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Hand Wash Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hand wash products market was valued at USD 8.4 billion in 2021 and is expected to witness a CAGR of 6.5% from 2022 to 2030. The growing awareness regarding personal hygiene and safety amid the COVID-19 pandemic has led to an increase in the demand for hand wash products. The importance of maintaining personal hygiene is increasingly being realized and is gaining traction across the world. The government of numerous countries has been emphasizing on the importance of handwashing to curb the spread of COVID-19. For instance, in 2020, the World Health Organization (WHO) launched the “Save Lives: Clean Your Hands” campaign to raise awareness about the importance of hand hygiene in preventing the spread of COVID-19.
Moreover, the rising demand for liquid hand wash is expected to drive the market growth over the forecast period. The increasing demand for liquid hand wash is due to its convenient use compared to the traditional bar soaps. Liquid hand wash is more hygienic, economical, and easier to use than bar soaps, harnessing its popularity among consumers. Furthermore, the growing demand for natural and organic ingredients-based liquid hand wash is expected to bolster the segment’s growth. Manufacturers are developing products with natural ingredients that are free from harsh chemicals and provide deep cleansing.
On the other hand, the increasing demand for hand sanitizer due to the pandemic is expected to boost the market growth. Hand sanitizer has become an essential product for people to stay safe from the virus, and its demand has surged drastically in the last few years. The sale of hand sanitizers has increased by more than 300% in many countries since the pandemic. Moreover, manufacturers are introducing hand sanitizers in various forms, such as gels, sprays, and foams, to attract more customers. For instance, in 2021, Unilever launched Axiom’s new hand sanitizer range, which includes sprays and gels.
Furthermore, the increasing number of promotional activities and campaigns by market players to raise awareness about the importance of hand hygiene is also driving the market growth. For instance, in 2021, Reckitt Benckiser Group launched a campaign titled “#WashYourHands” to promote the importance of hand hygiene in preventing the spread of COVID-19. Additionally, the growing demand for convenient packaging, such as pumps and flip-top caps, is expected to propel the market growth. Manufacturers are focusing on providing convenient packaging to make it easier for consumers to use their products. For instance, in 2021, Godrej Consumer Products launched a liquid hand wash with a patented flip-top cap.
Product Insights
The liquid hand wash segment held a significant share of the market in 2019 and is anticipated to hold a prominent share over the forecast period. According to an article published by the University of Michigan, in January 2020, liquid hand washes are more effective against germs than bar soaps. The liquid hand wash segment is projected to expand at the fastest growth rate over the forecast period, owing to the increasing awareness among consumers regarding the benefits of using these products.
The foam hand wash segment is anticipated to witness a steady growth rate over the forecast period, owing to its cost effectiveness and convenience. Furthermore, the development of organic foaming hand wash products is expected to drive the growth of the segment. According to an article published by the University of Georgia, in November 2019, foam hand washes are more effective than bar soaps in removing germs. In addition, the increasing demand for organic foam hand wash products is expected to drive the growth of the segment.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 35.0% in 2022. Supermarkets and hypermarkets are the most preferred retail outlets for consumers to purchase hand wash products. The convenience provided by the stores in terms of product availability and variety, discounts and offers, and the ability to touch and feel the product, have resulted in higher sales through these outlets. In addition, the presence of a large variety of hand wash products from different brands aids in the growth of this segment.
The online segment is anticipated to expand at the highest CAGR of 13.6% over the forecast period. The rising penetration of internet and increasing number of e-commerce websites have made it easier for consumers to purchase hand wash products online. Consumers are attracted by the convenience of online shopping, discounts, and attractive offers. The availability of a wide range of hand wash products on online portals has also resulted in an increase in the sales of these products through the online channel.
Type Insights
The liquid segment accounted for the largest revenue share of 73.3% in the year 2022. The increasing focus on hygiene, especially in the wake of the COVID-19 pandemic, is the primary factor driving the demand for liquid handwashes. Moreover, the availability of a wide range of liquid handwashes in various fragrances, colors, and sizes is likely to propel the market in the forecast period. Furthermore, the changing lifestyle of people with increased hygiene consciousness is anticipated to drive the market for liquid handwashes.
