Market Size of Hand Care Industry
|2019 - 2029
|Market Size (2024)
|USD 8.33 Billion
|Market Size (2029)
|USD 10.28 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Hand Care Market Analysis
The Hand Care Market size is estimated at USD 8.33 billion in 2024, and is expected to reach USD 10.28 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029).
- The market is mainly driven by the increasing need to maintain hand hygiene and the rising consumer expenditure power on health. Also, government organizations' awareness of clean and healthy lifestyles is increasing through social media and online channels. Even the United States Centers for Disease Control and Prevention (CDC) organized a 'Clean Hands Count' campaign to improve healthcare provider adherence, addressing the myths and misperceptions about hand hygiene.
- In 2018, World Health Organization (WHO) also organized a hand hygiene campaign, 'Make a Difference-Prevent Sepsis in Health Care,' which was conducted to substantially impact the burden of sepsis in health care. Therefore, every year World Hand Hygiene day is celebrated on the 5th of May globally. As a part of the campaign, they promote the idea, the actions, and the products associated with Hand Hygiene.
- Geographically, North America dominates the global hand care market, owing to high hygiene standards among the United States population. Moreover, Asia-Pacific is expected to witness the highest growth rate from the last decade, owing to an increase in concern towards health and wellness paired with a rise in disposable income.
- However, the main challenge in the hand care market growth is the allergies arising due to the chemical ingredients used in the products by a few of the companies. Manufacturers are adding natural components like aloe vera to their products to prevent the rough skin that alcohol-based hand sanitizers create. Key market players are pushing the usage of hand sanitizers/hand care products through media coverage, advertising, and promotional initiatives. This is assisting them in increasing their market share in the global market and attracting more customers.