Global Hair Removal Products Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cream & Lotion, Wax Strips, Electronic Devices & Razor), By Gender (Men, Women), By Distribution Channel (Supermarkets & Hypermarkets, Drugstores, Convenience Stores, Online), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The hair removal products market was valued at USD 2.4 Bn in 2021. The market is projected to grow USD 4.3 Bn in 2030, at a CAGR of 5.6%. Hair removal products are becoming increasingly popular as people become more conscious of personal maintenance and the enhancement of exquisite appearances. Using the goods has a number of benefits, including improving skin complexion, reducing body odour, and smoothing the hair's surface. These products are in high demand, especially in the leisure and hospitality industries, which adhere to stringent formalities in maintaining a decent appearance. Growing awareness of personal grooming and improving aesthetic appeal are some of the factors driving the global industry forward. According to the United States Bureau of Labor Statistics, the leisure and hospitality business employed 1.1 million people in the United States in August 2019. Furthermore, models in the fashion business contribute to the increased demand for hair removal treatments, as this line of work necessitates meticulous body care and maintenance.

COVID-19 ANALYSIS

The COVID-19 pandemic has shown a positive effect on the market for hair removal products market. With the outbreak of COVID-19 epidemic, a significant surge in sales of hair removal products witnessed especially during the initial weeks of the pandemic, due to panic buying among consumers. By passing days, the demand and sales of these products have been fairly stable. Due to lockdown restrictions, majorly countries have observed an increase in online sales of essential commodities including hair removal products. However, the COVID-19 pandemic has been slightly obstructed the manufacturing by disrupting supply networks such as material suppliers and distributors in the global hair removal products market.

LATEST TREND

Increased Congestion on Online Channels During COVID-19

Consumers have been unable to leave their homes due to the spread of this deadly infection. As a result, consumer preference towards online channel has been shifted. Hair removal products such as intense pulsed light (IPL) devices, removing cream, and laser hair removing devices, among others, have seen a growth in usage through e-commerce distribution channels, taking into account sanitation and cleanliness. This sales channel is safer and preferred because it requires minimum human interaction, lowering the danger of virus infection. For example, Reuters reported in March 2019 that "Coronavirus introduces no-contact food delivery to the United States." Due to the outbreak of COVID-19 in the United States, e-commerce delivery systems have begun to implement a new practise of putting bags of goods at front doors or providing deliverers a snapshot of where the item should be placed.

DRIVING FACTORS

Increasing Disposable Income along with Spending on Personal Care Products

The global market is benefiting from an increase in consumer disposable income and higher spending on personal care goods. Convenient hair removal tools, such as electronic gadgets and ready-to-use wax strips, are gaining popularity among consumers looking for quick and easy solutions. As a result, the global market for hair removal products will develop faster.

Increased Demand due to Busy Lifestyle Specially with Women Working Professionals

Companies have introduced technically improved epilators in response to a busy lifestyle and increased consumer demand for easy grooming items. To avoid bruises, these devices have sensors that send out alerts when the skin is squeezed too firmly. Due to the growing number of working women, the epilators market is seeing increased sales, boosting the global industry's growth. Epilators are made by a variety of companies, including Philips, Braun, and Reckitt Benckiser.

RESTRAINTS

Limited Penetration in Rural Areas May Hinder the Market Growth

Rural areas of certain countries are untapped market for the hair removal products market. Therefore, limited penetration in undeveloped or rural areas plays significant restraint for the growth in the global hair removal products market. Still, women from rural areas use traditional ways to clear their hair. There is lack of awareness about the hair removal products in the rural areas.

SEGMENTATION

The global hair removal products market is segmented by Product Type (Cream & Lotion, Wax Strips, Electronic Devices & Razor), By Gender (Men, Women), By Distribution Channel (Supermarkets & Hypermarkets, Drugstores, Convenience Stores, Online) and Region. Based on the product type, the market is categorized into cream & lotion, wax strips, electronic devices & razor. Based on gender, the market is categorized into men, women. Based on distribution channel, the market is categorized into supermarkets & hypermarkets, drugstores, convenience stores, online. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Product Type Insights

Based on the product type segment, the global hair removal products market is categorized into cream & lotion, wax strips, electronic devices & razor. The cream & lotion segment has dominated the market share in 2020 of global hair removal products market owing to the preferred above other product kinds because of its effectiveness and capacity to quickly remove hair from the body. Similarly, a huge number of creams that may not only remove hair but also hydrate and leave the skin silky smooth with a nice scent are likely to increase demand.