The bar segment is expected to expand at the fastest CAGR of 8.3% over the forecast period. The increasing usage of bar handwashes in households is a key factor driving the market. The bar handwashes are economical and widely available in the market in various fragrances, shapes, and sizes. Furthermore, the introduction of herbal and natural bars is expected to create opportunities in the market over the forecast period. For instance, in 2020, Himalaya launched a range of handwash bars, including Neem and Turmeric, Rose, and Glycerin, and Lemon.
Regional Insights
North America is anticipated to be the largest market for hand wash products over the forecast period. Growing consumer awareness regarding hygiene and health coupled with the presence of prominent players in the region has provided impetus to the growth of this market. Hand wash products are widely used in educational institutions and healthcare facilities in the region, which is further contributing to the growth of the market. For instance, in December 2020, GOJO Industries, Inc. launched its expanded line of hand hygiene products in the U.S.
Asia Pacific is expected to witness the fastest growth in the coming years. Growing demand on account of rising hygiene concerns among consumers, especially in countries such as India, China, and South Korea, is a key factor driving the growth of the hand wash products market in the region. For instance, in November 2020, Dabur India Ltd. launched its new range of hand wash products in the Indian market.
Financial Projections
In this part of the hand wash products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your hand wash products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a hand wash products business comes from product sales, retail, wholesale and online. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, food & beverage, the sale of merchandise, and leasing the place for parties and corporate events.
Projecting Expenses
In this section, all the regular expenses related to keeping the hand wash products business running will be described. The list of operating expenses includes raw materials, labour costs, packaging, shipping and distribution, advertising, promotion, R&D expenses, taxes, and other.
Key companies & market share insights
Some of the key companies operating in the hand wash market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Procter & Gamble launched the new line of liquid hand soaps with natural ingredients.
– In August 2022, Unilever launched the hand wash range with natural ingredients such as aloe vera, lavender, and almond oil.
– In October 2022, Himalaya launched a range of herbal hand wash with natural ingredients such as neem, tulsi, and lemon.
Some of the prominent players in the hand wash market include:
– Unilever
– Procter & Gamble
– Reckitt Benckiser
– Henkel AG & Co. KGaA
– Kao Corporation
– Colgate-Palmolive Company
– The Himalaya Drug Company
– Godrej Consumer Products Limited
– The Clorox Company
– GOJO Industries Inc.
Global Hand Wash Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global hand wash products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Liquid Hand Wash
– Foam Hand Wash
– Bar Hand Wash
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Hand Wash Market?
[A]: Product innovation is expected to be a major factor driving the growth of the hand wash market. Manufacturers are focusing on introducing products with unique and innovative features, such as natural and organic ingredients, improved packaging, and enhanced fragrance to meet the changing consumer needs.
[Q]: Who are the Key Players in the Hand Wash Market?
[A]: Some of the key players in the hand wash market are Procter & Gamble, Unilever, GOJO Industries, Dabur India Ltd, Godrej Consumer Products Ltd, Reckitt Benckiser, Johnson & Johnson, and Henkel AG & Co. KGaA.
[Q]: What are the Factors Driving the Growth of the Hand Wash Market?
[A]: The demand for hand wash products is expected to increase due to the increasing awareness of hygiene, growing demand for natural and organic products, and increasing purchasing power of consumers.
[Q]: What are the Major Distribution Channels for Hand Wash Products?
[A]: The major distribution channels for hand wash products include supermarkets/hypermarkets, online stores, and convenience stores.
[Q]: Which Region Offers the Largest Opportunity for Sales of Hand Wash Products?
[A]: Asia Pacific is the largest market for hand wash and is expected to grow at a significant CAGR during the forecast period. The increased demand from countries such as China, India, and Japan is expected to drive the market in the region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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