According to a new market report published by Industry Probe, the global hair removal products market is expected to reach US$ 38.15 Bn by 2027 and expand at a CAGR of 5.7% from 2019 to 2027.
New York, NY -- (ReleaseWire) -- 08/04/2020 --According to a new market report published by Industry Probe (www.industryprobe.com) titled 'Hair Removal Products Market (Product Type: Cream, Wax [Soft Wax and Hard Wax], Razor, Spray, Gel, and Electronic Devices [Trimmer, Epilator, and Shaver]; End User: Men and Women; Application: Individual and Commercial [Spa and Beauty & Salon]; and Distribution Channel: Online [Company-owned Website, e- Commerce Website] and Offline [Hypermarkets/Supermarkets, Pharmacies, Beauty Salon, and Others]) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027', the global hair removal products market is expected to reach US$ 38.15 Bn by 2027 and expand at a CAGR of 5.7% from 2019 to 2027.
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The global hair removal products market was valued at US$ 23,436.2 Mn in 2018 and is expected to expand at a CAGR of 5.7% from 2019 to 2027. North America was expected to hold the largest share of the global hair removal products market in 2017, followed by Europe and Asia Pacific. Asia Pacific is expected to be a key upcoming market for hair removal product market during the forecast period. Increasing consumer spending capacities, rising disposable incomes, increasing knowledge about beauty and skin care trends, and also rising awareness about the use of skin care products have led to rapid growth of hair removal products market during the forecast period. The rising popularity of hair removal products is one of the major factors that have a positive impact on the growth of the global hair removal products market. Increase in disposable income, purchasing power, and working women population is expected to accelerate the growth of the hair removal products during the forecast period.
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Socio-cultural changes are also expected to drive the overall hair removal products globally during the forecast period. Moreover, rapid innovation in hair removal products is anticipated to accelerate the global hair removal products. Market players are focusing on the adoption of business strategies such as product development and expanding the distribution channel. This is expected to increase the demand for hair removal products across the world during the forecast period. However, hair removal treatments such as non-surgical and non-invasive procedures are gaining popularity, owing to increasing consumer preferences. This factor is expected to hamper the hair removal products market during the forecast period.
In terms of product type, wax hair removal products are expected to witness high demand during the forecast period. Waxing offers a clean and clear skin for a longer duration as compared to the other alternatives. It can be easily carried out on any area of the body including eyebrows, face, bikini area, legs, arms, back, abdomen, and feet. In terms of end user, the women segment is expected to hold a major market share and grow at the fastest rate during the forecast period. Increase in the number of working women has driven more women to use hair removal products. Moreover, there is also a rise in male groomers. Based on application, the commercial segment is expected to hold a major market share. The individual segment is anticipated to grow at the fastest rate during the forecast period.
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In terms of distribution channel, the online distribution channel is projected to be the most attractive segment during the forecast period. Social media also adds to the online sales as consumers often rely on Internet learning and blogs about new trends and products, which decides their buying behavior. In terms of region, North America is expected to hold a major market share of the global hair removal products market, followed by Europe and Asia Pacific. In the Asia Pacific region, China holds the largest market for hair removal products in the Asia Pacific followed by Japan in 2018.
The hair removal products market is dominated by several players who are focused on the development of new products to cater to the rising and shifting consumer preferences
The report includes the below mentioned pointers of major players operating in the hair removal products market:
- Competition Matrix
- Company Overview
- Market Share Analysis (2018)
- Product Innovation
- Business Strategies / Recent Developments
- Technological advancements
- Key mergers and acquisitions
- Expansion strategies
- Company Financials
Some of the major players operating in the global hair removal products market featured to give a better competitive analysis of the market include Church and Dwight Co., Inc., American International Industries, Reckitt Benckiser Group plc., Kera-Ban Wax Products, Procter & Gamble, Sally Hansen, Edgewell Personal Care, Perron Rigot, Sue Ismiel and Daughters, and Coloris Cosmetics.
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Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprise syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring true & actionable insights into our clients' business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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