(MENAFN- PR Newswire)
NEW YORK, July 19, 2024 /PRNewswire/ -- The global hair removal wax market size is estimated to grow by USD 375.15 million from 2023-2027, according to
Technavio. The market is estimated to grow at a CAGR of
8.86%
during the forecast period. Benefits of hair removal wax products
is driving market growth,
with a trend towards
increasing demand for pre-made waxing strips. However,
presence of substitutes for hair removal wax
poses a challenge. Key market players include Church and Dwight Co. Inc., Coty Inc., Edgewell Personal Care Co., Fidelgrow Hellas IKE, FILO BIANCO S.r.l., Harley Waxing, Jax Wax Australia Pty Ltd., JOLEN INC., LOreal SA, Marketing Brokers Australia Pty Ltd., MAYSTAR S.L., Parissa Laboratories Inc., Reckitt Benckiser Group Plc, Rica spa, SI and D Aust Pty. Ltd., Thalgo, The Darent Wax Co. Ltd., Xanitalia srl, Harrys Inc., and RDM Care India Pvt. Ltd..
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Technavio has announced its latest market research report titled Global Hair Removal Wax Market 2023-2027
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| Hair Removal Wax Market Scope |
| Report Coverage |
Details |
| Base year |
2022 |
| Historic period |
2017 - 2021 |
| Forecast period |
2023-2027 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 8.86% |
| Market growth 2023-2027 |
USD 375.15 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
7.85 |
| Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
| Performing market contribution |
North America at 31% |
| Key countries |
US, China, Japan, UK, and France |
| Key companies profiled |
Church and Dwight Co. Inc., Coty Inc., Edgewell Personal Care Co., Fidelgrow Hellas IKE, FILO BIANCO S.r.l., Harley Waxing, Jax Wax Australia Pty Ltd., JOLEN INC., LOreal SA, Marketing Brokers Australia Pty Ltd., MAYSTAR S.L., Parissa Laboratories Inc., Reckitt Benckiser Group Plc, Rica spa, SI and D Aust Pty. Ltd., Thalgo, The Darent Wax Co. Ltd., Xanitalia srl, Harrys Inc., and RDM Care India Pvt. Ltd. |
Market Driver
The global hair removal wax market is experiencing significant growth due to the increasing popularity of pre-made waxing strips. These strips offer numerous advantages over traditional hot wax techniques, making them a practical and preferred choice for consumers. Pre-made wax strips are convenient, as they come with wax already applied on strips, eliminating the need for heating and preparation. They are also less messy and cleaner, as users do not have to physically touch the wax. Pre-made wax strips are accessible for home use, providing privacy and saving time and money compared to salon visits. They are beginner-friendly and portable, making them ideal for travel. Pre-made wax strips are often less expensive than multiple salon appointments and come in packs, offering several uses at a reasonable cost. They cater to various skin types, hair textures, and body regions with numerous alternatives available in the market. Key players in the pre-made wax strips market include Veet, Nair, Cirepil, and Epilateurwax. The rising demand for pre-made waxing strips will continue to drive the growth of the global hair removal wax market during the forecast period.
The Hair Removal Wax Market is witnessing significant growth due to increasing trends in waxing as a popular hair removal method. Strip wax and resin wax are the two main types, targeting both root removal and prolonged beauty. The global public, including women and men, seek smooth skin for lifestyle, aesthetic, social, cultural, and even medicinal reasons. Emerging economies, urbanization, and rising middle-class consumers in developing countries fuel market expansion. Working class women, especially, prioritize body hygiene and attractive appearance for workplaces and social engagements. Salons, parlors, commercial establishments, and spas offer various waxing services to cater to this demand. Soft wax and hard wax are popular choices for body and facial hair removal, addressing dead skin cells and unwanted hair. The market is expected to continue growing as awareness of personal hygiene and standard of living improve, along with increasing purchasing power. Overall, the Hair Removal Wax Market is a thriving sector in the cosmetics industry, serving the global population for decades.
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Market
Challenges
The hair removal market offers various options for consumers, each with distinct advantages and disadvantages. Shaving, using razors, is a popular yet temporary solution for hair removal. Depilatory creams, which disintegrate hair, provide a painless alternative but may cause skin irritation and an offensive smell. Epilators, which mechanically remove hair at the root, offer longer-lasting results but can be uncomfortable. Laser hair removal, a semi-permanent solution, is more expensive but provides long-lasting results. Sugaring, a natural alternative to waxing, is a milder option for sensitive skin. Brands like Bombae and Urban Yogi cater to the growing demand for hair removal solutions. Bombae, previously known as Bombay Shaving Company Women, offers a range of personal grooming products and recently introduced a laser hair removal facility. Urban Yogi launched a painless hair removal spray, providing a quick and easy solution for those with sensitive skin. The availability of these alternatives impacts consumer preferences and market dynamics for hair removal. While these substitutes may hinder the growth of the global hair removal wax market, they cater to diverse consumer needs and preferences. Companies must adapt to these trends to remain competitive in the market.
