The hand cream and hand lotion market consists of sales of hand creams and hand lotions and related services. Hand cream and hand lotion are a topical formulation with low to medium viscosity, intended for unbreakable skin application. Many lotions, especially hand lotions and body lotions, are developed simply to smooth, rehydrate and soften the skin.
The global hand cream and hand lotion market is expected to decline from $5.11 billion in 2019 to $4.92 billion in 2020 at a compound annual growth rate (CAGR) of -3.63%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $6.69 billion in 2023 at a CAGR of 10.8%.