According to a new report Global Hand Wash Market, published by KBV research, The Global Hand wash Market size is expected to reach $11.9 billion by 2026, rising at a market growth of 7.1% CAGR during the forecast period.
Hypermarkets emerged as the largest distribution channel. These stores attract a large number of customers and are typically situated in the central part of the region. Consumers generally visit these stores on weekends and holidays with a view to full-service household shopping and also tend to purchase skincare and personal hygiene products. The E-commerce channel is expected to expand at the fastest CAGR due to the high level of convenience offered by this medium. The wide range of hand wash products with special prices and high discounts is a key factor in boosting the growth of the segment.
The commercial segment recorded a dominant market share. Growing numbers of hospitals, fitness centers, and restaurants are the key drivers of the growth of the market. The residential segment is expected to rise at the highest growth over the forecast period. Eating food with contaminated hands is likely to result in stomach illnesses and increase the likelihood of contracting diseases such as salmonella, e-coli, and diarrhea.
The Asia Pacific accounted for the largest share in the regional segment of the market. Increased cases of diseases, such as influenza, are one of the main factors driving market growth in the region. The Europe market is witnessing a CAGR of 6.7% during (2020 - 2026). Additionally, The North America market is poised to grow at a CAGR of 5.7% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/hand-wash-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson & Johnson, Unilever PLC, The Procter and Gamble Company, S.C. Johnson and Son, Inc. (The Caldrea Company), Beiersdorf AG, Reckitt Benckiser Group PLC, 3M Company, Henkel AG & Company, KGaA, Alticor Inc. (Amway Corporation), and Lion Corporation.
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