Hand Cream and Hand Lotion Global Market Report 2024

The hand cream and hand lotion market size has grown strongly in recent years. It will grow from $7.8 billion in 2023 to $8.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth observed in the historic period can be credited to increased awareness regarding skin health, shifts in consumer preferences, seasonal variations in demand, evolving fashion and beauty trends, endorsements and recommendations from healthcare professionals, as well as effective marketing and branding strategies employed within the industry.

The hand cream and hand lotion market size is expected to see rapid growth in the next few years. It will grow to $13.3 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. Forecasted growth is attributed to ingredient transparency, sustainability, customization, natural beauty, hygiene awareness, and innovative packaging. Anticipated trends include CBD and botanical extracts, new application methods, multifunctional products, diverse fragrances, and targeted solutions.

The surge in the practice of frequent hand washing as a preventive measure against infections emerges as a pivotal driver for the hand cream and hand lotion market. The emphasis on regular and thorough hand washing, particularly to mitigate the transmission of COVID-19, acknowledges the role of hands as primary carriers of bacteria into the respiratory system. Despite the importance of hand hygiene, the use of harsh sanitizers and extensive hand washing can lead to dryness, cracks, and soreness. Consequently, medical professionals advocate the use of hand creams to nourish the hands, alleviate dryness, and minimize skin irritation. The increasing prevalence of dry hands due to frequent washing is anticipated to fuel the expansion of the hand cream and hand lotion market.

A heightened focus on personal care and well-being is poised to propel the hand cream and hand lotion market. Personal care and well-being practices encompass behaviors that contribute to physical, mental, and emotional health, emphasizing overall self-care. Hand creams and lotions play a crucial role by providing essential hydration to the skin, promoting overall hand health and comfort. Notably, a survey conducted by Citron Hygiene, a Canada-based washroom hygiene services provider, in September 2022 revealed significant shifts in hygiene habits during the pandemic. Prior to the pandemic, only 11% of individuals adhered to the recommended 18–20 seconds of handwashing, a figure that rose to 25% amid the pandemic. Moreover, the awareness of proper hand hygiene increased, with only 15% continuing to sneeze into their hands without subsequent washing, compared to the pre-pandemic figure of 30%. This growing consciousness of personal care and hygiene is a driving force behind the expanding hand cream and hand lotion market.

The proliferation of counterfeit products stands out as a significant impediment to the growth of the hand cream and hand lotion market. The challenge arises from the fact that many users may be unaware that the product they are using is counterfeit, leading to a situation where the authentic company is wrongly held responsible for issues such as product malfunction, rapid deterioration, or unmet expectations. This misattribution of problems to reputable companies erodes trust among retailers, distributors, and other entities collaborating with these companies. Counterfeiting is a pervasive issue across various industries, with the fashion sector alone losing more than $31.76 billion annually to counterfeit goods. This widespread problem extends its negative impact to the hand cream and hand lotion market, hindering its growth prospects.

A prominent trend in the hand cream and hand lotion market revolves around products incorporating healthy ingredients such as herbs and essential oils, promoting skin healing and regeneration. Notably, aloe-based hand repair creams, formulated with 60% aloe gel, exemplify this trend by delivering deep moisture to the skin for a soothing and softening effect on hands. Beyond addressing dry and damaged skin, these creams can be applied to specific dry areas such as knees and elbows. The incorporation of natural ingredients also introduces a subtle scent, enhancing the appeal of these creams and encouraging more frequent usage.

Prominent players in the hand cream and hand lotion markets are strategically focusing on the development of age-defying lotions to secure a competitive advantage. These age-defying hand lotions represent skincare products specifically formulated to address signs of aging on the hands, such as wrinkles and age spots. The primary mechanisms involve moisturization and the incorporation of additional ingredients, such as antioxidants, known for their anti-aging properties. A case in point is the August 2021 launch by Bota Hemp, a leading US-based cosmetic company, introducing an age-defying natural plant-based CBD hand lotion. This innovative product features a blend of pure hemp, natural emollients, and essential fatty acids, aiming to soothe and hydrate dry skin. Notably, the formulation includes Full Spectrum CBD, an extensive plant extract encompassing over 100 compounds derived from the Cannabis sativa plant. Among these compounds are CBD, THC, naturally occurring terpenes, essential vitamins, fatty acids, and proteins, collectively contributing to the age-defying properties of the hand lotion.

In November 2021, Edgewell Personal Care Company, a U.S.-based consumer products manufacturing company, acquired Billie, Inc. for $310 million. This strategic acquisition is aimed at enhancing Edgewell's consumer-focused digital capabilities and solidifying its presence in the crucial mid-tier women's shaving market in the United States. The deal also expands Edgewell's product portfolios, including razors, shaving cream, makeup wipes, body lotion, lip balms, dry shampoo, and body wash. Additionally, it provides Billie with increased opportunities for growth by leveraging Edgewell's retail distribution platform and marketing channels. Billie Inc., the acquired company, is a U.S.-based consumer brand known for its innovative offerings in shaving supplies and body products.

Major companies operating in the hand cream and hand lotion market report are Johnson & Johnson, Procter & Gamble Company, Unilever PLC, L'Oréal SA, Henkel AG & Co. KGaA., Colgate-Palmolive Company., Estée Lauder Companies Inc., Kao Corporation, Beiersdorf Ag, Amway Corporation, Shiseido Company Limited, Natura & Co Holding SA, LG Household & Health Care Ltd., Coty Inc., Neutrogena Corporation, Galderma SA, Amorepacific Corporation, Avon Products Inc., Mary Kay Inc., Yves Rocher International, Revlon Inc., Jahwa Group Co. Ltd., Oriflame Holding AG, Whealthfields Lohmann GmbH & Co. KG, Body Shop International Limited, Weleda AG, LYNX International Ltd., Burt's Bees Inc., Clarins Group, Jurlique International Pty Ltd., Crabtree & Evelyn Ltd., Aveeno, O'Keeffe's Company. North America was the largest region in the hand cream and hand lotion market in 2023. 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, Africa.

Primary types include moisturizing hand lotion, protective hand lotion, repair hand cream, and other variants. Moisturizing hand lotion is a liquid formulation that enhances hand smoothness and softness upon application. These lotions cater to both adult and baby use cases and are distributed through various channels, including supermarkets, specialty stores, beauty salons, pharmacies, drug stores, and online retail platforms.

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 delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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, Canada, Italy, Spain.

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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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