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The Global Liquid Handwash Market was Valued at US$ 18.23 Bn in 2019 and it is Expected to Reach More than US$ 60.23 Bn by 2028, Likely to Grow with the CAGR of 13.9 % During the Forecast Period.
Liquid Handwash is most widely and best-selling products in detergent group, formulated to wash and clean hands. The global liquid handwash market is anticipated to witness phenomenal growth during the forecast period. Some of the factors fuelling the growth of global market include advantages associated with these products, rising awareness regarding hygiene and health, and product innovations.
Rising Awareness Regarding Advantages of Liquid Hand Wash over Bar Soaps is anticipated to propel the Market Growth
Liquid handwash offers several advantages over traditional soap bars which is making it preferable around the globe. Liquid handwash minimize the risk of virus exchange between users and convenient to use. Also, these products contain lower ph level if compared with bar soaps which makes it suitable for sensitive skin. Liquid hand wash retains more than 30% of skin moisture. These all benefits offered by liquid hand wash is anticipated to fuel the market growth.
Furthermore, rising number of patients suffering from infectious diseases is expected to create growth opportunities for the global market. Some of the public entities are engaged in promotional activities to spread awareness regarding hand hygiene owing to outbreak of Covid-19 at a global level. Though, using liquid handwash is not a cure, WHO recommends this as a major precaution as it kills more than 90 % of germs which minimizes the risk of these diseases.
Based on Product Type, the Conventional segment led the global market by occupying maximum share in 2019
On the basis of product type, the conventional segment is anticipated to occupy highest share over the forecast period. The conventional products are available in several fragrances including grassy, vanilla, delicate, melon, subtle, peach, mild, apricot, fruity, honey, floral, chocolate, herby, and citrus. Also, production of these products is comparatively cost effective. Moreover, introduction of handcrafted and homemade handwashes are expected to create growth opportunities for the segment growth.
Furthermore, organic products are expected to witness rapid growth during the forecast period. Rising awareness regarding harmful effects of chemicals such as sulphates and parabens is expected to surge demand for organic products in coming years. Moreover, rising occurrences of skin related issues is encouraging consumers to spend on organic products.
Based on Application, the Household segment is anticipated to Occupy Significant Share over the Forecast Period
Based on application, the household segment led the global liquid handwash market, accounted for highest market share in 2018. These products have registered huge adoption in urban areas as compared to rural areas. Moreover, supportive government campaigns in China and India is expected to fuel the segment growth. For instance, initiatives such as Total Sanitization and Swachh Bharat Mission have encouraged the consumers to spend in hygiene products.
Furthermore, Commercial segment is anticipated to grow at a rapid pace during the assessment period. This is mainly due to significant rise in hospitality sector across the globe. In 2018, the hotel industry has registered 5% growth in U.S.
Hypermarket & Supermarket has Registered Prominent Share in 2019
On the basis of distribution channel, the hypermarket & supermarket has registered highest share in 2019. These channels provide a huge variety of products at one place which offer the facility to physically compare the products before purchasing.
Online channels are expected to show rapid growth in forthcoming years. Some of the prominent players sell their products at online platform by understanding market opportunity and trend. Also, the major online companies including Alibaba and Amazon offer products of different brands at a single platform which is anticipated to increase its popularity across the globe.
North America is anticipated to lead the Global Market during the Forecast Timespan
By geography, North America held highest share in 2019. The region is anticipated to occupy significant share throughout the forecast period. More than half of the U.S. population prefer liquid handwash over normal soap bars duet to added benefits. Moreover, rising hygiene concern over sharing the soap bars is expected to create growth opportunities for liquid handwash market in North America.
On the other hand, Asia Pacific is projected to witness rapid growth over the forecast period. Rising demand for hygiene products from commercial and residential sector in India and China is anticipated to favour regional growth.
Key players operating in global Liquid Handwash market include Pental Products, Reckitt Benckiser Group plc, NEW AVON LLC, Procter & Gamble, Bluemoon Bodycare, Unilever, Godrej Consumer Products, 3M, Kao Chemicals, GOJO Industries, Inc., and Lion Corporation.
Global Liquid Handwash Market by Product Type
Global Liquid Handwash Market by Application
Global Liquid Handwash Market by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Store
Global Liquid Handwash Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America