The global hair removal wax market size was US$ 3.0 billion in 2021. The global hair removal wax market size is estimated to reach US$ 6.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2022 to 2030.
Hair removal wax is a product that helps in removing hair from the roots of the human body by using a process called waxing. Hair removal wax can be used on almost any area such as the face, eyebrows, arms, abdomen, intimidate areas, and legs.
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Factors Affecting Market Growth
The rise in demand to maintain a groomed physical appearance by youngsters is the primary factor driving the demand for global market growth.
The increasing standard of living, disposable income, and transforming lifestyles are improving the purchasing power of customers, which is increasing the sale of hair removal wax. Thus, driving the global hair removal wax market growth.
The growing demand for pre-made waxing strips, as people can avoid the hassle of applying and heating wax while removing hair, is forecast to offer lucrative growth opportunities for the global market.
The COVID-19 pandemic is a major factor driving the need for at-home grooming techniques, which results in the rise of the hair removal wax market.
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, the global cosmetic industry saw a sharp slowdown in sales owing to strict government regulations for manufacturers and mass store closures in 2020, and is expected to last through the end of the year. During the pandemic, across several countries, consumers are looking to spend less on cosmetics such as skincare and hair removal products, and more on discretionary products including clothing or footwear. Thus, all these factors had a negative impact on the global market.
Regional Insights
North America is the leading region in the hair removal wax market and is anticipated to maintain its leading position during the forecast period. This is due to the growing consumers interest in grooming along with their high purchasing power which enables them to afford expensive hair removal products hence making North America the key contributor in the global market. Moreover, Asia-Pacific is projected to do the highest growth during the hair removal wax market analysis.
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Leading Competitors
Major Companies leading the hair removal market are:
Marzena Body Care Inc
Church & Dwight Co. Inc. (Nair)
Reckitt Benckiser Group PLC
American International Industries (GIGI)
Sue Ismael
Sally Hansen
Filo Bianco S.R.L
Starpil Wax Co., and Daughters
Cynosure
The Darent Wax Company Ltd
Others
Scope of the Report
The global hair removal market segmentation focuses on Type, Gender, Distribution Channel, and Region.
Segmentation on the basis of types
Soft Wax
Hard Wax
Premade Wax Strips
Segmentation on the basis of Gender
Women
Men
Segmentation on the basis of Distribution Channel
Specialty stores
Online Sales Channel
Hypermarkets Supermarkets
Pharmacies
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Hair Removal Wax market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Hair Removal Wax market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Hair Removal Wax market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Hair Removal Wax business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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