Hair Removal Products Market Size, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Hair Removal Products Market


The global Hair Removal Products market size is projected to reach US$ 3.38 billion by 2026, from US$ 2.45 billion in 2020, at a CAGR of 5.5% during 2021-2026. Rising consciousness with respect to personal grooming and enhancing aesthetic appeal are some of the factors fueling the growth of the global market.

Moreover, rise in consumer disposable income and increased spending on personal care products are contributing to the demand for the global market. Convenient hair removal products such as electronic devices and ready-to-use wax strips have been gaining an increasing acceptance among consumers who look for easy and quick options. This, in turn, will accelerate the growth of the global hair removal products market.

Busy lifestyle and growing consumer demand for convenient grooming products have led the companies to introduce technically advanced epilators. These devices are equipped with sensors that give out alerts when the skin is pressed too hard to avoid bruises. The epilators market is witnessing a rise in sales due to increasing number of working women, thereby augmenting the growth of the global industry. Companies such as Philips, Braun, and Codream are some of the major manufacturers of epilators.

Growing acceptance of hair removal products among men is also one of the major factors driving the market. Recent trends show that a number of men are indulging in various grooming activities including hair removal. Moreover, growing popularity of metrosexual culture has been driving the companies to introduce products suitable for men. For instance, Emjoi offers Emagine Epilator especially for men. This device is equipped with 72 tweezers, along with shaving and trimming attachments, which makes it a multi-purpose equipment.

Market Segmentation, Outlook & Viewpoint: Global Hair Removal Products Market

 Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Creams
  
Ready-to-use Wax Strips
  
Electronic Devices
  
Razors

End User Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Men
  
Women

Distribution Channel Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Supermarkets & Hypermarkets
  
Drugstores
  
Convenience Stores
  
Online

Key Players, Recent Developments & Regional Insights: Global Hair Removal Products Market

Women accounted for the largest share of more than 55.0% in 2018. Need for quick hair removal solutions is high among working women in their fast paced life. Moreover, companies are focusing on introducing different variants of products considering the specific and sensitive nature of their skin. Introduction of ready-to-use wax strips are also driving up the market penetration among women as these products offer better results as compared to razors.
Application of hair removal products is also gaining significant popularity among men, which, in turn, is expected to drive the global market in the next few years. Growing trend of metro sexuality and desire to maintain personal hygiene and grooming habits are some of the factors expected to pull up the growth of the global market over the forecast period.

Distribution Channel Insights

Supermarkets and hypermarkets accounted for the largest revenue share of 42.3% in 2018.This segment is popular owing to its benefits such as scanning the product before purchase that influences their buying decision, availability of an in-store associate who helps them choose the right product, and instant buying of the product.
Moreover, availability of a wide range of products offered by different brands enables consumers to compare between each brand. The layout of this distribution channel and promotional campaigns by leading brands have also increased the sales volume in supermarkets and hypermarkets. Development in terms of organized retail sectors have been driving the hair removal products market by providing ample space and visibility for the existing and new brands to offer their products.

Online retail is expected to be the fastest growing distribution channel in the next few years. Rise in penetration of e-commerce and smart devices such as mobile phones and tablets, along with benefits like easy payment options and discounts, are the factors contributing to the growth of this segment. Moreover, increasing preference for online shopping is compelling the manufacturers to offer their products through various online channels such as Nykaa, bigbasket, and Amazon in order to cater to the vast consumer base.

Type Insights

Hair removal creams accounted for the largest share of 41.7% in 2018. The segment growth is attributed to consumer willingness to spend less and opt for cheap and effective solutions. Increased popularity of this product among the younger generation who look for easy and quick solutions has been driving the segment over the past few years. Moreover, factors such as strong endorsements by celebrities and availability of a wide range of creams for specific skin types have been fueling the growth of the segment. For instance, Veet by Reckitt Benckiser offers hair removal creams for normal, sensitive, and dry skin.

Electronic devices are expected to exhibit the fastest CAGR of 6.0% from 2019 to 2025. Technological advancements, along with growing need among consumers for hassle free hair removal products, are expected to spur up the sales of electronic devices such as epilators. Companies are also focusing on introducing separate hair removal devices for men and women, considering the nature of their skin. For instance, Braun Silk Epil 9, 7, and Philips Satinelle are some of the epilators specially designed for men. Epilators have been gaining an increasing traction owing to growing demand for quick fix grooming solutions, especially among working women. For instance, Emjoi Soft Caress Epilator equipped with 36 tweezers enables quick hair removal solution.

Regional Insights

North America held the largest share of 30.8% in 2018. Factors such as high spending on personal grooming, increasing penetration of electronic device, and increased concerns over hygiene among men and women are some of the factors that have been driving the market in the region.

Asia Pacific is expected to register the fastest CAGR of 6.3% over the forecast period. Changing living standards, increasing number of working women looking for quick hair removal solutions, emerging metrosexual culture, and increasing spending power of the consumers are expected to drive the regional market in the next few years.

Hair Removal Products Market Share Insights

Some of the key players operating in this market are Reckitt Benckiser, Church & Dwight, Procter & Gamble, Philips, Emjoi, Sally Hansen, VI-John, Nads, Revitol, and Codream. Companies involved in this industry majorly focus on product development and launches in order to sustain the high industry competition. For instance, Veet has introduced some of the new products such as hair removal creams for sensitive, normal, and dry skin. Moreover, Gillette had introduced Venus anti slip shaving razors with gel infused blades to prevent dryness post shaving.

Key Insights Covered: Global Hair Removal Products Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Hair Removal Products industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Hair Removal Products industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Hair Removal Products industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Hair Removal Products industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Hair Removal Products industry.

Research Methodology: Global Hair Removal Products Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other