Hair removal products temporarily remove hair from the body and facial areas, and the skin stays smooth and free of hair for weeks. Hair removal products exfoliate the skin to prevent ingrown hair and offers smooth skin.
Hair removal products, which include cream, wax, spray, razor, gel, and electronic devices. The razor segment is projected to dominate the hair removal products market globally. Changing lifestyle, increasing awareness on body hair, especially intimate areas triggering the female health consciousness and hygiene, and low-cost razor are few factors boosting the market growth of the razor segment during the forecast period.
In 2017, North America is expected to hold a major market share due to the growing beauty and skincare awareness
European countries are majorly driven toward hair removal products, due to rising spending capacities; and therefore, women are simply opting for repeat treatments as necessary to prevent hair from growing back and keeping skin smooth and hair-free
With the rise in population, the market in the Asia Pacific is anticipated to expand at a rapid pace. China and India, followed by Japan are significant in the hair removal wax market, due to the high inclination of consumers toward hairless body fashion trends.
In current times, innovative packaging is playing an important role in accelerating the sales of cosmetics. Multinationals companies are preferring to use environment-friendly packaging materials.
As waxing is becoming more popular, people are looking to make sure they are receiving the highest quality of service. Bikini wax has become one of the most popular hairs removal treatments. More people are also opting for Brazilian waxing and consider it as an important part of their beauty routine.
Increasing health and hygiene awareness and growing accessibility to various hair removal products have enhanced the growth of the hair removal products market. The growing e-Commerce trend among users, which enables the easy availability of such products, has also influenced the increased usage of hair removal products.
In addition to this, an increasing number of working women also has driven more women to use hair removal products. Along with increasing female users, there is a rise in male groomers.
Growth of the middle-class population and rising incomes enables consumers to spend more on discretional products, with disposable income increasing the buying capacity
Other factors such as increasing skin and personal care awareness among consumers and rapid changes in the lifestyle of women as well as men is expected to drive the overall hair removal products market during the forecast period
There is consciousness for a youthful appearance in the male population, thus attracting male consumers towards the hair removal products market
The global hair removal products market has been segmented based on product type, end-user, application, distribution channel, and region.
In terms of product type, the global hair removal products market has been classified into cream, wax, razor, spray, gel, and electronic devices. Razor is expected to hold a major market share, followed by wax in 2017. In terms of growth rate, the wax segment is expected to grow at the fastest rate during the forecast period.
In terms of end-user, the global hair removal products market has been divided into men and women. The hair removal products market is largely dominated by women and is expected to grow at a faster pace, owing to changing beauty trends among women and increasing consumer awareness for personal grooming.
In terms of application, the global hair removal products market has been classified into individual and commercial segments. The commercial segment is further segmented into beauty & salon and spa. The commercial segment is expected to hold a major market share and the individual segment is expected to grow at the fastest rate during the forecast period.
The market has been bifurcated into online and offline, where the online segment has been sub-segmented into company-owned websites and e-Commerce websites. The offline segment has been divided into hypermarkets/supermarkets, specialty stores, and brand stores. Offline sales are expected to grow at a slower pace, as they are affected by increasing online sales.
Based on region, the market has been classified into North America (U.S., Canada, Mexico, and Rest of North America), Europe (U.K., Italy, France, Germany, and Rest of Europe), Asia Pacific (India, China, Japan, Australia, Malaysia, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Argentina, Brazil, and Rest of South America). North America region is expected to hold a major market share in the global hair removal products market. Factor such as increasing skincare awareness and a large number of product launches are expected to increase the demand of hair removal products in North America during the forecast period.
The hair removal products market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years with the entry of several local players. Some of the key players in the market are Church and Dwight Co., Inc., Reckitt Benckiser Group plc, Procter & Gamble, Edgewell Personal Care, Sue Ismiel and Daughters, Coloris Cosmetics, American International Industries, Kera-Ban Wax Products, Sally Hansen, and Perron Rigot, among others.