The global hair removal products market size is expected to reach USD 3.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Growing awareness about personal grooming, rise in consumer disposable income, increased spending on personal care products, and enhanced aesthetic appeal are some of the factors contributing to the market growth.
Increasing acceptance of hair removal products among men is also one of the significant factors driving the market. As per the recent trends, a large number of men are indulging in various grooming activities, including hair removal. Furthermore, emerging trend of metrosexual culture has been driving the companies to introduce hair removal products suitable for men. For instance, Emjoi offers Emagine Epilator especially for men. This device is equipped with 72 tweezers, along with shaving and trimming attachments, which makes it a multi-purpose equipment.
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Electronic devices are expected to register the fastest CAGR of 6.0% over the forecast period. Increasing consumer demand for hassle free grooming products, coupled with technological advancement in every field, is expected to spur up the sales of electronic devices for hair removal such as epilators. Owing to increasing demand for quick fix solutions among men and women, companies are focusing on introducing separate devices for both, considering the nature of their skin.
For instance, Braun Silk Epil 9, 7, and Philips Satinelle are some of the epilators specially designed for men. Epilators have been gaining an increasing traction owing to growing demand for quick fix grooming solutions, especially among working women. For instance, Emjoi Soft Caress Epilator equipped with 36 tweezers enables quick hair removal solution.
The men end user segment is expected to expand at a CAGR of 5.8% over the forecast period. Application of hair removal products is gaining significant popularity among men, which, in turn, is anticipated to drive the global market over the forecast period. Growing trend of metro sexuality and desire to maintain personal hygiene and grooming habits are some of the factors expected to pull up the growth of the global hair removal products market over the forecast period. Women are expected to dominate the global market on account of rising number of working professionals who opt for frequent grooming solutions and increasing product launches by the companies to cater to different skin types. For instance, Veet by Reckitt Benckiser offers hair removal creams for normal, sensitive, and dry skin.
Online retail is expected to be the fastest growing distribution channel with a CAGR of 6.1% in the next few years. Rising penetration of e-commerce platforms and smart devices such as mobile phones and tablets, along with benefits like easy payment options and discounts, are the key factors contributing to the growth of this market. Moreover, increasing preference for online shopping is compelling the manufacturers to offer their products through various online channels such as Nykaa, bigbasket, and Amazon in order to cater to the vast consumer base.
North America held the largest share of 30.8% in 2018. Factors such as high spending on personal grooming, increasing penetration of electronic device, and increased concerns over hygiene among men and women are some of the factors that have been driving the market im the region.
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Hair Removal Products Market Report Highlights
• By type, electronic devices are expected to expand at the fastest CAGR of 6.0% from 2019 to 2025 due to increasing demand for hassle free and quick grooming options
• The men end user segment in hair removal products market is expected to witness significant growth in the next few years due to rising awareness of grooming and hygiene
• Online retail is expected to register the fastest CAGR of 6.1% from 2019 to 2025
• APAC is expected to witness the fastest growth owing to increasing number of working women looking for quick hair removal solutions, changing living standards, and rising disposable income.
Hair Removal Products Market Segmentation
Grand View Research has segmented the global hair removal products market on the basis of type, end user, distribution channel, and region:
Hair Removal Products Type Outlook (Revenue, USD Million, 2015 - 2025)
• Creams
• Ready-to-use Wax Strips
• Electronic Devices
• Razors
Hair Removal Products End User Outlook (Revenue, USD Million, 2015 - 2025)
• Men
• Women
Hair Removal Products Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Supermarkets & Hypermarkets
• Drugstores
• Convenience Stores
• Online
Hair Removal Products Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.