PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616162
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616162
Hand Cream Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Hand Cream Market was valued at USD 842.9 million in 2023 and is projected to grow at 6.1% CAGR from 2024 to 2032. This market has witnessed considerable expansion driven by several key factors. One primary catalyst is the increasing awareness of hand hygiene, significantly heightened by the global health crisis. As consumers engage in more frequent handwashing and use hand sanitizers, there is a growing demand for hand creams that moisturize while shielding the skin from the drying effects associated with these practices. In addition, rising disposable incomes and a growing middle-class population worldwide have fueled the demand for personal care products, including hand creams.
As consumers' purchasing power increases, they are more inclined to invest in products that elevate their skincare routines. This trend has led to a greater interest in premium and luxury hand creams, with consumers actively seeking items that provide enhanced benefits, advanced formulations, and prestigious branding. The market is categorized by product type into natural and synthetic formulations. In 2023, natural products led the market with revenues of USD 526.7 million and are expected to grow at a CAGR of 6.2% over the forecast period.
This growth is primarily driven by rising consumer awareness regarding the advantages of natural and organic ingredients. Heightened concerns about synthetic chemicals, along with a growing preference for eco-friendly and skin-safe options, are propelling the shift towards natural formulations. When analyzing distribution channels, the hand cream market is divided into online and offline segments. Online sales dominated the market in 2023, capturing a substantial 62.6% share.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $842.9 Million |
| Forecast Value | $1.43 Billion |
| CAGR | 6.1% |
This channel is expected to grow at a CAGR of 6.2% during the forecast period. The convenience and accessibility offered by online platforms enable consumers to purchase hand cream products from the comfort of their homes, unrestricted by geographical barriers. The increase in online shopping is further accelerated by a rise in overall online spending and growing consumer confidence in purchasing personal care products online. In North America, the hand cream market accounted for approximately USD 165.4 million in 2023 and is anticipated to grow at a CAGR of 6% from 2024 to 2032. The self-care movement has inspired consumers to seek premium hand creams with soothing and nourishing effects, leading to an expanded product variety in the market.Brands are responding to this trend by formulating products with beneficial ingredients to cater to consumers who prioritize effective and high-quality hand care solutions.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Increasing awareness of hand hygiene
- 3.2.1.2 Rising disposable incomes
- 3.2.1.3 Increased demand for premium and luxury products
- 3.2.1.4 Increased awareness of skin health
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Intense competition
- 3.2.2.2 Presence of counterfeit products
- 3.2.1 Growth drivers
- 3.3 Technology & innovation landscape
- 3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
- 3.5 Growth potential analysis
- 3.6 Regulatory landscape
- 3.7 Pricing analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 - 2032, (USD Million) (Thousand Units)
- 5.1 Key trends
- 5.2 Natural
- 5.3 Synthetic
Chapter 6 Market Estimates & Forecast, By Application, 2021 - 2032, (USD Million) (Thousand Units)
- 6.1 Key trends
- 6.2 Daily moisturizing
- 6.3 Intensive repair
- 6.4 Anti-aging
- 6.5 Sun protection
- 6.6 Whitening/Brightening
- 6.7 Fragrance-Based
- 6.8 Others (Exfoliation, etc.)
Chapter 7 Market Estimates & Forecast, By Pack Size, 2021 - 2032, (USD Million) (Thousand Units)
- 7.1 Key trends
- 7.2 Below 50 ml
- 7.3 50 ml - 100 ml
- 7.4 100 ml - 200 ml
- 7.5 Above 200 ml
Chapter 8 Market Estimates & Forecast, By Price, 2021 - 2032, (USD Million) (Thousand Units)
- 8.1 Key trends
- 8.2 Low
- 8.3 Medium
- 8.4 High
Chapter 9 Market Estimates & Forecast, By End Use, 2021 - 2032, (USD Million) (Thousand Units)
- 9.1 Key trends
- 9.2 Commercial
- 9.3 Household
Chapter 10 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032, (USD Million) (Thousand Units)
- 10.1 Key trends
- 10.2 Online
- 10.3 Offline
Chapter 11 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Million) (Thousand Units)
- 11.1 Key trends
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 Australia
- 11.4.6 Malaysia
- 11.4.7 Indonesia
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.6 MEA
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 South Africa
Chapter 12 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
- 12.1 Avon Products, Inc.
- 12.2 Beiersdorf AG
- 12.3 Clarins
- 12.4 Colgate-Palmolive Company
- 12.5 Coty Inc.
- 12.6 Johnson & Johnson
- 12.7 Kao Corporation
- 12.8 L'Oreal S.A.
- 12.9 LVMH - Sephora
- 12.10 Procter & Gamble Co.
- 12.11 Revlon Inc.
- 12.12 Shiseido Company, Limited
- 12.13 The Body Shop
- 12.14 The Estee Lauder Companies Inc.
- 12.15 Unilever
