IMARC Group, a leading market research company, has recently released a report titled “Hand Cream Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global hand cream market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Hand Cream Industry?
According to the report, The global hand cream market size reached US$ 440.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 617.9 Million by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
What is Hand Cream?
Hand cream is a body care product that contains water, triethanolamine, propylene glycol, stearic acid, methyl stearate, lanolin, and mineral oil. It has a thick consistency compared to lotions due to its strong emollient base. It is formulated to prevent dryness, combat premature aging signs, boost moisture levels and skin elasticity, and protect against UV exposure that can cause cracking and pigmentation. Currently, hand cream is gaining immense traction across the globe to reduce the clinical symptoms of irritant contact dermatitis.
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What are the growth prospects and trends in the Hand Cream industry?
The global hand cream market is primarily driven by the rising utilization of overnight and whitening creams to treat skin issues, including aging spots, acne scars, or hormone discoloration. Moreover, the increasing consumer awareness about the benefits of using hand creams after washing and sanitizing has catalyzed market growth. Additionally, several key players are investing heavily in research and development (R&D) activities to introduce hand creams with natural ingredients, such as herbs and essential oils, thereby positively influencing the market growth. Besides this, the rising endorsements by celebrities and social media influencers worldwide and the significant expansion of the e-commerce industry are other major growth-inducing factors. Furthermore, easy product availability through online and offline distribution channels is contributing to the market growth. Other factors, including increasing consumer expenditure on premium body care products, rising beauty consciousness, and rapid urbanization, are also anticipated to propel the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Repair Hand Cream
- Anti-Aging Hand Cream
- Whitening Hand Cream
- Overnight Hand Cream
- Others
Breakup by Age Group:
- Generation X
- Baby Boomers
- Millennials
- Generation Z
Breakup by Demographic:
- Male
- Female
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharma and Drug Stores
- Online Store
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Australian Native Botanicals
- Beiersdorf AG
- Coty Inc.
- Glossier Inc.
- Johnson & Johnson
- Marks and Spencer plc
- Sanofi S.A.
- Shiseido Company Limited
- The Clorox Company
- The Procter & Gamble Company
- Unilever plc.
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