Hair Remover Market to Gather Momentum; Increasing Demand for Smooth and Clean Skin to Bolster Growth Globally, Says Fortune Business Insights™

Top companies covered in hair remover market are The Procter & Gamble Company, Reckitt Benckiser Group PLC, Sally Hansen, Church & Dwight Co., Inc., Nads, Emjoi, VI-John, Revitol, Codreamare, and more payers profiled

Pune INDIA


Pune, India, May 17, 2021 (GLOBE NEWSWIRE) -- The global hair remover market size is expected to inflate on account of the rising trend of fewer body hair on both women and men, shares Fortune Business Insights™, in its report, titled, “Hair Remover Market, 2021-2028.”

The national and international beauty pageants that take place, such as Miss World, Miss Universe, and others require participants to stay groomed at every point during the competition. This inspires women to maintain clean and smooth skin as a part of their personal grooming.

This personal grooming is not just limited to women anymore. Men are actively taking initiative to stay odor-free and with fewer body hair. For example, according to a report by ASSOCHAM, there has been a sudden rise in salons and other beauty spaces and surprisingly, men are contributing a substantial 45% to the total industry income. Therefore, the demand for men’s hair remover products is likely to boost in the upcoming years.

Moreover, established brands have started investing heavily in men’s personal hygiene products after observing the change men have initiated. For example, in November 2019, Procter & Gamble Company launched a hair removal cream for men under its brand Veet. The new product is believed to be a one-stop solution for men who desire a clean look for their bodies, without any inconvenience. This is set to boost the demand for hair remover during the forecast period.

 

List of Key Players Covered in the Hair Remover Market Report

  • The Procter & Gamble Company
  • Reckitt Benckiser Group PLC
  • Sally Hansen
  • Church & Dwight Co., Inc.
  • Nads
  • Emjoi
  • VI-John
  • Revitol
  • Codreamare


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Market Segmentation

On the basis of the product type, the hair remover market is divided into cream, wax strip, and razor.

Based on end-users, the market is segmented into men and women.

By sales channel, the market is further categorized into supermarket or hypermarket, cosmetic stores, and online stores.

With a geographical stand-point, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.


COVID-19 Impact

The unfortunate event of the global pandemic hit the world and every industry faced some collateral damage. Due to the strict government norms imposed on the national movement of vehicles be it commercial or passenger, the demand-supply chain cycle was seen disrupted. Some factories shut down their plants, whereas some laid off employees which disturbed the monetary system all around the globe. The beauty and wellness industry too did not escape the clutches of this ill-fated virus.

Women who otherwise prefer to stay groomed as a need for socializing stopped purchasing hair remover products as lockdowns were announced. The updated government rules required everyone to stay indoors, thereby affecting the sales of these beauty products. On the other hand, the trend of growing beard encouraged men to avoid the usage of hair removal products resulting in a low purchase rate.

For instance, in May 2020, a popular men’s grooming brand, Beardo started a campaign encouraging men to celebrate their facial hair during the lockdown. This strategy is expected to boost the sales of this company and help create its brand value in the market. Additionally, this is likely to increase the demand for hair remover products in the foreseeable future.


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Report Coverage

The report offers a holistic evaluation based on thorough research of the market. It further provides an in-depth analysis of the current market trends and future opportunities. The report sheds light on the market drivers and restraints. Moreover, key players and their shrewd strategies to prosper in the market and dominate as prominent players are shared in the report. A detailed study of the regional dynamics and how they shape the market is observed in the report.


Market Drivers

Inflating Need for Personal Hygiene Products to Bolster the Market Growth

The major factor that is steering the market growth is the developed lifestyle of people due to the increased urbanization. Also, positively affecting factors are the rising disposable income of people in emerging economies and influence through social media and other digital platforms. But the primary factor responsible for the growth of the market is the surging consciousness regarding personal care and grooming majorly among the age group of 25-45 years. This is likely to boost the demand for hair remover products in the near future.

Whereas, due to the low pricing strategies applied by manufacturers, occasionally the product quality tends to decrease as well. Hence, several skin conditions may arise such as rashes, irritation, and more. The duplication of famous brands are produced which do not undergo any certification process, therefore, the demand for hair remover creams and products is estimated to decline further hampering the hair remover market growth.


Regional Insights

North America to Lead the Global Market Due to Improved Lifestyles of People

North America is anticipated to dominate in terms of the hair remover market share. The progress is on account of the lifestyle of people in this region. The trend of wearing swimwear at the beach and flaunting flawless skin has driven women towards using these products to stay groomed. This is set to fuel the demand for hair remover products and propel market growth in this region.

Asia Pacific is anticipated to witness substantial growth in the foreseeable future owing to the cheaper pricing strategies applied by companies which boosted the sale of their products in this region. The increased usage of digital platforms has further impacted the consumption of these products as promotions placed on these sites influence people to purchase them. These factors would spur market growth in this region.


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Competitive Landscape

Partnerships among Companies to Secure Their Brand Values in the Global Market

Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering up with other companies to extend their reach to end-users.

For example, in April 2019, Flipkart announced that it has partnered up with Beardo to launch its grooming kit and a range of electric trimmers on their leading e-commerce website. This will help both the companies gain popularity, enhance their user base, and observe high demand for hair remover products in the near future.


Key Industry Development

May 2020: Foreo, a Swedish skincare company launched a new product in its hair remover segment called Peach. It uses Intense Pulsed Light (IPL) for the hair removal process and can be used at home further eradicating the necessity to visit salons.


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Hair Removal Products Market Size, Share & COVID-19 Impact Analysis, By Product (Creams, Ready to use Wax Strips, Electronic Devices, and Razors), Gender (Men and Women), End User (Dermatology Clinics and Beauty Clinics), and Regional Forecast, 2020-2027

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