Hand Soap Market Scope
Consumer inclination toward health and wellness have increased with a rise in diseases. Hand soap plays a vital role in removing dirt, organic material, and microorganism. Hand soap is a substance used to kill the germs and prevent infections which can get into the body through eyes, nose, and mouth. Improvement in standard of living, the rise in health expenditure and the increase in health awareness have increased the usage of hand soap. The center for disease control and prevention, a federal agency in the U.S. have conducted health promotion, prevention, and preparedness for improving the overall health of the consumer. The support from WHO, FDA towards the need for sanitation have constantly increased the demand for hand soap.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Reckitt Benckiser (United Kingdom), P&G (United States), Unilever (United Kingdom), Renown Health (United States), Kutol Products Company, Inc. (United States), EO Products (United States), S. C. Johnson & Son (United States), Williams- Sonoma (United States), Amway (United States), 3M (United States), Lion Corporation (Japan), Medline (United States), Vi-Jon (United States) and Henkel (Germany) |
CAGR | % |
Hand Soap is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs and preferences of consumers. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Hand Soap market throughout the predicted period.
Reckitt Benckiser (United Kingdom), P&G (United States), Unilever (United Kingdom), Renown Health (United States), Kutol Products Company, Inc. (United States), EO Products (United States), S. C. Johnson & Son (United States), Williams- Sonoma (United States), Amway (United States), 3M (United States), Lion Corporation (Japan), Medline (United States), Vi-Jon (United States) and Henkel (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Chattem (United States), GOJO Industries (United States) and Kao (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hand Soap market by Type , by Application (Medical, Daily and Others) and Region with country level break-up.
On the basis of geography, the market of Hand Soap has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In April 2021, Bain Capital, has acquired a majority stake in personal care brand Hand in Hand through Bain Capital Double Impact, its fund for purpose-driven businesses.
In July 2023, The brand's latest innovation and launch in the hand soap category meets consumer demand for a formula made without parabens, sulfates and dyes in packaging that supports the brands recently announced ESG commitments and spans all hand soaps in the assortment.
FDA has undertaken the active ingredients used in a variety of over the counter antiseptic rubs and wash products. FDA ensures the safety and effectiveness of health care as these products are an important component of infection control strategies in the healthcare setting. In September 2016, FDA banned 19 ingredients from antibacterial soap and washes including two suspected endocrine disruptors linked to reproductive and developmental harm.
Influencing Trend:
Innovation R&D for Raw Material and Attracting Packaging Material
Market Growth Drivers:
Cleans Hand with Instant Use killing Bacteria, Fungi and Viruses and Rising Awareness About Hand Hygiene
Restraints:
Tax & Regulatory Structure and Health Hazardous Associated with Hand Soap As it Contains Chemical Ingredients
Opportunities:
Potential Growth from Emerging Countries
Key Target Audience
Hand Soap Manufacturer, Raw material supplier, Association & government bodies, Research laboratories, Research companies and Others