Hair Removal Products Market Size, Share, Growth, Price Trends and Forecast Report
by Susan Hill Business ConsultantThe
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.
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 in the region.
Further key
findings from the study suggest:
- 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.
Access
full research report on global hair removal products market:
www.grandviewresearch.com/industry-analysis/hair-removal-products-market
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Created on Dec 17th 2019 04:40. Viewed 332 times.