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The Global Hair Removal Wax Market size is expected to reach $4.5 billion by 2028, rising at a market growth of 7.9% CAGR during the forecast period
Waxing is a method of removing unwanted hair from the roots, using hair removal wax. When applied to the skin, wax is a sticky substance that sticks to body hair. The hair from the follicle is removed by pulling on its covering.
New York, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Hair Removal Wax Market Size, Share & Industry Trends Analysis Report By Gender, By Type, By Distribution Channel, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06315017/?utm_source=GNW
Wax for hair removal is a semi-permanent way to get rid of unwanted hair. For two to eight weeks after waxing, hair does not grow in that area. Nevertheless, in some people, hair regrowth begins within a week. Almost any place can be treated with hair removal wax, including the brow, arm, face, abdomen, intimate area, and feet. The skin has a thin layer of wax applied to it. After that, a paper or fabric strip is pushed onto the wax layer. The strip of paper or fabric is then torn off in the direction of hair growth. Hair and wax are both removed in this way.
The three main market trends and drivers for hair removal wax are an improving economy, rapid ageing of the population, and rising disposable income. The hair removal wax market is anticipated to rise as the hair removal wax business gradually matures in developed economies. The market for hair removal wax has grown as a result of consumers’ increased purchasing power, especially among women, who are now able to afford some luxuries like visiting a salon for wax hair removal. Additionally, the increase in the proportion of working women has promoted market growth.
One of the most widely used waxing techniques now on the market is warm waxing. A paper strip is used to help remove the hair after the warm wax has been applied to the body. Sometimes people confuse warm wax with hot wax, which is applied to the body before cooling and setting on the skin. Depending on their skin type, many people prefer the wax since it removes hair directly from the skin. The most popular technique is waxing because it produces a long-lasting result & an incredibly smooth finish. Over the forecast period, the market for hair removal wax is estimated to grow as a result of various waxing techniques and their lasting benefits.
COVID-19 Impact Analysis
Almost all industries have been affected by the COVID-19 pandemic, either favorably or unfavorably. Sales of necessities like food, medicine, & healthcare equipment have surged. The supply & demand of lifestyle goods has been impeded. Daily necessities as well as cleanliness and health items have seen growth as a result of the COVID-19 virus spreading over the world. Since wax for hair removal is now a part of hygiene goods, the market for those items has seen a considerable uptick in growth. However, the lockdown situation has hampered wax product production as well as the supply chain, leading to a shortage of goods in the market.
Market Growth Factors
Changing Lifestyles Would Surge The Product Demand
The demand for hair removal waxing products is mostly driven by the need to preserve a well-groomed physical appearance. Consumers’ purchasing power is increasing as a result of changing lifestyles, rising standards of living, and increasing spendable income. This has an impact on customer expenditure on hair removal services at salons or spas. Many professional spas & salons purchase hair removal products. In the near future, this is predicted to have a continuous impact on the market for hair removal wax.
Growing Demand For Ready-To-Use Wax Strips
Ready-to-use waxing strips are a hair removal method that already has wax on them, saving the inconvenience of having to heat and apply wax while removing hair. In the long term, pre-made wax strips are more effective. For the majority of body parts, including the bikini area, face, underarms, & legs, pre-made wax strips are preferred because they are available in a range of sizes and forms. These cold wax strips may rapidly & easily remove hair from large areas when used at home.
Market Restraining Factors
Access To Alternative Products
Due to rising customer choice, non-invasive and non-surgical methods of hair removal are becoming more and more popular. Alternatives to waxing include shaving, lotions, and laser-based hair removal techniques because they are less painful and also don’t cause skin irritation or abrasions. In order to remove unwanted hair, both men and women utilize shaving techniques such as razors and hair removal creams because they are less expensive and simpler to use. This is considered to be a significant factor that can restrain the growth of the hair removal wax market.
Type Outlook
On the basis of type, the hair removal wax market is segmented into hard wax, soft wax & premade wax strips. The soft wax segment dominated the hair removal wax market in 2021 with the maximum revenue share. Soft wax can be used on larger areas such as legs, back and arms. The main factor responsible for surging the demand for soft wax is that it is comparatively more affordable than hard wax. Also, soft wax can be used even in low temperature which is further supporting the market expansion in this segment.
Gender Outlook
By gender, the hair removal wax market is divided into female & male. The male segment covered a substantial revenue share in the hair removal market in 2021. The use of the product is increased by the adoption of hair removal wax by the male population of the world. Also, the fashion trends that encourage less hair on men’s bodies gain more recognition, due to which the men’s market is increasingly showing signs of good growth.
Distribution Channels Outlook
Based on distribution channels, the hair removal wax market is classified into hypermarkets/ supermarkets, specialty stores, pharmacies, online sales channels & others. In 2021, the specialty stores segment procured a substantial revenue share in the hair removal wax market. A specialty store is a business that sells a wide variety of brands, designs, or products from a small range of product categories. The sale of hair removal wax from specialty stores is growing because of the availability of a wide range of products.
Regional Outlook
Region-wise, the hair removal wax market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region witnessed the largest revenue share in the hair removal wax market. Due to advancements in hair removal techniques, North America is anticipated to have a high demand for hair removal wax. This region is home to Hollywood, the center of the entertainment industry, making it a crucial market for such kinds of products. Hollywood has a significant role in promoting standards of beauty both domestically and overseas, in addition to acting as a consumer.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Church & Dwight Co., Inc., American International Group, Inc., Reckitt Benckiser Group PLC, Coty, Inc., SI&D (Aust) Pty Ltd, The Darent Wax Company Ltd., Starpil Wax Co., Rica Group, Marzena Bodycare Australasia, and Filo Bianco S.r.l.
Scope of the Study
Market Segments covered in the Report:
By Gender
• Female
• Male
By Type
• Soft Wax
• Hard Wax
• Premade Wax Strips
By Distribution Channel
• Hypermarkets/ Supermarkets
• Specialty Stores
• Pharmacies
• Online Sales Channel
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Church & Dwight Co., Inc.
• American International Group, Inc.
• Reckitt Benckiser Group PLC
• Coty, Inc.
• SI&D (Aust) Pty Ltd
• The Darent Wax Company Ltd.
• Starpil Wax Co.
• Rica Group
• Marzena Bodycare Australasia
• Filo Bianco S.r.l.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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