Hair Removal Products Global Market Report 2024

The hair removal products market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The expansion observed in the historical period can be attributed to the surge in demand for natural and environmentally friendly products, evolving fashion inclinations, heightened awareness concerning personal grooming, higher disposable incomes, and the growing need for hair removal items.

The hair removal products market size is expected to see strong growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. In the forecast period, the growth can be ascribed to the escalating demand for hair removal products, burgeoning online activity on e-commerce platforms, heightened consciousness about personal grooming, increased expenditure on personal care items, and the proliferation of grooming establishments. Noteworthy trends anticipated in the forecast period encompass product adoption, technological advancements and substantial investments, the introduction of innovative product lines, the integration of technology by cosmetic and medical professionals, and the escalating demand for more convenient and effective hair removal solutions.

The hair removal products market is poised for growth driven by the increasing number of grooming businesses. Grooming businesses encompass industries and services providing grooming and personal care for individuals. Hair removal products are in demand due to cultural norms, personal grooming preferences, and aesthetic trends, with individuals seeking smooth skin and hair-free areas for reasons such as hygiene, comfort, and self-confidence. Grooming businesses utilize hair removal products to offer comprehensive services catering to clients' aesthetic preferences and hygiene needs, thereby enhancing the overall grooming experience. For instance, according to a report published by the International SPA Association (ISPA) in April 2024, the US spa business witnessed a notable increase in overall revenue from $18.1 billion in 2021 to $20.1 billion in 2023, reflecting a rise of over 11%. This surge indicates that the growing number of grooming businesses is fueling growth in the hair removal product market.

Key players in the hair removal product market are innovating solutions to meet diverse consumer needs, such as sugaring hair removal products. Sugaring, a natural hair removal method using a paste made from sugar, lemon juice, and water, effectively removes hair and exfoliates the skin. For example, Sugar Sugar Wax, a UK-based company specializing in sugaring hair removal products, introduced Glow Goop in February 2021, a sugar hair remover and exfoliant. Glow Goop, comprising only three natural ingredients - cane sugar, water, and organic lemon juice - is a gentle and eco-friendly alternative to traditional waxes. Unlike conventional waxes, it adheres only to dead skin cells and hair, offering a less painful hair removal experience and reducing skin irritation. Additionally, it acts as an exfoliant, leaving the skin smooth, clean, and revitalized. This dual-action formula reflects Glow Goop's commitment to providing natural, effective, and user-friendly hair removal solutions.

In January 2024, Cynosure and Hahn & Company, a South Korea-based private equity investment firm, merged with Lutronic Corporation to create a global leader in medical aesthetic systems. This merger aims to offer a diversified product portfolio and broader distribution, enhancing customer service and innovation. Lutronic Corporation, based in South Korea, specializes in hair removal products among other medical aesthetic systems.

Major companies operating in the hair removal products market are Reckitt Benckiser Group plc, Braun GmbH, Church & Dwight Co. Inc., Rica Group, Lumenis Be Ltd., Cynosure, American International Industries, Cutera Inc., Alma Lasers, Solta Medical, Fotona D.o.o, Sciton Medical & Aesthetic Laser Technologies, Silkn beauty Ltd., Tria Beauty Inc., Nair, Flamingo, Lynton Lasers, SoftSheen Carson Inc., Sue Ismiel and Daughters, Italwax, Parissa Laboratories Inc., The Darent Wax Company Ltd., Le Club Perron Rigot, Sally Hansen Inc., Starpil Wax Co.

North America was the largest region in the hair removal products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair removal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hair removal products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A substance or device intended for removing unwanted hair from the body constitutes a hair removal product. Their objective lies in achieving smooth skin through the processes of cutting, dissolving, or extracting hair from the follicles. These products find common usage for aesthetic purposes or adhering to cultural norms.

The principal categories within the hair removal products market encompass waxing, creams, electronic devices, and razors. Waxing, for instance, involves applying a sticky substance (wax) onto the skin and swiftly removing it to pull out the hair from its root. These products cater to both men and women and are distributed through various channels such as beauty clinics, dermatology clinics, and other outlets. Their applications extend to areas including the face, body, ears, nose, among others.

The hair removal products market research report is one of a series of new reports that provides hair removal products market statistics, including hair removal products industry global market size, regional shares, competitors with a hair removal products market share, detailed hair removal products market segments, market trends, and opportunities, and any further data you may need to thrive in the hair removal products industry. This hair removal products research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The hair removal products market consists of sales of laser hair removal devices, hair removal sprays, laser hair removal devices, hair inhibitor creams, sugaring kits, and epilators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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