The global hand wash market size was USD 3,294.6 million in 2020. The market is projected to grow from USD 2,742.3 million in 2021 to USD 4,286.4 million in 2028 at a CAGR of 6.6% in the 2021-2028 period.
This
crucial piece of information is presented by Fortune Business Insights™, in its report, titled, “Hand Wash Market, 2021-2028.”
According
to our analysts, increasing occurrence
of ailments such as diarrhea, intestinal sickness, and others, combined with
the rising hygiene alertness among the global population, affects the demand
for personal care products. Additionally, surging dust and environmental contamination
concerns across the world, give an escalation to the requirements for skin
hygiene and sanitary products.
List of Key Players
Covered in the Hand Wash Market Report
- Unilever PLC (U.K.)
- Avon Product, Inc. (U.K.)
- S. C. Johnson & Son, Inc. (U.S.)
- Amway Corporation (U.S.)
- Henkel AG & Co. KGaA (Germany)
- The Procter & Gamble Company (U.S.)
- Reckitt Benckiser Group PLC (U.K.)
- Vi-Jon, Inc. (U.S.)
- Godrej Group (India)
- 3M (U.S.)
Report Coverage
We
provide our reports which are conducted with an all-inclusive examination
approach that majorly emphasizes on delivering precise material. Our scholars
have applied a data triangulation method which further assists us to offer
trustworthy estimations and test the general market dynamics accurately.
Further, our analysts have received admission to numerous international as well
as regional funded registers for providing the up-to-date material so that the
stakeholders and business professionals invest only in essential zones.
Drivers and Restraints
Growing Health Alertness
among Individuals to Support Market Growth
The development of the world-wide economy has occasioned a varying
lifestyle and an augmented standard of life and therefore, the implementation
of a health-alert attitude towards life. This bolsters the utilization of
personal care products for health safeguarding resolutions.
Moreover, the huge
existence of hospitals and clinical infrastructure is anticipated to enhance
the demand of sanitary products, as numerous hygiene and personal care products
are fundamentally utilized in hospitals to preserve hygiene and a bacteria-free
surrounding. This is expected to boost the hand wash market growth during the
forecast period.
Read
a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/hand-wash-market-102846
COVID-19 Impact
Unclear Incidences
of Pandemic and Increasing Personal Hygiene Care to Fuel Growth
Rising consciousness associated with personal sanitation, specifically in
the rural parts, coupled with the indefinite incidences of diseases such as
COVID-19 virus spread, SARS, as well as MERS are probable to bolster the demand
for sanitary product; these products aid to prevent human-to-human contagion communication
pace.
As per the article published by the American Academy of Family
Physicians, in April 2020, rigorous washing of palm and fingers in an appropriate
method is yet the best procedure to fortify oneself against the spread of the
novel coronavirus.
To get to know more about
the short-term and long-term impact of COVID-19 on this market, please visit:
Regional Insights
North America hand wash market stood at USD 1,118.32 million in
2020. North America held the maximum hand wash market shares owing to the surging
demand for palm washing products, especially due to an all-encompassing incidence
of the COVID-19 outbreak in nations such as the U.S. and Canada.
Asia Pacific is projected
to hold the second-largest position in the market over the forecast period of
2021-2028. The mounting suburbanization pace in leading nations such as China
and India would result in the implementation of improved and sanitized habits
among people.
Europe is predicted
to be the fastest-growing region during the forecast period on account of the existence
of mega hand sanitizing production brands such as L’Oréal, Avon, Unilever, and
others.
Competitive Landscape
Novel Presentations and Procurements
Set to Augment Market Growth
Chief
players in the market frequently come up with competent tactics that involve collaborations
and partnerships, procurements and mergers, product unveilings and so on. These
approaches elevate their position as dominating players and profit the other engaged
companies as well.
Industry Development
April 2020: Marico declared the unveiling of Mediker SafeLife hand wash, in
Bangladesh. This presentation is estimated to lead to the sale of the product
at a promotional cost, plus the excess money earned in the upcoming 6 months will
be offered to the Prime Minister Relief Fund, to tackle the emergency crisis of
coronavirus.
Read
Press Release: https://www.fortunebusinessinsights.com/press-release/hand-wash-market-9975
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