Global Hair Removal Products Market size was valued at US$ 4100 Mn in 2019 and the total revenue is expected to grow at 4.9% through 2020 to 2026, reaching nearly US$ 4940 Mn in the forecast period.
The global Hair Removal Products Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Hair Removal Products Market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Hair Removal Products Market Overview:
Depilatory cream is a cosmetic preparation used to remove unwanted hair growth on the body. Depilatory cream contains an alkaline chemical that is safely reacting with the body to remove hair. The mechanism of the cream is that they work by breaking down the keratin protein in hair and weakens them by dissolving.
Global Hair Removal Products Market Dynamics:
The global hair Removal Products market was valued at USD 4100 million in the year 2019 and is estimated to reach 4940 million by 2026, with a growing CAGR of 4.9% in the forecast period 2020-2026.
The swelling trend from hair removal and beauty products is driving the market growth of hair removal products. The consciousness together with personal grooming and surging aesthetic appeal are fueling the market growth in the forecast period 2020-2026.
Increasing disposable income of the individual, and spending health hygiene together with personal care products are funding a major contribution to the growth of the market. Moreover, rising technology with advanced hair removal electronic machines like lesser hair removal, tremor, intense pulse light (IPL), Energy-based devices are hitting the market due to convenience and easy & quick hair removal.
The rising cost of raw materials are anticipated to obstruct the growth of the market. As the dispensing of raw materials from one place to another, shipping charges, labor cost, the tariff on import and export, and these factors overall induce the cost of final good also this factor is creating a negative impact on the hair removal market.
Global Hair Removal Products Market Segment Analysis:
The cream is dominating the Product Type segment of the Global Hair Removal Products Market:
Hair removal cream is gaining more attention in the market due to its convenience and easy application also has a quick mode of action. The market share of the cream segment accounted for 39.23% in 2019. Likewise, creams come with additional benefits like moisturizing the skin after hair removal, pleasant fragrance, and lives skin silky and smooth and these benefits are likely to fuel the market growth in the forecast period.
Waxing is second dominating in the global hair removal product market and is growing with a CAGR of 12.6%. This process is widely preferred by women, and women account for 56.4% of the market share in the forecast period as compared to men in the hair removal product market. Further, the low cost of the waxing process is likely to motivate the application.
Global Hair Removal Products Market
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Beauty Clinic sub-segment is trending in the Distribution Channel segment of the Global Hair Removal Products Market.
The beauty clinic sub-segment accounted for the largest market share in the forecast period. The global beauty clinic and spas market was valued at USD 144760 million in 2019 and is estimated to reach USD 217500 million at a CAGR of 6.2% in the forecast period. As beauty clinics and saloons are at easy access and are affordable, with professional service, and tools these elements drive the market growth. Further, high awareness about saloons and their services for skin and hair treatment is auxiliary boosting the market growth of hair removal products. Dermatology clinic is second dominating in the distribution channel segment of the hair removal product market. These clinics are expensive as compared to beauty salons and the services are available on appointments only. This process is conducted by highly professional and skilled persons. And this process is carried out under the supervision of a dermatologist.
Global Hair Removal Products Market
Global Hair Removal Products Market Regional Insights:
North America is dominating in the hair removal product market with a market share of 29.7% in 2019 as the region is highly attracted towards the aesthetic and grooming personalities of the individual. Moreover, due to high disposable income and purchasing power consumers tend to invest more in personal hygiene and beauty products, and the growing demand for electronic devices in the region together with the rapid advancement and huge investments by the market players is further motivating the market growth. Moreover, lesser treatment and application of cosmetic products is higher as compared to any other region in North America.
The Asia Pacific is marked as the fastest-growing region with a CAGR of 6.8% in the forecast period due to growing modernization and a growing young population. Moreover improved living standards are further boosting the market growth of hair removal products in the region. China is the fastest-growing company in the Asia Pacific and is likely to reach USD 374.3 Million with a CAGR of 11.5% in the forecast period and Japan is likely to grow at 4.3% in the forecast period.
Key Industrial Development
• Vi-john- Vi-john Company declared India’s first men hair removal cream- MasterStrock for Men. This product is particularly design for thick skin and rough and harsh hair growth. This product is dermatologically verified and tested to offer safe hair removal for men.
Global Hair Removal Products MarketThe objective of the report is to present a comprehensive analysis of the global Hair Removal Products Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Hair Removal Products Market dynamics, structure by analyzing the market segments and project the global Hair Removal Products Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the global Hair Removal Products Market make the report investor’s guide.
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Global Hair Removal Products Market Scope: Inquire before buying
Global Hair Removal Products Market
Global Hair Removal Products Market, by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Global Hair Removal Products Market Key Player
• Reckitt Benckiser
• Church & Dwight
• Procter & Gamble
• Philips
• Emjoi
• Sally Hansen
• VI-John
• Nads
• Revitol
• Codream
• Beiersdorf AG
• Procter & Gamble
• GiGi
• Oriflame Holding AG
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