Hair Removal Products Market to Hit USD 4.94 Billion by 2027

Companies involved in hair removal products market include Cynosure, LLC. (Westford, MA, USA), Solta Medical, Inc (Bothell, Washington, USA), Lumenis (Yokne’am Ilit, Tsafon, Israel), Alma Lasers International (Israel), Candela Corporation (Wayland, Massachusetts, USA), Venus Concept (Toronto, Ontario, Canada), Hologic, Inc. (Marlborough, MA, USA), Braun GmbH (Germany), Koninklijke Philips NV, (Amsterdam, Netherlands), Samsung Electronics Co Ltd (Seoul, South Korea), and more players profiled.

Pune, India, November. 23, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global hair removal products market size is expected to exhibit significant growth by reaching USD 4.94 billion by 2027 and exhibit a CAGR of 4.3% between 2020 and 2027. This has led to increasing awareness about personal hygiene among women and men. Postponing the sale of these products worldwide. This information was published by Fortune Business Insights in its latest report, “Hair Removal Products Market, 2020-2027.” The report mentions that the market stood at USD 4.01 billion in 2019 and is likely to gain momentum in the coming years.

COVID-19 boosts online purchases across e-commerce websites

The COVID-19 pandemic has caused people to be confined to their home spaces to have a widespread impact of the novel coronavirus. With salons, barbers and beauty parlors closed due to the lockdown imposed by government agencies, e-commerce websites are experiencing a huge surge in purchases of grooming products. According to Paytm Mall, demand for hair removal products is 50% higher than pre-Covid times. The pandemic situation is expected to bode well for the market growth in the near future.

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Hair removal products market Report Scope and Section:

Report Scope

Details

Forecast period

2020-2027

Forecast CAGR

4.3%

2027 value projection

USD 4.94 billion

Base Year

2019

Hair Removal Products Market Size in 2019

USD 4.01 billion

Historical data

2016-2018

Number of pages

160

Sections included

By product, by gender, by end user, by region

Drivers of Hair Removal Products Market Growth

Increasing awareness about personal grooming is projected to boost market growth

Increasing spending on personal care products to facilitate market growth

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Fortune Business Insights™ lists all hair removal products marketing companies that are currently trying to mitigate the impact of the Covid-19 pandemic on the market:

  • Cynoser, LLC. (Westford, MA, USA)

  • Solta Medical, Inc. (Bothell, Washington, USA)

  • Lumenis (Yokneam Ilit, Tzaphon, Israel)

  • Alma Lasers International (Israel)

  • Candela Corporation (Wayland, Massachusetts, USA)

  • Venus Concept (Toronto, Ontario, Canada)

  • Hologic, Inc. (Marlborough, MA, USA)

  • Braun GmbH (Germany)

  • Koninklijke Phillips NV, (Amsterdam, Netherlands)

  • Samsung Electronics Co. Ltd. (Seoul, South Korea)

Hair removal product is widely adopted to remove unwanted hair on cheeks, legs, back, chin, feet, upper lip and other parts of the body. There are many ways to remove unwanted hair, however, these products are cost-effective and provide excellent results with a soft and shiny shine. Removing unwanted hair is a part of skin care with significant innovations in hair removal technology, such as laser implantation and intense pulse light (IPL) gaining recognition among people around the world.

What does the report include?

The market report includes a detailed assessment of the various drivers and restraints, opportunities, and challenges that the market faces over the projected horizon. Additionally, the report provides comprehensive insights into regional developments in the market, impacting its growth over the forecast period. It contains information obtained by our research analysts on the advice of industry experts using various research methods. The competitive landscape offers more detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by companies to maintain a market stronghold between 2020 and 2027.

Browse the detailed summary of the research report with TOC:

https://www.fortunebusinessinsights.com/hair-removal-products-market-103516

Driving factors

Increasing focus on personal hygiene to promote growth

A hectic lifestyle and increasing stress levels in the working population are increasing the demand for personal care products. Due to the increasing fashion and style among the young population, the adoption of personal grooming products is experiencing tremendous growth among peers to enhance their appearance. The growing trend to maintain personal hygiene and appear attractive among women and men is expected to boost the global hair removal products market in the coming years.

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Partition

Creams segment accounts for 38.28% market share in 2019 owing to its multiple benefits

The product based segment creams accounted for 38.28% market share in 2019 and is likely to experience significant growth due to increasing demand for cream based hair removal products that provide multiple benefits such as effective hair removal and healthy moisturizing. the skin

Regional Insights

Higher female employment rate in Europe to help growth

Among all regions, Europe is expected to hold the highest position in the global hair removal products market at USD 1.45 billion in 2019. This dominance has led to increasing female employment rate, which is driving the growth of these products in the region. The market in Asia-Pacific is expected to experience exponential growth in the coming years. This is attributed to factors such as a young population that is increasing the demand for personal hygiene and grooming products in countries such as India and China.

Reasons to get this reort:

  • Qualitative and quantitative market study based on segmentation that includes financial and non-financial factors

  • Market value data for each segment and sub-segment

  • Indicates a region and market segment that is likely to expand rapidly and dominate the market.

  • Product/service usage in each region is highlighted, as are factors affecting the market within each region.

  • The competitive landscape includes market rankings of top players, along with new service/product launches, collaborations, company expansions and acquisitions made by profiled companies over the past few years.

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Detailed Table of Contents:

TOC continued…!

Competitive landscape

Moom has launched a new men’s hair removal kit to consolidate its market position

In August 2020, MOOM, known for their natural hair removal products, announced the launch of their latest product featuring an advanced sugar wax formula. The company’s new product is a combination of natural products such as lemon juice, sugar, aloe vera, boswellia and chamomile. The product launch is expected to strengthen its product portfolio and gain a competitive edge. Furthermore, adoption of strategies such as mergers and acquisitions, partnerships and collaborations by companies is expected to support the growth of the global hair removal products market during the forecast period.

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Frequently Asked Questions (FAQs):

1. Is the Hair Removal Products Industry Growing?

Answer: The global market size was USD 4.01 billion in 2019 and is expected to reach USD 4.94 billion by 2027, says Fortune Business Insights.

2. Who are the key players in the Hair Removal Products market?

Answer: Hologic, Inc, Koninklijke Philips NV, Braun GmbH, and Bosidin are some of the major players in the global market.

3. What are the key factors driving the market?

Answer: Consciousness of the importance of consumption of personal care products is a major factor driving the growth of the market.

Industrial Development:

  • July 2020: Astanza Laser, a global leader in aesthetic laser technology, introduces a new product for hair removal, the Asclepion MeDioStar laser. According to the company, the new product is manufactured in Germany and has been commercially approved by the FDA for sale.

Check out more related insights from Fortune Business Insights:

Cosmetics Market Size to Hit USD 415.29 Billion by 2028 | The cosmetics industry is hitting a CAGR of 5%

With a CAGR of 5.6%, Hair Care Market to Reach USD 112.97 Billion by 2028 | Increasing adoption among the male population to push the market forward

Hair Removal Products Market Assessment (2021-2028) | 5.3% CAGR to generate revenue of USD 3.43 billion by 2028

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