence of diseases such as diarrhea and intestinal disorders, combined with increasing global hygiene awareness, is driving the demand for personal care essentials. Additionally, the escalating issues of dust and environmental pollution worldwide underscore the need for skin hygiene and hygiene-related products. In the present scenario, manufacturers are actively exploring both synthetic and natural ingredients to formulate various personal care products, aiming to deliver efficient cleaning alternatives. Companies are introducing a variety of uniquely shaped packaging for sanitary items to capture consumer attention. The key to developing personal care products lies in launching innovative solutions and effectively managing inventory and supply chains.
In addition, the cohesive research conducted by leading healthcare institutions consistently demonstrates the effectiveness of hand cleaning in limiting the transmission of various germs. The Centers for Disease Control and Prevention (CDC) strongly advises the regular washing of hands with soap and water, emphasizing that this practice diminishes the presence of germs and chemicals on the hands. Additionally, a recent study conducted by the Massachusetts Institute of Technology (MIT) in February 2020 underscores the impact of improved handwashing rates among travelers at the world's top ten airports, indicating a substantial reduction in the transmission of numerous infectious diseases, including COVID-19. Also, as detailed in the article titled 'Show Me the Science - Why Wash Your Hands?' published by the Centers for Disease Control and Prevention, handwashing education in the United States is projected to lead to a substantial decrease in illness rates. Specifically, it is estimated to reduce sickness caused by diarrhea by 23-40%, respiratory infections by 16-21%, and gastrointestinal illnesses by 29-57%. Thus, increasing awareness of the importance of hand hygiene aforementioned factors are propelling the growth of the hand wash market during the estimated period. Moreover, the rise in several government initiatives, as well as increasing disposable income presents various lucrative opportunities over the forecast years. However, the higher cost of raw materials and availability of substitute products are hampering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Hand Wash Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high demand for palm cleansing products in response to the widespread impact of the COVID-19 outbreak in countries such as the U.S. and Canada. Data released by the World Health Organization (WHO) reveals a substantial toll, with 103.44 million confirmed COVID-19 cases and 1.13 million fatalities in the U.S. from January 2020 to May 2023. Additionally, the region benefits from a robust presence of various beauty and personal care companies, including industry leaders such as Gojo Industries Inc. and Hand Sanitizer Inc., which are expected to enhance the availability of sanitary products. Whereas, Europe is expected to grow at the highest CAGR over the forecast years. The growing awareness regarding hygiene and cleanliness, supported by various governmental promotions and programs, is poised to be a catalyst for market growth in the region. Additionally, the presence of industry giants in hand cleaner manufacturing, including renowned brands such as L'Oreal, Unilever, Avon, and so on are further burgeoning the market growth. These brands employ sophisticated promotional strategies that effectively draw a substantial consumer base in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable