COVID19 Impact on Hand Wash Market Size and Growth Forecast till 2026 | Top Players: Godrej Group, Unilever, Amway Corporation, Avon Product, 3M, Henkel, Procter & Gamble, etc
The global hand wash market 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.
COVID-19 Impact Analysis:
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. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Fortune Business Insights™ presents a list of all the hand wash manufacturers operating in the market. They are as follows:
• Godrej Group (India)
• Unilever PLC (UK)
• Amway Corporation (US)
• Avon Product, Inc. (UK)
• 3M (US)
• S. C. Johnson & Son, Inc. (US)
• Henkel AG & Co. KGaA (Germany)
• The Procter & Gamble Company (US)
• Reckitt Benckiser Group PLC (UK)
• Vi-Jon, Inc. (US)
Drivers & Restraints-
Rising Number of Hospitals & Clinics to Skyrocket Demand
There is a rise in the adoption of a health-conscious approach towards life across the globe backed by the surge in the global economy. It has further resulted in higher standards of living and changing lifestyles of the masses. This is a vital factor that has accelerated the demand for personal care products. At present, almost every country is under lockdown owing to the spread of the coronavirus infection. Hence, people are gradually shifting towards stretching and yoga activities to keep themselves fit and active. Apart from that, the large number of clinics and hospitals worldwide would augment the hand wash market growth in the near future as these medical institutions extensively use such personal care products to provide a germ-free environment and maintain sanitation. However, the raw materials used in the production of hand wash are expensive. It may hamper growth.
Ordinary Hand Wash Segment to Lead Owing to Their High Demand Worldwide
Based on product, the market is bifurcated into waterless hand wash and ordinary hand wash. 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 their ability to aid in drying the palms quickly. They are either spray- or foam-based products.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/hand-wash-market-102846
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 the 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 Covid-19 pandemic.
Key Players Aim to Introduce Novel Products to Gain a Competitive Edge
The market is highly competitive with the presence of a large number of big, medium, and small manufacturers. They are presently engaging in the strategy of unique product launches to broaden their product portfolio and to cater to the unmet needs of the masses. Below are two of the key industry developments:
June 2019: Reckitt Benckiser, a multinational consumer goods company headquartered in England, introduced its new range of hand washes and bathing soaps. These products were launched under the company’s one of the most prominent brands, Dettol. The new range is named ‘Dettol co-created with moms’ and they are chemical-free.
September 2019: Fiama Di Wills, an Indian personal care brand, recently expanded its product offerings by unveiling Fiama hand washes. These products are developed with the help of mood fragrance technology. It not only makes the hand washes softer but also boosts the category to a unique experiential zone.
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This release was published on openPR.
Originally Published on : https://www.openpr.com/news/2127601/covid19-impact-on-hand-wash-market-size-and-growth-forecast-till
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