According to a new report, published by KBV research, 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).
The Anti-Aging Hand Creams segment is anticipating a CAGR of 12.4% during (2024 - 2031). Anti-aging hand creams are designed to combat fine lines, wrinkles, and loss of skin elasticity, offering benefits such as skin rejuvenation and protection from environmental stressors. These products often contain active ingredients like retinol, peptides, and antioxidants that help promote collagen production and improve skin texture. The anti-aging segment has gained traction as consumers become increasingly conscious of aging and seek products that can help maintain youthful skin.
The Women segment is leadings the Global Hand Cream Market by End Use in 2023; thereby, achieving a market value of $2.9 billion by 2031. This can be attributed to women's traditionally higher demand for skincare products, as they are more likely to invest in personal care routines and seek specialized products for various skin concerns. Women’s hand creams often come in various formulations that cater to different needs, such as moisturizing, anti-aging, and brightening, contributing to their popularity. Due to these factors, the women's segment continues to dominate, with a broad range of products available through various distribution channels, including specialty beauty stores, e-commerce, and hypermarkets.
The Specialty Beauty Stores segment shows a CAGR of 12.4% during (2024 - 2031). Specialty beauty stores provide a curated selection of premium and niche brands that may not be available in more general retail outlets. Consumers are increasingly drawn to these stores for their expert advice, personalized service, and the ability to find specialized hand cream formulations that cater to unique skin concerns. These stores often focus on high-end or organic products, offering hand creams with targeted benefits such as anti-aging, moisturizing, or whitening.
Full Report: https://www.kbvresearch.com/hand-cream-market/
The Asia Pacific region dominated the Global Hand Cream Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.8 billion by 2031. The Europe region is experiencing a CAGR of 11.8% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 12.4% during (2024 - 2031).
By End Use (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
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