Global Hair Removal Products Market Size To Exceed USD 7.94 Billion By 2033 | CAGR of 8.35%
Category: Consumer GoodsGlobal Hair Removal Products Market Size To Exceed USD 7.94 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Hair Removal Products Market Size is Expected to Grow from USD 3.56 Billion in 2023 to USD 7.94 Billion By 2033, at a CAGR of 8.35% during the Forecast Period 2023-2033.
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Browse key industry insights spread across 240 pages with 104 Market data tables and figures & charts from the report on the "Global Hair Removal Products Market Size, Share, and COVID-19 Impact Analysis, By Product (Cream, Ready-To-Use Wax Strips, Electronic Devices, Razors, and Others), By End-Users (Men and Women), By Distribution Channel (Company Owned Website, E-Commerce Website, Hypermarkets and Supermarkets, Specialty Stores, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/hair-removal-products-market
The hair removal product market refers to any device or substance used to remove excess hair from the body. Their function is to obtain smooth skin by cutting, dissolving, or pulling hair out of hair follicles. Hair removal items are usually utilized for beauty purposes or because of cultural beliefs. The market for hair removal products has a few interesting trends influencing its direction. Furthermore, home-based hair removal devices, fueled by innovation, provide convenience and economy of scale, fueling growth in this category. In addition, some forms of brands developing marketing schemes like gifts, discounts, and buy one get one free, among others are assisting in creating more momentum. In July 2020, the Economic Times reported that major FMCG giants like ITC, Godrej, Dabur, Emami, and Marico are witnessing a surge in sales in semi-urban and rural markets amid this pandemic. Moreover, the increasing urbanization leads to the creation of more individuals who are becoming increasingly self-aware in terms of their grooming and hygiene such as haircut maintenance, thus positively impacting the rate of product consumption. However, the rising tariff on exporting and importing raw material between nations is likely to exacerbate the price of raw material. Therefore, the increasing price of raw materials that are utilized for the manufacturing of hair removal products is hurting the price and also inhibiting the growth of the market.
The cream segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the products, the hair removal product market is segmented into cream, ready-to-use wax strips, electronic devices, razors, and others. Among these, the cream segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to its ease of use & convenience, painless experience, and accessibility. Additionally, hair removal creams provide a painless and convenient experience of hair removal as opposed to other techniques like waxing or shaving.
The women segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the end-users, the global hair removal products market is divided into men and women. Among these, the women segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by a large number of manufacturers coming up with products that are specifically designed to cater to the demand of women. Additionally, Social beauty standards often combine smooth, hairless skin with attraction and femininity, demanding the need for effective hair removal solutions.
The hypermarkets & supermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global hair removal products market is categorized into company-owned websites, e-commerce websites, hypermarkets and supermarkets, specialty stores, and others. Among these, the hypermarkets and supermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to provide a variety of hair removal products such as razors, depilatory creams, and laser hair removal devices to suit the varied needs of consumers.
North America is expected to hold the majority share of the global hair removal products market during the forecast period.
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North America is expected to hold the majority share of the global hair removal products market during the forecast period. North America dominates the market increased awareness of hair removal products, ranging from traditional methods like shaving and waxing to new solutions including laser hair removal. Additionally, tailored advertising and targeted marketing are increasingly on the rise in the American market of hair removal creams.
Asia-Pacific is anticipated to grow at the fastest pace in the global hair removal products market during the forecast period. Asia-Pacific is rapidly growing due to its wide range of products, including razors, waxing kits, depilatory creams, laser hair removal devices, and epilators. Moreover, the variability allows the market to meet different consumer tastes, skin types, and budget levels, thus propelling growth.
Major vendors in the global hair removal products market are Emjoi, Inc., Philips Personal Care B.V, Vijohnkart.com, SI&D (Aust) Pty Ltd, Revitol, Sally Hansen, Helios Lifestyle Private Limited., Beiersdorf, Braun, Conair, CurrentBody, CyDen, L'Oréal, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Devlopment
- In Augusr 2022, UrbanGabru launched india's first painless hair removal spray for men. The product has a foam-based texture that gives a painless hair removal and de-tan property that keeps the skin smooth and moisturized.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Hair removal products market based on the below-mentioned segments:
Global Hair Removal Products Market, By Product
- Cream
- Ready-to-use wax Strips
- Electronic Devices
- Razors
- Others
Global Hair Removal Products Market, By End-Users
- Men
- Women
Global Hair Removal Products Market, By Distribution Channels
- Company Owned Website
- E-commerce Website
- Hypermarkets and Supermarkets
- Specialty Stores
- Others
Global Hair Removal Products Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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