The electronic devices are anticipated to grow over the next few years of global hair removal products market. Electronic devices such as epilators are projected to see increased sales as a result of technological developments and a growing demand among customers for hassle-free hair removal tools. Companies are also concentrating on developing separate hair removal devices for men and women, based on their skin types. For example, Braun Silk Epil 9, 7, and Philips Satinelle are two epilators created specifically for males. Epilators have grown in popularity as a result of rising need for quick-fix grooming solutions, particularly among working women. Emjoi Soft Caress Epilator, for example, has 36 tweezers and allows for rapid hair removal.

Gender Insights

Based on the gender segment, the global hair removal products market is categorized into men, women. The women segment has dominated the market share in 2020 of global hair removal products market owing to the surging demand from women working professionals due to their busy lifestyle. Moreover, because a huge number of firms are developing items that are specifically geared to meet the needs of women.

The men segment is anticipated to grow over the next few years of global hair removal products market owing to the increasingly popular among males, which is projected to drive the global industry in the coming years. Some of the reasons projected to drive the worldwide market expansion during the forecast period include the growing trend of metro sexuality and the desire to maintain personal hygiene and grooming habits. The adoption of hair as a symbol of pride by most males diminishes product usage in this area. Nonetheless, the men's market is showing signs of improvement, thanks to a growing acceptance of trendy styles that promote less hair on men's bodies.

Distribution Channel Insights

Based on the distribution channel segment, the global hair removal products market is categorized into supermarkets & hypermarkets, drugstores, convenience stores, and online. The supermarkets and hypermarkets segment is dominated the market share in 2020 of the global hair removal products market owing to the advantages, such as scanning the product before purchasing, which influences their purchasing decision, the availability of an in-store assistant who assists them in choosing the proper product, and the option to buy the product immediately. Furthermore, the availability of a diverse range of items from various brands allows buyers to compare brands. Supermarket and hypermarket sales have also increased as a result of the architecture of this distribution channel and promotional initiatives by prominent brands.

The online segment is anticipated to grow over the next few years of global hair removal products market owing to the increased use of e-commerce and smart devices such as smartphones and tablets, as well as benefits such as easy payment options and discounts. Furthermore, manufacturers are being compelled to provide their products through numerous online channels such as Nykaa, BigBasket, and Amazon in order to appeal to the growing online shopping market.

REGIONAL INSIGHTS

The global hair removal products market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific region is dominating the market share of global hair removal products market owing to the huge customer base of young people, hair removal products are being consumed more frequently. According to The Guardian, one of the world's largest English-language media websites, India's youth population was predicted to reach 600 million in January 2018, accounting for more than half of the country's population. Furthermore, the region's tremendous rise in the customer services industry, which includes delivery, healthcare, sales, and beauty clinics, has resulted in an increase in consumption. This is because many workplaces have rigorous personal grooming policies, which include keeping their hair short on their bodies.

However, North America region is anticipated to grow over the next few years of global hair removal products market owing to the high expenditure on personal grooming, rising electronic device penetration, and rising hygiene concerns among men and women are some of the factors that have been driving the market in the region. A growing variety of grooming enterprises, such as beauty salons, laser treatment, hair shaving salons, and others, are contributing significantly to the rising demand.

PLAYERS PROFILED:

• Procter & Gamble
• Reckitt Benckiser Group PLC
• Koninklijke Philips N.V.
• Church & Dwight Co., Inc.
• Emjoi, Inc.
• Sally Hansen
• Vi-john Group
• Hologic, Inc
• Venus Concept
• Softsheen-Carson
• Others

Key Developments:

May 2021- Emjoi offers the Emagine Epilator, which is designed specifically for guys. This device comes with 72 tweezers, as well as shaving and trimming attachments, making it a versatile tool.

SEGMENTATION

By Product Type

• Cream & Lotion
• Wax Strips
• Electronic Devices
• Others

By Gender

• Men
• Women

By Distribution Channel

• Supermarkets & Hypermarkets
• Drugstores
• Convenience Stores
• Online

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia