Hair Removal Products Market to Grow at a CAGR of 5.9%

ALBANY, NY, April 28, 2022 (GLOBE NEWSWIRE) — The global market for hair removal products was worth US$1 billion in 2020. The global market is expected to expand 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 surpass the value of US$1.8 billion by 2031. Hair removal products for men, which have made the subject to dermatological evaluation, are in high demand. Exfoliating and moisturizing the skin while removing unwanted hair are two of the goals of new formulations of hair removal creams for men. Traditional shaving procedures have proven to be less effective than these solutions. Creams that are both safe and effective for removing unwanted hair are becoming more widely available.

Hair removal product sales growth is driven by rising beauty awareness among both women and men, as well as demand for specialized hair removal for children. The desire to maintain a well-groomed physical attractiveness is likely to drive the expansion of the global hair removal products market in the coming years.

Hair removal creams are becoming increasingly popular as more and more men experience ingrown hairs, red bumps and cuts after shaving. With the help of these creams, hassle-free management of hairy legs, arms, back and chest is made possible. In hair removal creams for men, the soothing components of aloe vera are increasingly preferred. Companies merge and acquire other companies and spend on research and development to create men’s hair removal cream formulas that target coarse and thick strands of hair.

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Key Findings of the Market Report

  • Manufacturers of hair removal products are experimenting with hybrid waxes that are suitable for sensitive skin. Waxing workshops and classes are offered by companies to increase product adoption. Both hot wax and strip wax methods are covered in these classes, which is likely to help increase efficiency and speed. In order to sell their products and develop their activities, beauticians train in ear and nose waxing.
  • Due to the growing beauty concerns among consumers worldwide, the global hair removal products market is growing at a rapid pace, both in terms of size and value. The need to maintain a well-groomed physical appearance is likely to become the major driver of the global hair removal products market.
  • It is estimated that IPL (intense pulsed light) devices 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 behind their growing popularity.
  • Aggressive mass marketing of hair removal items along with the growing number of retailers joining the online space of the personal care industry is expected to have a significant impact on the expansion of the global hair removal products market in the coming years. coming.

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Hair Removal Products Market: Growth Drivers

  • The global hair removal products market is driven by rising societal beauty standards and increasing relevance of personal care. The increase in demand for hair removal gadgets and services due to greater awareness of physical appearance is expected to have a significant influence on the sales of hair removal products.
  • North America is expected to hold a major share of the global hair removal products market. The region is one of the major contributors to the global market due to consumers’ growing attention towards personal care and their higher disposable incomes, which enables them to purchase high-end hair removal products.

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Global Hair Removal Products Market: Key Competitors

  • Church & Dwight Co., Inc.
  • Reckitt Benckiser PLC Group.
  • VI-John Group
  • The Procter & Gamble Company
  • Sally Hansen
  • Softsheen Carson

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Global Hair Removal Products Market: Segmentation

type of product

Application

  • Confront
  • Body
  • Ear
  • Nose
  • Other parts of the body

End use

consumer group

Price scale

Distribution channel

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