Global Hand Cream Market
Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Hand Cream Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research highlighting significant growth in the global hand cream market reveals an optimistic future for the industry. According to the research, the market, which stood at USD 440.5 million in 2022, is projected to extend to USD 617.9 million by 2028, flourishing at a compounded annual growth rate (CAGR) of 5.80% during the forecast period from 2022 to 2028.
Surge in Awareness Regarding Hand Hygiene and Skincare Innovation Fuels Market Expansion
The surge in the global hand cream market is attributed to a pronounced emphasis on hand hygiene, particularly due to the COVID-19 pandemic that urged the prioritization of skin care and protection. As frequent hand washing became the new norm, the demand for hand creams that prevent dryness and irritation witnessed a substantial increase.
Moreover, the eco-conscious consumer behavior is pushing brands to introduce products comprised of organic and vegan ingredients. Market leaders have capitalized on this trend by launching innovative hand creams with alluring, biodegradable packaging that resonates with environmentally aware customers.
Robust Promotional Strategies and E-commerce Growth Propel Market Dynamics
Top players in the market are sharpening their competitive edge by implementing vigorous marketing campaigns, including celebrity endorsements to boost brand awareness. Additionally, the pervasive use of smart devices and internet penetration has bolstered the e-commerce channel, making it a lucrative platform for sales and distribution.
The market study offers a detailed breakdown by product, age group, demographic, and distribution channel:
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Repair Hand Cream
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Anti-Aging Hand Cream
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Whitening Hand Cream
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Overnight Hand Cream
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Generation X
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Baby Boomers
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Millennials
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Generation Z
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Male
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Female
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Supermarkets and Hypermarkets
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Specialty Stores
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Pharma and Drug Stores
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Online Stores
Regional insights provide targeted analysis for areas including North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. This segmentation is critical in understanding the specific preferences and trends that dominate each geographical locale.
The competitive landscape section of the report assesses key industry contenders, outlining strategic initiatives and product innovations that underline the market's dynamic nature.