Press Release

Hair removal products are projected to become more popular as technology advances, resulting in more promotional campaigns emphasising the significance of personal grooming. The need has been accelerated by intense competition among main firms, which has resulted in them pursuing more rural areas to extend their footprint. For example, the Economic Times reported in July 2020 that major FMCG companies including as ITC, Godrej, Dabur, Emami, and Marico are seeing increased sales in rural and semi-urban regions due to the pandemic. Furthermore, as the world becomes more urbanised, more individuals are becoming more mindful of their grooming and hygiene, especially the upkeep of short hair, which has a beneficial impact on product usage.

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The increase in spending on personal care goods, such as hair removal creams, is due to many countries' high disposable income. Manufacturers targeting low to high-income earners have helped to attract more customers by producing a wide choice of inexpensive products for all types of customers. Furthermore, the rising cost of beauty and hair salon services is encouraging more people to use the service. Furthermore, certain types of firms are generating more traction by implementing marketing methods such as free gifts, discounts, and buy one get one free, among others. These variables have a crucial role in increasing spending on hair removal products, resulting in a flourishing industry.

The rising importance of personal grooming and rising beauty standards are the primary drivers driving the global hair removal industry forward. It could be significantly influenced by a surge in demand for hair removal items and services as a result of people's growing awareness of their own beauty. In the coming years, there could be an astounding rise in market development, aided by a few unexpected twists of fate. Due to a continual increase in customer purchasing intensity, hair removal item sales may increase. The growing desire to maintain a presentable and well-groomed physical appearance is driving this market forward. The increased popularity of at-home hair removal treatments among the younger generation is likely to boost interest in hair removal choices around the world in the coming years.

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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. 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 supermarkets and hypermarkets segment is dominated the market share in 2020 of global hair removal products market owing to the advantages, such as scanning the product before to purchase, 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.

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.

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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.

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