Liquid Hand Wash Market Size to Reach Revenues of around USD 23 Billion by 2026 - Arizton
Key Highlights Offered in the Report:
1. North America was the largest market for liquid handwash in 2020, followed by Europe and APAC. Previously, the demand for liquid handwash was majorly concentrated in developed countries such as the US, Japan, the UK, Germany, and France. However, developing Asian countries such as India and China are witnessing increased adoption of liquid handwash owing to the growing awareness toward hand hygiene.
2. The landscape of the liquid handwash market has drastically changed after the outbreak of COVID-19. The average market demand across the globe witnessed a phenomenal rise of over 70% between 2019 and 2020.
3. Even though the supermarket and hypermarkets dominate the liquid handwash market in terms of distribution channel, rising shift towards digitalization, and increasing penetration of internet in emerging economies is expected to result in significant demand growth from online websites.
4. As liquid handwash is used on a daily basis, the residential sector is expected to keep dominating the market in the forecast period. Moreover, the rising disposable income of people and growing real estate industry is expected to further drive the market growth.
5. The demand for organic liquid handwash is expected to grow at a CAGR of over 9% in terms of revenue during the forecast period due to significant shift towards usage of natural and organic product in skin care and household items.
6. Even though liquid handwash is a daily use product and has significant penetration, there is still a huge proportion of the market which is still untapped, and which has significant growth potential.
Key Offerings:
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Liquid Hand Wash Market – Segmentation
Liquid Hand Wash Market by Feature
Liquid Hand Wash Market by Packaging
Liquid Hand Wash Market by End-user
Liquid Hand Wash Market by Distribution Channel
Liquid Hand Wash Market – Dynamics
The use of natural and organic ingredients in the personal care and hygiene segment has been increasing in recent years. Traditional values and goodness associated with these products and the absence of harmful chemicals are driving customers toward them. Consumers across the globe are becoming increasingly aware of the quality and origins of ingredients available in the market. Moreover, due to the abundant availability of information about the ingredients used, consumers are exercising maximum caution in their choices, looking for hygienic products derived from natural ingredients such as plants, flowers, fruits, and others. Consumers are seeking fundamental solutions from brands that are both safe for them as well as the environment. Products containing harmful chemicals with side-effects are being avoided.
Key Drivers and Trends fueling Market Growth:
Liquid Hand Wash Market – Geography
In 2020, North America dominated the liquid handwash market, accounting for over 38% share by revenue in the global market. High disposable incomes, strong awareness of self-care and hygiene, huge penetration of the commercial sector, and the culture of smaller and nuclear households are major elements leading to such great demand in the region. The deep penetration of the largest distribution channels such as supermarkets and hypermarkets and ready access to the internet and online shopping have also aided market growth. The US and Canada are major countries driving demand in North America and are expected to keep leading throughout the forecast period.
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Liquid Hand Wash Market by Geography
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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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