Hand Cream Market

The global hand cream market size was valued at $336.2 million in 2019, and is projected to reach $655.6 million by 2027, registering a CAGR of 6.2% from 2021 to 2027.

Hand cream is a type of skin care product that is specifically meant to provide moisture to hands. Hand cream provides moisture to hands for a longer period than a hand lotion owing to its thick consistency. There are different variants of hand creams available in the market that includes anti-aging hand cream, whitening hand cream, overnight hand cream, repair hand cream and others. Additionally, the hand cream market analysis is done on the basis of regions, key players and segments.

The COVID-19 pandemic has shown a positive impact on this market. This is attributable to the fact that consumers across the globe are now increasingly becoming aware of moisturizing their hands after hand wash or sanitizing in order to provide moisture and hydration to their hands. This, in turn, has increased the global demand for hand cream, which positively impacts the hand cream market growth in terms of value sales.

The global hand cream market segment is categorized into product type, demographics, age group, sales channel, and region. By product type, the hand cream market is classified into repair hand cream, anti-aging hand cream, whitening hand cream, overnight cream and others. By demographics, it is divided into male and female. By age group, it is segmented into Baby boomers, millennial, generation X, and generation Z. On the basis of sales channel, it is segregated into supermarket/hypermarket, specialty stores, beauty salon, pharma & drug store, and online store. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France,  UK, Italy, Spain , Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, ASEAN, Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia , South Africa, Turkey and  Rest of LAMEA).

On the basis of product type, the repair hand cream segment accounted for the highest hand cream market share in 2019, with a CAGR of 4.9%. Repair hand cream is a type of moisturizing cream and contains ingredients glycerin, niacinamide vitamin-rich shea butter, vitamin F, Omega-3 & -6 and others. It helps to moisturize & repair extremely chapped and dry hands and provides hands a protective barrier to prevent dehydration and ruptures of skin. Thus, it instantly relieves the tightness & dryness leaving hands soft & hydrated for hours. Hence, its demand among consumers toward personal care products is on the rise. This, in turn boost the hand cream market demand. However, the anti-aging hand cream segment is expected to witness a significant growth during the hand cream market forecast period, owing to growing physical appearance consciousness among consumers, which has driven the demand for anti-aging products including anti-aging hand cream in the market. This in turn has driven the overall growth of the hand cream market.

By demographic, the female segment accounted for the highest global hand cream market share in 2019. According to the catalyst, the working women population globally accounted for 39.0% in 2019. This global rise in the working women population acts as a major driver for the hand cream market, This is attributed to the fact that women are the major consumers of hand care products and this upsurge in working women population leads to rise in purchase power, which contribute toward the increase in the personal care product such as hand cream among women .This in turn has fueled the hand cream market growth in terms of value sales.

By age-group, the generation X segment accounted for the highest market share in the global hand cream market in 2019. Generation X consumers possess high purchase power and prefer products from retail brand stores, as it enhances their shopping experience and provides value for money product. In addition, the consumers of this age group are majorly conscious for their physical appearance products such as anti-aging cream, and other creams, which prevent aging and improve skin radiance are more preferred by this generation. This in turn has increased the demand for hand cream, especially anti-aging and overnight hand cream among these consumers in the market. This, in turn, propels the market growth. However, the millennial segment is expected to witness a significant growth during the forecast period. Millennials focus on transparency of product ingredients along with the source of ingredients and how they are made. They are inclined toward natural ingredient and clean label hand care products, which acts as the key driver of the the market.

By distribution channel, in 2019, the supermarket/hypermarket segment accounted for the highest market share in the global hand cream market. These stores offer a variety of brands in a product category including hand cream; thus, offering more options for customers to buy different variants of hand cream as per their choice. Moreover, staff present in these stores also provide knowledge on different types of hand cream, explanation of skin benefits associated with them, and others. This, in turn, boosts the market growth.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the highest market share in 2019. This is attributed to huge demand for skin care products and presence of many manufacturers of hand cream in this region. In addition, rise in consumer awareness regarding moisturizing hand after washing and sanitizing in the outbreak of coronavirus disease has driven the growth of the the market. Furthermore, rise in aging population has also escalated the demand for anti-aging hand cream market, which in turn is contributing in boosting the overall growth of the market.

The key players operating in the global hand cream market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global hand cream industry analyzed in this report include Unilever, Philosophy INC., Johnson & Johnson, Procter & Gamble, Beiersdorf, Shanghai Jahwa United Co., Shiseido Co., Ltd, Ltd, Sanofi Consumer Health Inc., Henkel AG & Co. and Marks and Spencer plc.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current hand cream market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
• The key countries in four major regions have been mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the hand cream market size and segmentation assists in determining the prevailing hand cream market opportunity.
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as global market, key players, market segments, application areas, gender areas and growth strategies.

 Hand Cream Market Report Highlights