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.
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hair removal wax market analysis from 2021 to 2031 to identify the prevailing hair removal wax market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hair removal wax market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hair removal wax market trends, key players, market segments, application areas, and market growth strategies.
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The report provides a detailed and extensive analysis on global Hair Removal Wax Market by Fast.MR Market Research , that can be used to obtain a thorough understanding of the Hair Removal Wax Industry, including the latest developments in the studied market .The report mainly studies the market size of Hair Removal Wax Products/Services, recent trends and status of growth, as well as investment opportunities, market dynamics (such as growth drivers, restraints), and industry news updates (such as mergers, acquisitions, and investments).The efficiency of the product/service will be further optimized by technical advancement and development, making it more broadly used in downstream applications.Our research analysts have carefully examined both the positive and negative factors affecting the Hair Removal Wax Market.
The current pandemic situation of COVID-19 has adversely affected the market, our analysts have covered- up all possible impacts of it that is going to affect the Hair Removal Wax Market during post COVID-19 period.
The qualitative approach which is an exploratory approach and uses activities such as focus groups, in-depth interviews and Ethnographic research – which involves participant observation as part of field research and the quantitative approach uses objective measurements and numerical analysis of data that is collected through research methods such as surveys, polls and questionnaires.Access Sample Report With Detail Analysis COVID -19 @ https://www.fastmr.com/request-s/191Market Segmentation:The research offers a comprehensive analysis of global Hair Removal Wax Market with respect to following sub-markets:The report covers segmentation analysis of Hair Removal Wax Market for better understanding and provides in-depth information on market outlook.
Important segments have been developed and analyzed to facilitate sound business decisions.
Each segment and its sub-segments are evaluated on the basis of their growth prospects, market share and CAGR.
Segments are evaluated considering their regional growth, market share, sales, cost and revenue analysis and other key factors.
