Global Hair Removal Products Market to Expand at a CAGR of 6.3% between 2019 and 2027: Industry Probe industryprobe.com

According to a new market report published by industry Probe (www.industryprobe.com) titled ‘Hair Removal Products Market (Product Type: Cream, Wax [Soft Wax and Hard Wax], Razor, Spray, Gel, and Electronic Devices [Trimmer, Epilator, and Shaver]; End User: Men and Women; Application: Individual and Commercial [Spa and Beauty & Salon]; and Distribution Channel: Online [Company-owned Website, e- Commerce Website] and Offline [Hypermarkets/Supermarkets, Pharmacies, Beauty Salon, and Others]) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global Hair Removal Products Market is expected to reach US$ 38,156.0 Mn by 2027 and expand at a CAGR of 5.7 % from 2019 to 2027.

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As per the report, the global hair removal wax segment was valued at US$ 7,699.6 Mn in 2018 and is expected to expand at a CAGR of 6.3 % from 2019 to 2027. Based on product type, hair removal wax is the most popular hair removal product among end users, owing to their better performance. As waxing removes dry and dead skin cells, along with the unwanted hair. This is not possible in other hair removal techniques such as hair removal creams or shaving. There are a few waxes available, which consists of aloe or butter for moisturizing purpose. Waxing thus improves the skin texture and makes it more beautiful. The report anticipates the rising consumer spending capacity and growing awareness for personal care to drive the hair removal products wax market during the forecast period.
According to the report, rising awareness about the skin benefits of hair removal wax is expected to increase the demand for these products among women and men end users. In addition, improved lifestyle of the people coupled with a rise in disposable incomes, particularly in developing countries, offers immense growth potential for players operating in the hair removal wax market. Inclination of young generation toward natural and organic based products is expected to create huge opportunity for hair removal wax across the world. However, the report also says that the market is also experiencing intense competition due to the presence of new entrants and competitive pricing strategies adopted by players. Pricing strategies of aspirant companies have compelled established players in the market to adopt competitive prices. Lower pricing has reduced the profit margins from products and services.
In terms of wax segment, soft wax is expected to hold large market share, and soft wax market is likely to grow at a faster pace, owing to its ability to adhere to skin more than hard wax and exfoliating skin more. It is able to hold fine hair perfectly and works better on large areas of the body. Additionally, soft wax is much cheaper than hard wax and is less painful for most people. All these factors are expected to increase the market attractiveness of soft wax across the world during the forecast period. China and India are established markets for hair removal wax. Factor such as product innovation, increase in demand for natural ingredients-based skin care products, rise in working women population, and increasing emphasis of the young generation on their appearance are expected to fuel the demand for hair removal wax in the Asia Pacific region during the forecast period.
The Hair Removal Products Market includes several players who are focused on the development of new products to cater to the rising and shifting consumer preferences.
The report includes the below mentioned pointers of major players operating in the Hair Removal Products Market:
o Competition Matrix
o Company Overview
o Market Share Analysis (2018)
o Product Innovation
o Business Strategies/Recent Developments
o Technological advancements
o Key mergers and acquisitions
o Expansion strategies
o Company Financial
Some of the major players operating in the global Hair Removal Products Market featured to give a better competitive analysis of the market include Church and Dwight Co., Inc., American International Industries, Reckitt Benckiser Group plc., Kera-Ban Wax Products, Procter & Gamble, Sally Hansen, Edgewell Personal Care, Perron Rigot, Sue Ismiel and Daughters, and Coloris Cosmetics.
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