Hair Removal Products Market Growth Drivers and Forecast by 2028
Historic Data: 2020-2021 | Base Year: 2022 | Forecast Period: 2023-2028Hair Removal Products Market Forecast to 2028 - 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)
- Report Date : May 2023
- Report Code : TIPRE00023369
- Category : Consumer Goods
- Status : Published
- Available Report Formats :
- No. of Pages : 162
AI overview of Hair Removal Products Market
The Hair Removal Products Market is poised for significant growth, projected to reach a market size of US$ 12.79 billion by 2028, up from US$ 9.6 billion in 2022, reflecting a robust CAGR of 4.9% from 2022 to 2028. This growth is driven by the increasing popularity of personal grooming and advancements in technology, particularly in laser and light-based hair removal devices. The market is segmented by product type, including creams, wax strips, and epilators, catering to both men and women through various distribution channels such as online retail and supermarkets. Future trends indicate a rising demand for innovative, pain-free hair removal solutions and eco-friendly options, as consumers become more conscious of sustainability. The Hair Removal Products Market report highlights these dynamics, showcasing the evolving landscape of personal care.
[Research Report] 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.
Hair removal products such as creams, wax strips, razors & blades, epilators, wax, spray, gel, and other are used to remove hair on the human body. The global market is segmented on the basis of product type, end user, and distribution channel. The rising population and high consumer spending on grooming products, especially in males, propel the demand for hair removal products in different regions.
The global hair removal products market share for Asia Pacific was the largest in 2022. Based on country, the hair removal products market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The influence of social media, increase in population, and the rise in awareness of trending fashion and style statements are expected to boost the regional market during the forecast period. Therefore, major market players in the region focus on developing innovative and affordable hair removal products to meet customer requirements. Moreover, the adoption of various growth strategies such as partnerships, research and development, marketing campaigns, and acquisitions is expected to fuel the hair removal products market growth in the region in the coming years. In 2022, Koninklijke Philips NV launched ‘Wonder of You’ campaign to expand its self-health care segment in Asia.
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Hair Removal Products Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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Hair Removal Products Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Impact of COVID-19 Pandemic on Hair Removal Products Market
Before the COVID-19 pandemic, the demand for hair removal products was mainly driven by high consumer spending on grooming products and rising demand for men’s hair removal products. However, several industries slowed down their operations in 2020 due to disruptions in value chains caused by the shutdown of national and international boundaries in response to the COVID-19 pandemic. The pandemic created a global health havoc that disrupted the functioning of all industries, including the consumer goods industry. The sales of different hair removal products declined due to the closure of salons. At the same time, there was an increase in traffic on e-commerce sites, and more consumers started buying products online. In 2021, the demand for hair removal products surged with the resumption of business activities and lifting of lockdown measures, which is expected to offer lucrative opportunities for the hair removal products market during the forecast period.
Market Insights
Rise in Demand for Men's Hair Removal Products
The rise in global promotional campaigns regarding personal hair removal products has shifted the customer perspective from salon styling to at-home personal care. Moreover, the frequency of facial shaving and undesired body hair removal is higher among men than women. Men generally use razors and blades for facial hair removal or trimming and prefer hair removal creams or sprays for removing undesired body hair. The shift in men's attitude toward personal or self-care regimes has encouraged manufacturers to develop products specific to men's skin types and requirements. For instance, in 2019, Reckitt Benckiser Group plc launched the Veet hair removal cream range for men, featuring Veet Men Normal and Veet Men Sensitive. Moreover, various companies offer razor or hair removal kit subscriptions to customers, wherein, the company delivers hair removal kits to their doorstep on a regular interval specified by the customer. For instance, companies such as Harry's, Dollar Shave Club, and The Procter & Gamble Company offer hair removal subscription boxes. Rise in demand for men's personal grooming products such as hair clippers, electric shavers, razors, blades, and hair removal creams is driving the hair removal products market growth.
Product Type Insights
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. Razors and blades are used to remove hair from the skin’s surface. This process does not involve the uprooting of hair. Hair removal with razors and blades is a convenient and time-saving method, and it also acts as an exfoliator to remove dead skin cells. Razors are available in various types such as cartridge razors, safety razors, and electric razors.
Church & Dwight Co., Inc.; Reckitt Benckiser Group plc; Oriflame Holding AG; GIGI; American International Inc.; Procter & Gamble; Koninklijke Philips N.V.; Sally Hansen; Si & D (Aust) (Pty) Ltd; and Revitol Corp Players 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.
Report Spotlights
- Progressive industry trends in the hair removal products market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the hair removal products market from 2020 to 2028
- Estimation of global demand for hair removal products
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the hair removal products market growth
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Hair removal products market size at various nodes
- Detailed overview and segmentation of the market, as well as the hair removal products industry dynamics
- Size of the hair removal products market in various regions with promising growth opportunities
Global Hair Removal Products Market
By product type, the global hair removal products market is segmented into creams, wax strips, razors & blades, epilators, and others. Based on end user, the market is bifurcated into men and women. The global hair removal products market, based on distribution channel, is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others.
Hair Removal Products Market Regional Insights
The regional trends and factors influencing the Hair Removal Products Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Hair Removal Products Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Hair Removal Products Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 9.6 Billion |
| Market Size by 2028 | US$ 12.79 Billion |
| Global CAGR (2022 - 2028) | 4.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Hair Removal Products Market Players Density: Understanding Its Impact on Business Dynamics
The Hair Removal Products Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
- Get the Hair Removal Products Market top key players overview
Company Profiles
- Church & Dwight Co., Inc.
- Reckitt Benckiser Group plc
- Oriflame Holding AG
- GIGI
- American International Inc.
- Procter & Gamble
- Koninklijke Philips N.V.
- Sally Hansen
- Si & D (Aust) (Pty) Ltd
- Revitol Corp
Frequently Asked Questions
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The List of Companies - Hair Removal Products Market
- Church & Dwight Co., Inc.
- Reckitt Benckiser Group plc
- Oriflame Holding AG
- GIGI
- American International Inc.
- Procter & Gamble
- Koninklijke Philips N.V.
- Sally Hansen
- Si & D (Aust) (Pty) Ltd
- Revitol Corp
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