Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Hair Removal Products Market Forecast to 2028 - Global Analysis By Product Type, End User, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The 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 record a CAGR of 4.9% from 2022 to 2028.
The hair removal products market growth is mainly driven by a rise in demand for men's hair removal products and increase in spending on personal grooming products. Further, hair removal device manufacturers focus on research and development of technologically advanced products. The manufacturers are also focused on innovating better hair removal razors and patenting their developed technologies.
Based on end user, the global hair removal products market is bifurcated into men and women. The women segment held a larger market share in 2022. The rising working women population and increasing awareness about self-grooming among women drive the demand for hair removal products.
Women prefer painless, convenient, and hassle-free hair removal products such as cold wax strips, epilators, or hair removal creams, depending on their skin type and application area. However, the rise in the middle-class women population is increasing the demand for affordable hair removal products instead of high-cost permanent hair removal treatments.
Asia Pacific led the global hair removal products market share in 2022. In Asia Pacific, the hair removal products market growth is mainly driven by the increasing population and rising standard of living of people. The growth in population and high emphasis on health in the region are reforming customers' health priorities.
In 2022, Panasonic launched a six-blade shaver featuring Japanese blade technology as a grooming solution for men's thick facial hair. The growing personal grooming sector and rising product launches are expected to create favorable business opportunities for the hair removal products market in Asia Pacific during the forecast period. Further, in China, the rise in product differentiation in hair removal products and the increase in popularity of nonsurgical hair removal methods are projected to fuel the hair removal products market in the country in the coming years.
Market Dynamics
Drivers
- Rise in Demand for Men's Hair Removal Products
- Increased Spending on Personal Grooming Products
Restraints
- Adoption of Permanent Hair Removal Methods
Opportunities
- Development of Smart Hair Removal Devices
Future Trends
- Preference for Natural and Clean-Label Hair Removal Products
Companies Mentioned
- Church & Dwight Co., Inc.
- Reckitt Benckiser Group plc
- Oriflame Holding AG
- GIGI
- Venus Concept
- Procter & Gamble
- Koninklijke Philips N.V.
- Sally Hansen
- Si & D (Aust) (Pty) Ltd
- Revitol Players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 188 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $9596.39 Million |
| Forecasted Market Value (USD) by 2028 | $12786.19 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/cnpjv9
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