Hand Wash Market Size, Trends, Outlook, Manufacturers and 2027 Forecast

Hand Wash Market Size, Trends, Outlook, Manufacturers and 2027 Forecast

The global hand wash market size is anticipated to gain impetus from the increasing government initiatives to promote the usage of personal care products. Many regulatory bodies and NGOs are also encouraging the usage of hand wash and sanitizers through social media platforms, websites, print media, television, and radio. This information is given by Fortune Business Insights™ in a recent report, titled, “Hand Wash Market Size, Share & Industry Analysis, By Product (Ordinary Hand Wash and Waterless Hand Wash), End-User (Commercial, Residential, and Industrial), Sales Channel (Pharmacy Stores, Supermarket/ Hypermarket, Online Channels, and Others), and Regional Forecast, 2020-2027.” The report further states that the hand wash market size was USD 2.67 billion in 2019 and is projected to reach USD 4.56 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Segment-

Ordinary Hand Wash Segment to Lead Owing to Their High Demand Worldwide

Based on the product, the market is bifurcated into waterless hand wash and ordinary hand washes. Amongst these, the ordinary hand wash segment held 65.11% hand wash market share in 2019. This segment is expected to lead the market throughout the forthcoming years. The growth is attributable to their high demand worldwide as they are capable of providing more bacterial protection and hydration to the skin. These products are available in two forms, namely, liquid and gel. The waterless segment is likely to showcase considerable growth backed by its ability to aid in drying the palms quickly. They are either spray- or foam-based products.

Regional Analysis-

The Asia Pacific to Remain at the Forefront Stoked by Rapid Urbanization

Regionally, the market is segregated into the Middle East and Africa, Europe, Asia Pacific, Latin America, and North America. Amongst these, Asia Pacific generated USD 818.02 million in terms of revenue in 2019 and is set to dominate the market in the coming years. The main reason behind this growth is the rapid urbanization in developing nations, such as India and China. It is thereby, propelling people to adopt hygienic and healthier routines. Also, governmental awareness programs, such as the Swachh Bharat Mission in India would upsurge growth. The data provided by the Press Information Bureau exhibits that owing to the launch of this mission, the overall sanitation coverage in the rural areas of India went up from 39% in 2014 to 76% in January 2018. North America, on the other hand, is projected to remain in the second position fueled by the rising demand for hand cleaning products from countries such as Canada and the U.S. It is attributable to the outbreak of the Covid-19 pandemic.

Information source: https://www.fortunebusinessinsights.com/hand-wash-market-102846

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