Hand Cream And Hand Lotion Global Market To Reach Value Of About $ 6.69 Billion In 2023
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%.
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.
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The global hand cream and hand lotion market is further segmented based on type and geography.
By Type: Moisturizing Hand Lotion, Protective Hand Lotion, Repair Hand Crème, Others.
By Application: Adult, Baby.
By Geography: The global hand cream and hand lotion market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America hand cream and hand lotion market accounts for the largest share in the global hand cream and hand lotion market.
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Trends In The Hand Cream And Hand Lotion Market
The hand creams that contain healthy ingredients such as herbs and essential oils that cure and rebuild skin is a key trend in the hand cream and hand lotion market. For instance, the aloe-based hand repair creams made with 60% aloe gel provides deep moisture to the skin for comfortable and soft hands. This cream repairs dry and broken skin and can also be applied to key dry areas of the skin such as knees and elbows.
Hand Cream And Hand Lotion Global Market Report 2020? is one of a series of new reports from The Business Research Company that provides hand cream and hand lotion market overviews, analyzes and forecasts market size and growth for the global hand cream and hand lotion market, hand cream and hand lotion market share, hand cream and hand lotion market players, hand cream and hand lotion market segments and geographies, hand cream and hand lotion market’s leading competitors’ revenues, profiles and market shares. The hand cream and hand lotion market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.