Categories: Chemicals

Hand Wash Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Hand Wash Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hand Wash Global Market Report 2024, The hand wash market size has grown strongly in recent years. It will grow from $13.31 billion in 2023 to $14.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to increasing awareness of hygiene, rise in health and wellness consciousness, urbanization and changing lifestyles, promotion of hand hygiene by health authorities, economic development and increased disposable income.

The hand wash market size is expected to see rapid growth in the next few years. It will grow to $22.97 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to continued emphasis on hand hygiene, growing concerns about antimicrobial resistance, preference for natural and eco-friendly formulation, health crisis preparedness and response, customization and personalization trends. Major trends in the forecast period include technological advances in hand hygiene solutions, rise in demand for antibacterial and antimicrobial formulations, growing popularity of natural and organic ingredients, innovation in packaging formats, expansion of specialty and niche segments.

The rising incidence of infectious diseases is expected to propel the growth of the hand wash market going forward. Hygiene consciousness and personnel care refer to the removal of microbes for the prevention of infectious diseases. To prevent bacterial contamination and the spread of germs and viruses, frequent hand washing is necessary, particularly in public places. The communities, commercial units, and residential customers are increasingly investing in hygiene products including hand wash to protect themselves and communities from contagious infectious diseases. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based national public health agency, as of November 2, 2022, the current 7-day average of weekly new cases (39,016) had increased 4.7% over the previous 7-day average. Further, there had been 97,604,763 COVID-19 cases reported in the United States. Furthermore, there are 78 (2.0%) counties, districts, or territories with a high COVID-19 Community Level, 614 (20.1%) counties with a medium Community Level, and 2,525 (77.5%) counties with a low Community Level. Therefore, the rising incidence of infectious diseases is expected to boost demand for hand washes during the forecast period.

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The hand wash market covered in this report is segmented –

1) By Product Type: Ordinary, Waterless

2) By Sales Channel: Hypermarket/Supermarket, Pharmacies, Online channels, Other Sale Channel

3) By End-User: Residential, Commercial, Industrial

Major companies operating in the hand wash market are focusing on the development of technologically advanced products, such as hand hygiene technology, designed to eliminate human error and deliver the most effective hand wash possible. Hand hygiene technology encompasses automated, touch-free systems and innovative solutions designed to promote effective and convenient handwashing, reduce the spread of germs, and enhance overall hygiene practices. For instance, in January 2023, Meritech Systems LLC, a US-based company that manufactures and distributes automated handwashing systems, launched CleanTech EVO. This launch revolutionizes hand hygiene with automated handwashing in just 12 seconds, 100% touch-free operation, a smart display, and intuitive sensors. This innovative solution enhances hand hygiene compliance, making it a pivotal advancement in the hand wash market by combining efficiency, user-friendliness, and sustainability initiatives.

The hand wash market report table of contents includes: