New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hand Cream and Hand Lotion Global Market Report 2023" - https://www.reportlinker.com/p06241878/?utm_source=GNW
Major players in the hand cream and hand lotion market are Unilever, Johnson & Johnson, Procter & Gamble, Coty, Beiersdorf, LYNX, Whealthfields Lohmann, Jahwa, and Suave?.
The global hand cream and hand lotion market is expected to grow from $5.73 billion in 2021 to $6.43 billion in 2022 at a compound annual growth rate (CAGR) of 12.31.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The hand cream and hand lotion market is expected to reach $9.33 billion in 2026 at a CAGR of 9.8%.
The hand cream and hand lotion market consists of sales of emollients, humectants, and occlusive moisturizers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hand cream and hand lotion refers to a low viscosity substance that is employed or rubbed onto hands to hydrate the skin and soften the body and hands of those who work hard all day. Repairing and preventing dry, cracked hands is done with it.
The main types of hand cream and hand lotion are moisturizing hand lotion, protective hand lotion, repair hand crème, and others.Hand lotion with moisturizing properties is a liquid that users apply to their hands to make them feel smoother and softer.
The different applications include adult, and baby, and are distributed through various channels such as supermarkets or hypermarkets, specialty stores, beauty salons, pharma, drug store, and online stores.
The increasing habit of frequent hand washing to avoid infections is a key factor driving the growth of the hand cream and hand lotion market.Washing hands regularly and thoroughly is one of the best ways to reduce COVID-19 transmission, as hands are responsible for bringing most bacteria into our respiratory system.
Although hand washing and the use of harsh sanitizers are both essential to reduce the spread of the virus, they can hurt the skin, causing the hands to feel dry, cracked, and sore.Therefore, doctors recommend using hand creams that help maintain the hands nourished, soothe any dry areas and minimize irritation of the skin.
Therefore, the drying of hands owing to frequent hand-wash is expected to drive the growth of the hand cream and hand lotion market.
The presence of counterfeit products is a key factor hampering the growth of the hand cream and hand lotion market.Since many users are unaware that the product, they are using is a counterfeit, the user will blame the authentic company if the take-off item stops working properly, it quickly falls apart, or it doesn’t meet their expectations.
Retailers, distributors, and other organizations that work with companies frequently lose trust in reputable companies because of counterfeiters’ actions. More than $31.76 billion was lost annually by counterfeit goods throughout the fashion industry alone each year, and this issue extends to a multitude of industries. Therefore, the presence of counterfeit products is expected to hinder the growth of 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 are a key trend in the hand cream and hand lotion market.For instance, the aloe-based hand repair creams made with 60% aloe gel provide 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. The subtle scent that these natural ingredients leave behind also attracts the use of this cream more frequently.
In November 2021, Edgewell Personal Care Company, a US-based consumer products manufacturing company specializing in the manufacturing and sales of personal care products, acquired Billie, Inc. for an amount of $3100 million. Through this acquisition, Edgewell increases its organization’s consumer-focused digital capabilities and strengthens its position in the important mid-tier women’s shaving market in theU.S.,. andincreases its razors, shaving cream, make up wipes, body lotion, lip balms, dryshampoo,o and body wash product portfolio. so It also increases Billie’s capacity to take advantage of significant growth opportunities by utilizing our retail distribution platform and marketing channels. Billie Inc. is a US-based consumer brand company pioneering in supplies and body products.
The regions covered in the hand cream and hand lotion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the hand cream and hand lotion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The hand cream and hand lotion market research report is one of a series of new reports that provides hand cream and hand lotion market statistics, including hand cream and hand lotion industry global market size, regional shares, competitors with hand cream and hand lotion market share, detailed hand cream and hand lotion market segments, market trends and opportunities, and any further data you may need to thrive in the hand cream and hand lotion industry. This hand cream and hand lotion market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06241878/?utm_source=GNW
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