| A06452 | Pages: 246 | Jun 2022 | 3456 Views | ||
| Author(s) : Chetan Pathak , Roshan Deshmukh | Tables: 157 | Charts: 53 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Hair Removal Wax Market
Request Now !The global hair removal wax market size was valued at $3.0 billion in 2021, and is projected to reach $6.5 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
The COVID-19 outbreak has impacted almost all the industries either positively or negatively. It has increased the sales for food, medical, and necessity products. It has hampered the supply and demand for lifestyle products. The COVID-19 virus spread across the world has proved to be a growth driver for daily essentials and hygiene & health products. The hair removal wax market witnessed a significant spike in its growth as it is also included in hygiene products. However, due to the lockdown scenario, supply chain and production of wax products have been hindered creating scarcity of the products in the economy. To survive in the post COVID-19 situation, companies have to identify new opportunities, challenges, and emerging trends in the related industries to modify their products or change their positioning of brand accordingly, so that they can cater to new needs of the customers or are able to stimulate demand for their brands.
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The hair removal wax market is segmented into Type, Gender and Distribution Channel.
Hair removal wax is used in waxing, which is a process of removing unwanted hair from the roots. Wax is a sticky substance applied on the skin and adheres to the body hair. And by pulling this covering, hair is removed from the follicle. Hair removal wax is a semi-permanent solution for removing unwanted hair. Hair does not grow at the previously waxed area for two to eight weeks. Although in some users, regrowth of hair starts in a week. Hair removal wax can be used almost at any area such as eyebrow, face, arm, intimate area, abdomen, and feet. A thin layer of wax is spread over the skin. And then a paper or a cloth strip is pressed on that layer of wax. After that the cloth or the paper strip is ripped off in the direction of hair growth. This removes hair along with the wax.
Improvement in economic environment, surge in ageing population, and increase in disposable incomes are the key drivers and hair removal wax market trends of the market. Lack of awareness regarding products is a key restraint for the market. The hair removal wax industry is gradually moving toward maturity in the developed economies, which is expected to drive the hair removal wax market growth.
The hair removal wax market is segmented on the basis of type, distribution channel, gender and region. On the basis of type, the market is divided into pre-made wax strips, soft wax and hard wax. By gender, it is divided bifurcated men and women. On the basis of distribution channel, it is categorized into hypermarkets/supermarkets, specialty stores, pharmacies, online sales channels, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
According to hair removal wax market analysis, by product type, the market is primarily segmented into hard wax, soft wax and pre-made wax strips. Soft wax held around 52.7% share of the global hair removal wax market in 2021, followed by hard wax accounting for approximately 32% of the hair removal wax market share.
Based on the gender the market is segmented into women and men, the women segment holds the maximum market share in the global market. However the men segment is expected to grow at highest CAGR.
Based on distribution channel market is segmented into hypermarkets/supermarkets, specialty stores, pharmacies, online sales channels, and others. Hypermarkets/supermarkets holds the maximum market share in 2021, owing to availability of a broad range of consumer goods under a single roof, with ample parking space and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing boost popularity of hypermarkets in developed and developing regions. Furthermore, these stores offer variety of brands in a particular product category, offering more options for consumers to buy cosmetics products of their choice.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the leading region in the hair removal wax market demand and is expected to retain its leadership position throughout the forecast period. Europe is anticipated to be the second largest revenue contributor followed by Asia-Pacific. However, Asia-Pacific is projected to grow at the fastest CAGR of 10.0% during the hair removal wax market forecast period.
Key companies profiled in this report include American International Industries (GIGI), Church & Dwight Co., Inc. (Nair), Filo Bianco S.R.L, MarzenaBodyCare, Inc., Reckitt Benckiser Group PLC (Veet), Rica Group, Sally Hansen, Starpil Wax Co., Sue Ismiel and Daughters, and The Darent Wax Company Ltd.
Key Market Segments
Key Market Players
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According to perspective of top-level CXOs, innovation is the key for growth of the personal care and grooming industry, in terms of value sales. CXOs further added that rise in consciousness regarding physical appearance among individuals as well as working class professionals propels the growth of the hair removal wax market. The industry has recently observed an emerging trend of men using such grooming products. Use of hair removal wax by men is expected to eventually increase and in turn supplement the growth of the global hair removal wax market.
Constant improvement in the economic environment, surge in ageing population, and increase in disposable incomes are some of the key drivers of this market. Lack of awareness regarding products is the key restraint for the market.
Men are now, more than ever, deeply invested in the personal care products and associated categories, owing to the advent of large advertising along with the proliferation of retail sales. Furthermore, continuous product innovation, widespread promotion and advertising along with social media marketing have resulted in increased adoption of personal care products in the last few years.
A. The global hair removal wax market size was valued at $2,964.90 million in 2021, and is projected to reach $6,487.20 million by 2031.
A. Hair removal wax market is expected to grow at CAGR of 8.2% during forecast period.
A. Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options.
A. The hair removal wax market forecasted during 2022-2031.
A. American International Industries (GIGI), Church & Dwight Co., Inc. (Nair), Filo Bianco S.R.L, MarzenaBodyCare, Inc., Reckitt Benckiser Group PLC (Veet), Rica Group, Sally Hansen, Starpil Wax Co., Sue Ismiel and Daughters, and The Darent Wax Company Ltd.
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