The market for hair removal products is expected to reach $4.94 billion by 2027

The companies covered by the hair removal products market are 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, The Netherlands), Samsung Electronics Co Ltd (Seoul, South Korea), and others profiled players.

Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) — Second Fortune Business Insights™, the global hair removal products market size is projected to show significant growth reaching USD 4.94 billion by 2027 while exhibiting a CAGR of 4.3% between 2020 and 2027. This is attributable to the growing awareness of personal hygiene among women and men which is driving the sales of these products worldwide. This information is published by Fortune Business Insights, in its latest report, titled, “Hair Removal Products Market, 2020-2027.” The report also mentions that the market stood at $4.01 billion in 2019 and is likely to gain momentum in the coming years.

COVID-19 increases online purchases on e-commerce sites

The COVID-19 pandemic has resulted in people being confined to their home spaces to contain the widespread effect of the novel coronavirus. With the closure of salons, barber shops and beauty salons due to the lockdown imposed by government agencies, e-commerce sites are experiencing a surge in the purchase of grooming products. According to the Paytm Mall, the demand for hair removal products has increased by 50% more than in pre-COVID times. The pandemic situation should bode well for the growth of the market in the near future.

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Hair removal products market Scope and segmentation of the report:

Report coverage

Details

Forecast period

2020-2027

CAGR forecast

4.3%

Value projection 2027

USD 4.94 billion

Reference year

2019

Hair Removal Products Market Size in 2019

USD 4.01 billion

Historical data

2016-2018

no. or pages

160

Segments covered

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

Hair Removal Products market growth driver

The growing awareness of personal care is expected to drive the growth of the market

Increase spending on personal care products to drive market growth

Fortune Business Insights™ lists all of the Hair Removal Products market companies currently trying to reduce the impact of the Covid-19 pandemic on the market:

  • Cynosure, LLC. (Westford, Massachusetts, USA)

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

  • Lumenis (Yokne’am Ilit, Tsaphon, Israel)

  • Alma Lasers International (Israel)

  • Candela Corporation (Wayland, Massachusetts, USA)

  • Venus Concept (Toronto, Ontario, Canada)

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

  • Braun GmbH (Germany)

  • Royal Philips NV, (Amsterdam, The Netherlands)

  • Samsung Electronics Co Ltd (Seoul, South Korea)

A hair remover is widely adopted to remove unwanted hair on cheeks, legs, back, chin, feet, upper lip and other body parts. There are several methods to remove unwanted hair, however, these products provide the best results that are affordable and leave your skin with a soft, lustrous glow. The removal of unwanted hair has become part of the skin care regimen with notable innovations in hair removal technology such as the adoption of laser and Intense Pulsed Light (IPL) gaining recognition among people across the globe.

What does the report include?

The market report includes a detailed assessment of various drivers and restraints, opportunities, and challenges faced by the market during the projected horizon. Furthermore, the report provides comprehensive insights into regional developments of the market, influencing its growth during the forecast period. It includes insights from expert industry professionals consulting by our research analysts using a variety of research methodologies. The competitive landscape offers further detailed insights into strategies like product launches, partnerships and collaboration acquisitions and mergers adopted by the companies to maintain the market stronghold between 2020 and 2027.

Browse Detailed Research Report Summary with TOC:

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

DRIVING FACTORS

Increase attention to personal hygiene to promote growth

Fast-paced lifestyles and rising levels of stress among the working population are driving the demand for personal care products. Due to the rise in fashion and style among the young population, the adoption of personal care products is experiencing tremendous growth to enhance one’s appearance among peers. The growing trend of maintaining personal hygiene and looking attractive among both women and men is expected to drive the global hair removal products market in the coming years.

SEGMENTATION

The creams segment held 38.28% market share in 2019 due to its multiple benefits

The creams segment, on a product basis, held a market share of 38.28% in 2019 and is likely to experience significant growth due to the growing demand for cream-based hair removal products that offer multiple benefits such as a It is effective hair removal and healthy skin hydration.

REGIONAL INSIGHTS

High female employment rate in Europe to foster growth

Among all regions, Europe stood at USD 1.45 billion in 2019 and is expected to hold the top position in the global hair removal products market. This dominance is attributable to the increase in the female employment rate which is driving the growth of these products in the region. The Asia-Pacific market is expected to experience exponential growth in the coming years. This is due to factors such as the increase in the youth population driving the demand for hygiene and personal care products in countries such as India and China.

Reasons to get this report:

  • A qualitative and quantitative market study based on segmentation that includes economic and non-economic factors

  • Market value data for each section and sub-segment

  • Indicates the region and market segment that is likely to grow fastest and dominate the market.

  • The consumption of the product/service in each region is highlighted, as well as the factors influencing the market within each region.

  • The competitive landscape includes market rankings of top players as well as new service/product launches, partnerships, business expansions and acquisitions made by the profiled companies in recent years.

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Detailed index of contents:

Table of Contents Continue…!

COMPETITIVE LANDSCAPE

Moom launches the new men’s hair removal kit to consolidate its market position

In August 2020, MOOM, a well-known brand known for its natural hair removal products, announced the launch of its latest product which contains 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, the adoption of strategies such as mergers and acquisitions, partnerships and collaboration by the companies is expected to drive the growth of the global hair removal products market during the forecast period.

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Frequently Asked Questions (FAQ):

1. Is the Hair Removal Products Industry Growing?

Reply: Fortune Business Insights says the global market size was $4.01 billion in 2019 and is projected to reach $4.94 billion by 2027.

2. Who are the Major players in the Hair Removal Products Market?

Reply: 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 up the market?

Reply: The growing awareness of the importance of using personal care products is the major factor driving the growth of the market.

Industry development:

  • July 2020: Astanza Laser, a global leader in aesthetic laser technology, has introduced a new hair removal product, 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 Reached $415.29 Billion by 2028 | Cosmetics Industry CAGR Impressive at 5%

At 5.6% CAGR, Hair Care Market To Reach $112.97 Billion By 2028 | Increase adoption among the male population to advance the market

Hair Removal Products Market Assessment (2021-2028) | CAGR of 5.3% to Generate Revenue of $3.43 Billion by 2028

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