ALBANY, N.Y., April 28, 2022 (GLOBE NEWSWIRE) -- The global hair removal products market stood at US$ 1 Bn in 2020. The global market is expected to develop at a CAGR of 5.9% during the forecast period, from 2021 to 2031.The value of the global hair removal products market is estimated to cross the valuation of US$ 1.8 Bn by 2031.Men's hair removal products, which have undergone dermatological evaluation are in great demand. Exfoliating and hydrating the skin while eliminating unwanted hair are two of the objectives of new formulations for men's hair removal creams. Traditional shaving procedures have been proven to be less effective than these solutions. Creams that are both safe and efficient in removing unwanted hair are becoming more widely available.
The growing sales of hair removal products is driven by increase in beauty consciousness among women as well as men, and also specialized hair removal demands for children. Desire to maintain a well-groomed physical attractiveness is likely to drive the expansion of the global hair removal products market in the years to come.
Hair removal creams are becoming more popular as more men experience ingrown hair, red bumps, and cuts after shaving. With the help of these creams, hassle-free management of hairy legs, arms, backs, and chests are made possible. In hair removal creams for men, calming aloe Vera components are increasingly being preferred. Companies are merging and acquiring other businesses and spending on research &development activities to create formulas for men's hair removal creams that target coarse and thick hair strands.
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Key Findings of Market Report
- Hair removal product manufacturers are experimenting with hybrid waxes that are good for those with sensitive skin. Waxing workshops and courses are being offered by companies to increase product adoption. Hot wax and strip wax methods are covered under these classes, which is likely to assist in increasing efficiency and speed. In order to sell their products and expand businesses, beauticians are training in ear and nose waxing.
- Due to rising beauty concern among consumers all over the world, the global hair removal products market is expanding at a rapid pace, both in terms of size and value. Need to preserve a well-groomed physical appearance is likely to emerge as a primary driver for the global hair removal products market.
- IPL (intense pulsed light) devices is estimated to have a higher demand than any other hair removal equipment. The fact that these hair removal treatments are quite effective and have a longer impact on the development of body hair is one of the key factors for their increase in popularity.
- Aggressive mass marketing of hair removal items as well as increasing number of retailers joining the personal care industry's online space is projected to have a significant impact on the expansion of the global hair removal products market in the years to come
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Hair Removal Products Market: Growth Drivers
- The global hair removal products market is being driven by rising societal beauty standards and growing relevance of personal grooming. Rise in demand for hair removal gadgets and services due to greater awareness about physical appearance is expected to have a significant influence on the sales of hair removal products.
- North America is expected to have a leading share of the global hair removal products market. The region is one of the leading contributors to the global market due to the growing consumer attention toward personal grooming and their higher disposable incomes, which allows them to afford premium hair removal products.
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Global Hair Removal Products Market: Key Competitors
- Church & Dwight Co., Inc.
- Reckitt Benckiser Group PLC.
- VI-John Group
- The Procter & Gamble Company
- Sally Hansen
- Softsheen-Carson
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Global Hair Removal Products Market: Segmentation
Product Type
- Wax
- Devices
- Others
Application
- Face
- Body
- Ear
- Nose
- Other Body Parts
End Use
- Residential
- Commercial
Consumer Group
- Men
- Women
- Kids
Price Range
- Low
- Medium
- High
Distribution Channel
- Online
- Offline
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