The global hair removal products market size was worth USD 2.2 billion, in 2018. The market is projected to grow with a CAGR of 5.5% over the forecast period, 2019 to 2025. Increasing focus on personal grooming and rise in spending on personal care are some of the key factors driving the market growth.
Increasing per capita income has led to a rise in consumers’ spending on personal care in both emerging and developed countries. Various hair removal solutions such as ready-to-use wax strips and electronic devices are gaining traction among consumers. Further, people who need quick hair removal solutions increasingly use these devices. This, in turn, is supplementing the market growth.
Changing consumers’ lifestyles led to a rise in demand for convenient and easy-to-use products. Owing to this, manufacturers have introduced a technically upgraded version of epilators. These devices are fitted with sensors to help protect against bruises while trimming. Further, the increasing population of working women is fueling the demand for epilators. A few of the major manufacturers of epilators are Braun, Philips, and Codream.
The increasing number of men opting for hair removal devices is also bolstering the demand for hair removal products. The increasing popularity of metrosexual culture is prompting companies to launch products that are suitable for men. For example, Emjoi offers a product called “Emagine Epilator” exclusively made for men. This multi-purpose device is equipped with multiple tweezers apart from trimming and shaving features.
The women segment held the largest share with over 55.0%, in 2018. Amid changing lifestyles for women, the demand for quick hair removal solutions is getting traction. Further, key players are emphasizing introducing multiple products based on women's skin type. Ready-to-use hair removal products are becoming popular as they provide convenient hair removal solutions than razors.
Men, on the other hand, are increasingly opting for hair removal products, which, in turn, is supplementing the market growth. Growing focus on personal grooming has resulted in a rise in the popularity of men’s hair removal products.
Supermarkets along with hypermarkets held 42.3% of the hair removal product market share, in 2018. These stores provide facilities such as scanning products and trying them before purchasing. Further, these stores deploy in-store associates to guide customers about the suitability of various kinds of products, their pros, and cons. This factor helps customers in making instant purchasing decisions, thereby supplementing the market growth. Moreover, the presence of a wide range of brands allows customers to compare between them.
The online distribution channel segment is likely to grow faster in the coming years. Increasing e-commerce platforms and multi-channel retailing are driving the online sales of the products. Further, these sales channels offer several benefits such as price comparison, a wide range of products to choose from, doorstep delivery, and cashback on certain products. All these factors encourage customers to go for online shopping, which, in turn, proliferating the growth of this segment.
Among different types, hair removal cream held over 41.7% of the market share, in 2018. Growing consumers’ inclination towards a cost-effective solution is driving this segment's growth. Moreover, these creams are popular among the younger generation as they look for quick solutions. Further, the availability of a wide range of products under this segment and increasing celebrity promotion of these products are fueling their demand.
On the other hand, electronic devices are projected to register the highest CAGR over the forecast period. Increasing demand for convenient hair removal solutions and technical advancements in electronic devices are driving the growth. Manufacturers are focusing on the introduction of hair removal products separately for both men and women. For example, Philips Satinelle and Braun Silk Epil 9 are designed for men.
North America occupied the largest share in the market with over 30%, in 2018. Growing expenditure on personal care, increasing demand for electronic devices, and rising awareness about personal hygiene among both men and women are attributing to the growth of the region.
Asia Pacific is estimated to grow with the fastest CAGR of 6.3% during the forecast years, 2019 to 2025. Rising metrosexual culture, increasing per capita income and growing participation of women in the workforce are some of the key reasons projected to spur the region’s growth.
The hair removal product market has been adversely affected owing to the outbreak of COVID-19. Consumer spending on personal care products has been reduced considerably following the pandemic outbreak. In addition, the closure of retail stores across the different parts of the world has resulted in reduced sales of hair removal products. Nonetheless, online sales have witnessed an increase in sales during the second and third quarters of 2020. This trend is anticipated to continue over the forecast duration. However, it would take a couple of years for the market to recover and witness a similar demand as the pre-COVID period. Manufacturers should focus on the introduction of cost-effective products and strengthening their online sales to garner a large consumer base.
Key players in the market are Church & Dwight, Codream, VI-John, Emjoi, Procter & Gamble, Reckitt Benckiser, Sally Hansen, Revitol, and Philips. Owing to the presence of established players, the market is quite competitive. To stay competitive, companies are focusing on product developments, mergers & acquisitions, and expanding their geographical presence. Recently, Veet introduced a new line of products that include hair removal creams for dry, normal, and sensitive skin types.
The base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2025
Revenue in USD Million & CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Revenue forecast, company share, competitive landscape, growth factors, and trends
U.S., U.K., Germany, China, India, and Brazil
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global hair removal products market report based on type, end-user, distribution channel, and region:
• Type Outlook (Revenue, USD Million, 2015 - 2025)
• Ready-to-use Wax Strips
• Electronic Devices
• End User Outlook (Revenue, USD Million, 2015 - 2025)
• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
• Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• the Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA
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