Pune, India, July 03, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on “Hair Removal Products Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Distribution Channel, End User and Geography”, the global hair removal products market size is expected to grow from US$ 9,596.39 million in 2022 to US$ 12,786.19 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
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Global Hair Removal Products Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 9,596.39 million in 2022 |
| Market Size Value by | US$ 12,786.19 million by 2028 |
| Growth rate | CAGR of 4.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 162 |
| No. of Tables | 86 |
| No. of Charts & Figures | 79 |
| Historical data available | Yes |
| Segments covered | Product Type, End User, and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Reckitt Benckiser Group plc; GIGI; American International Inc.; Procter & Gamble; Oriflame Holding AG; Koninklijke Philips N.V.; Church & Dwight Co., Inc.; Sally Hansen; Si & D (Aust) (Pty) Ltd; and Revitol Corp |
Browse key market insights spread across 162 pages with 86 list of tables & 79 list of figures from the report, "Hair Removal Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Creams, Wax Strips, Razors & Blades, Epilators, and Others), End User (Men and Women), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/hair-removal-products-market
Global Hair Removal Products Market: Competitive Landscape and Key Developments
Reckitt Benckiser Group plc; GIGI; American International Inc.; Procter & Gamble; Oriflame Holding AG; Koninklijke Philips N.V.; Church & Dwight Co., Inc.; Sally Hansen; Si & D (Aust) (Pty) Ltd; and Revitol Corp are a few players operating in the hair removal products market. These market players are focusing on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities, new product launches, collaborations, and mergers & acquisitions.
In 2022, Reckitt Benckiser Group Plc launched the Veet Pure range of hair removal creams to reformulate its products. The product range contains natural extracts of cucumber, aloe vera, and grapeseed oil.
In 2022, Urban Yog launched a hair removal spray in India. The spray contains aloe vera and tulip extract. The product also features added functionality such as dryness reduction, tan removal, and skin moisture-locking property.
Global Hair Removal Products Market: Key Insights
The projected market growth is attributed to the rise in demand for men's hair removal products and increase in spending on personal grooming products.
In 2022, Asia Pacific held the largest share of the global hair removal products market. The hair removal products market growth in the region is mainly driven by the growing awareness about enhancing aesthetic appeal, rising disposable income of people, and increasing spending on personal care products. In India, growing awareness of self-care and personal grooming and increasing youth population drive the demand for hair removal products. The change in customer buying behavior, transition from salon grooming to DIY (Do-It-Yourself) trend, and electrification of personal care products are also fueling the hair removal products market growth in India.
Preference for Natural and Clean-Label Hair Removal Products Drive Global Hair Removal Products Market Growth:
Natural and clean hair removal products are gaining popularity across the world due to the growing awareness regarding the harmful effects of cosmetic chemicals and rising inclination toward green and clean beauty trends. The growing awareness of the disadvantages of sulfides, stannites, mercaptans, thio compounds, and phthalates, among others, has encouraged manufacturers to innovate natural hair removal solutions. The increased demand for natural and organic hair removal products across various distribution channels has prompted manufacturers to develop natural products based on customer requirements. For instance, in 2022, Hoosh launched vegan hair removal cream containing natural and vegan ingredients. Thus, consumer preference for natural and clean hair removal products boosts the global hair removal products market growth.
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Global Hair Removal Products Market: Segmental Overview
Based on product type, the global hair removal products market is segmented into creams, wax strips, razors & blades, epilators, and others. The razors & blades segment held the largest market share in 2022. The wax strips segment is expected to register the highest CAGR during the forecast period. Wax strips, also known as cold wax strips, consist of a pre-waxed solution on a ready-to-use muslin or cellulose strip. The strips are convenient and hassle-free hair removal products available in a pre-cut standard-sized strip. A wax strip comprises three components—a flat backing substrate or support layer (cellulosic material), a depilatory wax layer, and a release or peel-off layer. They are affordable hair removal option effective for the removal of short hair and suitable for sensitive skin type.
Based on end user, the hair removal products market is bifurcated into men and women. The men segment is expected to register a higher CAGR during the forecast period. The frequency of facial hair removal or shaving is high in men, which is creating a demand for hair removal products. Moreover, men’s increased spending on personal grooming products and rising awareness regarding self-care, beard styling, and looks are expected to drive the demand for hair removal products among men in the coming years.
Impact of COVID-19 Pandemic on Global Hair Removal Products Market:
The COVID-19 pandemic severely impacted various economies across the world. The pandemic significantly hampered the hair removal products market growth due to adverse effects on the growth of the consumer goods industry. During the pandemic, most of the salons had halted their services, which hampered the demand for hair removal products. On the other hand, there has been an increase in online sales of home-use hair removal products. The pandemic has negatively impacted the hair removal products market growth in the initial phase. However, the market is gaining traction with the increasing demand for hair removal devices across the world.
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Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Hair Removal Devices Market - Hair removal devices market is driven by growth in noninvasive techniques for personal grooming and development of novel products.
Hair Removal Creams and Lotions Market - Growing consciousness regarding personal hygiene, rising urbanization and increasing per capita disposable income to boost market growth of hair removal cream and lotions.
Disposable Razors Market - The growing travel industry is adding to the increasing sales of disposable razors. The rising number of travelers worldwide adds to the growing demand for disposable razors that provide economic and convenient alternatives for men's grooming.
Disposable Razor Blades Market - The disposable types of razors are suitable for travel which is driving the growth of the disposable razor blades market.
Hair Trimmers Market - Hair trimmers market to rise due to drowing living standards and increased urbanization with Increasing disposable income.
Women's Razor Market - The inclination towards the imitation of gender-neutral concept in beauty products, the introduction of portable razors, the arrival of green technology (razors) and the emergence of brands is expected to drive the growth of the women's razor market during the forecast period.
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