Global Hand Cream Market Size, Share & Trends Analysis Report By End Use (Women, and Men), By Product, By Distribution Channel, By Regional Outlook and Forecast, 2024 - 2031

Global Hand Cream Market Size, Share & Trends Analysis Report By End Use (Women, and Men), By Product, By Distribution Channel, By Regional Outlook and Forecast, 2024 - 2031

The Global Hand Cream Market size is expected to reach $4.2 billion by 2031, rising at a market growth of 12.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 213,731.1 thousand units, experiencing a growth of 12.8% (2020-2023).

These retail outlets are popular with consumers due to their variety of products, convenience, and accessibility. Hypermarkets and supermarkets offer a diverse range of hand cream brands, allowing consumers to compare options and choose products that meet their skincare needs. The high foot traffic in these stores, coupled with competitive pricing and frequent promotions, has contributed to the dominance of this segment. The hypermarkets & supermarkets segment recorded 35% revenue share in the hand cream market in 2023. In terms of volume, 152,328.6 thousand units of hand creams are expected to be utilized by the year 2031.

Increasing consumer awareness about skincare benefits significantly drives the hand cream market. As people become more educated about maintaining healthy skin, they are more inclined to invest in hand creams to prevent dryness, aging, and other skin issues. Additionally, the rise in disposable income levels globally has significantly impacted the hand cream market, enabling consumers to spend more on premium, high-quality products. With greater financial flexibility, consumers are not just looking for basic moisturizing creams.

However, the hand cream market faces significant challenges due to the volatility of raw material prices, which can substantially increase production costs. Ingredients such as essential oils, natural extracts, and other active components used in hand creams are often subject to price fluctuations driven by supply chain disruptions, climatic conditions affecting crop yields, and geopolitical tensions. In conclusion, volatile raw material prices and increased production costs hamper the market's growth.

Product Outlook

Based on product, the market is divided into moisturizing hand creams, anti-aging hand creams, repairing hand creams, whitening & brightening hand creams, and others. In 2023, the moisturizing hand creams segment garnered 39% revenue share in the market. In terms of volume, 207,922.6 thousand units of moisturizing hand creams are expected to be utilized by 2031. These products are widely popular due to their ability to hydrate and provide long-lasting moisture, essential for individuals who experience dry or cracked skin.

Distribution Channel Outlook

On the basis of distribution channel, the market is segmented into hypermarkets & supermarkets, pharmacies & drugstores, specialty beauty stores, e-commerce, and others. The e-commerce segment held 19% revenue share in the market in 2023. In terms of volume, 92,292.4 thousand units of hand creams are expected to be utilized by the year 2031. E-commerce platforms provide the convenience of shopping from home, allowing consumers to browse a wide range of hand creams without the need to visit physical stores.

End Use Outlook

By end use, the market is divided into women and men. The men segment procured 27% revenue share in the market in 2023. In terms of volume, 130,959.3 thousand units of hand creams are expected to be utilized by the year 2031. This segment has seen growth due to rising awareness of the importance of skincare among men and the development of products tailored specifically to their needs.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 24% revenue share in the market in 2023. In terms of volume, the North America region is expected to be utilized 42,897.6 thousand units of hand cream by 2031. This can be attributed to several factors, including the high consumer spending on personal care products, a well-established skincare market, and a strong preference for premium and specialized skincare brands.

List of Key Companies Profiled

• L'Oréal S.A.
• Pacifica Beauty LLC
• Unilever PLC
• Kao Corporation
• NAOS
• The Estee Lauder Companies, Inc.
• Johnson & Johnson
• Pierre Fabre S.A
• Amway Corporation
• Coty, Inc.

Global Hand Cream Market Report Segmentation

By End Use (Volume, Thousand Units, USD Billion, 2020-2031)

• Women
• Men

By Product (Volume, Thousand Units, USD Billion, 2020-2031)

• Moisturizing Hand Creams
• Anti-Aging Hand Creams
• Repairing Hand Creams
• Whitening/Brightening Hand Creams
• Other Products

By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)

• Hypermarkets & Supermarkets
• Pharmacies & Drugstores
• Specialty Beauty Stores
• E-commerce
• Other Distribution Channels

By Geography (Volume, Thousand Units, USD Billion, 2020-2031)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA