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The hair removal wax market size is estimated to grow at a CAGR of 8.86% between 2022 and 2027. The market size is forecast to increase by USD 375.15 million.
This hair removal wax market report extensively covers market segmentation by distribution channel (offline and online), Product type (hard wax, pre-made wax strip, and soft wax), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The benefits of hair removal wax products is the key factor driving the growth of the market. Waxing is considered as one of the fastest ways to get rid of unwanted hairs in a longer time and the demand for waxing products comes from women of all ages. The benefits of hair removal have many advantages that make consumers choose hair removal. Waxing removes hair from the root, leaving behind an extremely smooth coat. The accumulation of dead cells and dirt on the skin can cause breakouts, blemishes, and dryness. These elements can be removed using depilatory wax. Waxing soothes the skin, preventing skin inflammation caused by irritation when shaving. Such benefits of hair removal wax will drive the adoption of hair removal wax products which, in turn, will drive the growth of the global hair removal wax market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Increasing demand for pre-made waxing strips is the primary trend in the market. Pre-made wax strips are designed for quick and easy application. It comes with a strip of wax already applied so don't have to heat and prepare the wax. The convenience is especially appealing for those with busy schedules or those looking for a quick hair removal solution. In general, premade wax strips are less messy than traditional hot wax technology. Consumers don't have to deal with sticky wax, making the process easier and cleaner
Furthermore, pre-made wax strips take into account that the wax does not need to be heated. There are many ready-made wax strip alternatives on the market for different skin types, hair textures, and body areas. This diversity allows customers to choose products that meet their individual requirements. Veet, Nair, Cirepil, and Epilateurwax are some of the major players in the pre-made wax strip market. Hence, rising demand for pre-made wax strips will fuel the growth of the market during the forecast period.
The high cost of hair removal waxing is a challenge that affects the growth of the market. Waxing is a temporary hair removal technique. Therefore, regular care is necessary to keep the skin smooth. Some customers may be hesitant to choose waxing as their primary method due to the cumulative cost of repeated waxing appointments. Additionally, salons and spas that offer waxing services should purchase the highest quality waxing equipment and supplies. The price of these consumables, along with associated hygiene measures, can impact a company's total cost of product.
Furthermore, waxing competes with many other hair removal techniques, some of which are initially cheaper. This competition can make waxing services less attractive to businesses that want to attract and retain customers. Consumer behavior can be influenced by economic changes. Changes in demand can affect companies that provide waxing services, making it difficult to maintain a stable customer base. Therefore, the high cost associated with the hair removal waxing process will impede the growth of the market during the forecast period.
The hard wax segment is a major feature of the global hair removal wax market. Hard wax, commonly referred to as streakless wax, is a type of wax that is applied to the skin, allowed to cool, and then removed without the use of wax strips. To enhance the waxing experience and provide additional skincare benefits, the Hard Wax segment has continued to evolve its formulas, fragrances, and additional compounds. Therefore, the benefits of hard wax will increase the demand for hair removal wax products, which will drive the growth of the global hair removal wax market during the forecast period.
Another important category in the global depilatory wax market is pre-made wax strips. The pre-made segment is growing in popularity due to its ease of use, accessibility, and suitability for home use. Pre-made wax strips effectively remove hair from the roots, leaving a smooth finish that lasts for weeks. Some companies in this market segment may place greater focus on the use of raw materials that cater to consumer preferences for eco-friendly natural products and sustainable packaging. Thus, the ease of use and sustainability of ready-made wax strips will create demand for pre-made wax strip products, which will drive the growth of the global hair removal wax market in this segment during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Consumers can also touch products when shopping offline, inspect the packaging, and even ask store associates for advice before making a purchase. Hair removal wax is readily available over the counter for those who prefer to get the product sooner rather than waiting for it to be shipped. Based on local consumer preferences and demographics, brands can target products at specific storefronts.
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The offline segment was valued at USD 425.75 million in 2017 and continued to grow until 2021. Brands may hold workshops and other events at retail stores to inform customers about proper waxing techniques and product benefits. To appeal to environmentally conscious customers, retailers and businesses are increasingly using eco-friendly packaging and materials. Retailers are developing engaging stores that provide an immersive shopping environment and enhance the overall shopping experience. This will propel the growth of the growth of the global hair removal wax market in the offline segment during the forecast period.
The online sales segment of the hair removal wax market is gaining attention due to the increasing influence of e-commerce and changing customer purchasing preferences. The convenience of online shopping and home delivery has contributed to the development of the online retail sector. The online store makes it easy to research and purchase hair removal wax products from the comfort of your own home. Wax removal products are growing in popularity as subscription services that allow customers to conveniently and frequently deliver and become more popular. Thus, such factors drive the growth of the segment during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing trend towards grooming is one of the main factors driving the increased demand for waxing products. Rising disposable income, improving living standards, and more women working are increasing the purchasing power of consumers. These factors have increased consumer spending on hair removal treatments in salons and spas.
Moreover, the growing demand for home waxing depilatory technology from the youth and adult population is expected to drive the growth of the market in the future. Younger generations are using wax products instead of creams and razors that can irritate their skin. Market players launch new wax products for hair removal. Thus, such factors are expected to drive the growth of the regional wax removal market during the forecast period.
The outbreak of COVID-19 in 2020, negatively impacted the market in North America. However, the demand for at-home hair removal waxing products increased through e-commerce platforms. Moreover, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of operations in salons and spas, which raised the demand for hair removal wax products in the region. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The hair removal wax market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hair Removal Wax Market Customer Landscape
The hair removal wax market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Hair Removal Wax Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.86% |
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Market growth 2023-2027 |
USD 375.15 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.85 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 31% |
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Key countries |
US, China, Japan, UK, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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