The Hair Removal Wax Market faces challenges in providing less irritating and more effective waxing products for various skin types. Warm waxing, using paper strips or hot wax, remains popular for its ultra-smooth finish and long-lasting effect. Brazilian waxing, once considered taboo, has gained acceptance in beauty routines for the bikini area and face. Top competitors offer new wax products with unique fragrances, colors, and flavors, as well as soft wax strips and natural ingredients. Epilators, electrical devices, laser, and home waxing kits are alternative options. The commercial segment includes spas, salons, and living standards influencing self-care trends among individuals. Home waxing kits are available at beauty stores, supermarkets, and convenience stores. However, acceptance of Brazilian waxing and new wax products varies, requiring continuous innovation and education.
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Segment Overview
This hair removal wax market report extensively covers market segmentation by
Distribution Channel
Product Type
2.1 Hard wax
2.2 Pre made wax strip
2.3 Soft wax
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 Middle East and Africa
3.5 South America
1.1 Offline-
The hair removal wax market encompasses both offline and online sales channels. Offline sales, which include purchases made in physical retail stores, account for a significant portion of the industry. Consummers prefer this segment due to the ability to physically engage with products, inspect packaging, and receive guidance from store employees. Brands strategically place their goods in retail locations based on local consumer preferences and demographics, increasing product visibility and brand awareness. Retailers and brands collaborate to promote in-store sales through eye-catching displays, strategic positioning, and promotions. In-store events, such as workshops and demonstrations, provide opportunities for consumers to learn about proper waxing techniques and product advantages. Environmentally-conscious brands use eco-friendly packaging and materials to appeal to customers. In October 2022, Looks, a prominent salon chain, will expand its presence with over 170 branches in more than 40 cities, further solidifying the dominance of offline sales in the hair removal wax market. Brands can maximize offline sales by effectively utilizing retail partnerships, appealing store designs, and targeted product placement. This approach will contribute to the growth of the global hair removal wax market in the offline segment during the forecast period.
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Research Analysis
The Hair Removal Wax Market has witnessed significant growth in recent years, driven by the beauty-conscious female population and female working professionals. The market is fueled by the desire for prolonged beauty and convenience-oriented lifestyles. Waxing, using roots like resin, has emerged as a popular hair removal method due to its long-lasting results. Skin-friendly waxes and cloth strips ensure minimal irritation and pain. Emerging economies, urbanization, and middle-class consumers in these regions are increasingly adopting this practice. Awareness about personal body hygiene and the standard of living have also contributed to the market's growth. Commercial salons, parlors, spas, and workplaces offer waxing services to cater to the demands of working class women. The purchasing power of consumers and women empowerment have further boosted the market.
Market Research Overview
Hair removal waxing has been a popular method for achieving smooth and attractive physical appearances for decades. The market for hair removal wax has seen significant growth due to various factors, including increasing awareness of personal hygiene and body care, urbanization, and the rising purchasing power of middle-class consumers in emerging economies. Both men and women seek temporary and permanent hair removal solutions for body and facial hair, driven by lifestyle changes, aesthetic reasons, cultural norms, and even medicinal needs. Waxing techniques include strip wax, which uses cloth strips, and resin wax, which is applied without strips. Soft wax and hard wax are the two main types, with the latter being more effective for removing shorter hairs and providing a longer-lasting effect. The global public's acceptance of Brazilian waxing, particularly in commercial salons, spas, and parlors, has contributed to the market's growth. Consumer purchasing power, lifestyle, and personal hygiene awareness have led to the development of less irritating and more effective waxing products. New wax products offer unique fragrances, warm waxing, and popular waxing procedures like Brazilian waxing for the sensitive parts of the body. The market caters to various client budgets, with options for home use and professional salon services. Working class women, youngsters, and men are increasingly embracing modern beauty standards, leading to the popularity of hair removal wax among diverse demographics. The market for hair removal wax continues to evolve, with new competitors and innovations emerging to meet the evolving needs and preferences of the global consumer base.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Distribution Channel
Product Type
Hard Wax
Pre Made Wax Strip
Soft Wax
Geography
North America
Europe
APAC
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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