A hair removal product is widely used to eliminate unwanted hair from areas such as cheeks, legs, back, chin, feet, upper lip, and other parts of the body. While there are various hair removal methods available, these products offer the most cost-effective solutions that leave the skin soft and radiant. Hair removal has become an essential part of skincare routines, especially with innovative technologies in hair removal technology, including laser treatments and intense pulsed light (IPL), which have gained global popularity for their efficiency and skin-friendly results.
The fast-paced lifestyle and increasing stress levels among the working population are driving the demand for personal care and grooming products. With rising fashion consciousness and style awareness among young consumers, the adoption of hair removal and other grooming products is witnessing robust growth. The growing emphasis on personal hygiene and the desire to maintain an attractive appearance among both women and men are key factors propelling the global hair removal products market.
Technological advancements in hair removal solutions, such as the integration of natural ingredients with advanced formulas, are transforming the market landscape. For instance, new product launches focusing on organic and skin-friendly components are attracting eco-conscious consumers. Moreover, the ongoing innovation in painless and long-lasting hair removal techniques is encouraging more users to adopt these products regularly, enhancing market expansion worldwide.
COVID-19 Surges Online Purchases Across E-commerce Platforms
The COVID-19 pandemic led to widespread lockdowns and salon closures, keeping consumers confined to their homes and prompting a surge in online purchases of grooming products. E-commerce platforms have witnessed significant growth in hair removal product sales. According to recent data from Paytm Mall, demand for hair removal items increased by over 50% compared to pre-pandemic levels. This shift towards online shopping has accelerated market growth and is expected to sustain momentum as consumers continue prioritizing convenient personal grooming solutions.
The global hair removal products market is projected to reach USD 5.3 billion by 2027, growing at a compound annual growth rate (CAGR) of approximately 4.5% between 2021 and 2027. This growth is largely ascribed to rising awareness regarding personal hygiene and grooming habits across genders worldwide, which continues to drive increased product adoption.
According to the latest industry report titled, “Hair Removal Products Industry Size, Share & COVID-19 Impact Analysis, By Product (Creams, Ready-to-use Wax Strips, Electronic Devices, and Razors), Gender (Men and Women), End User (Dermatology Clinics and Beauty Clinics), and Regional Forecast, 2020-2027,” the industry stood at USD 4.2 billion in 2021 and is expected to gain further traction in the coming years.
The cream segment held an industry share of 38.5% in 2021 and is anticipated to experience substantial growth due to the increasing preference for cream-based hair removal products that provide not only effective hair removal but also skin moisturizing benefits.
High Women Employment Rate in Europe Drives Market Growth
Europe led the global hair removal products market with a valuation of USD 1.6 billion in 2021 and continues to dominate due to increasing female workforce participation that fuels demand for personal care products. The Asia-Pacific region is also projected to experience exponential growth, driven by a growing youth population and heightened awareness around personal hygiene in countries like India and China, supporting the expansion of the hair removal products market.
Moom Launches New Hair Removal Men Kit to Strengthen Market Position
In August 2023, MOOM, a renowned brand for natural hair removal solutions, announced the launch of its advanced sugar wax formula kit for men. This innovative product blends natural ingredients including lemon juice, sugar, aloe vera, boswellia, and chamomile to deliver effective hair removal with skin-soothing benefits. The new launch expands MOOM’s product portfolio and is expected to enhance its competitive edge in the global market. Additionally, strategic initiatives such as mergers, acquisitions, partnerships, and collaborations among leading companies are projected to accelerate industry growth during the forecast period.
Global Industry Developments
- July 2023: Astanza Laser, a leader in aesthetic laser technology, introduced the Asclepion MeDioStar laser for hair removal. Manufactured in Germany, this advanced product has received FDA approval and is commercially available, reinforcing technological innovation in the industry.
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