Global Hair Removal Products Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
A hair removal product is any substance or device designed to remove unwanted hair from the body. Their purpose is to achieve smooth skin by either cutting, dissolving, or pulling out hair from the follicles. Hair removal products are commonly used for aesthetic reasons or cultural norms.

Sizing and Forecast
The hair removal products market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the historic period can be attributed to increase in demand for natural and eco-friendly products, changing fashion trends, rise in awareness about personal grooming, increase in disposable incomes, demand for hair removal products.

The hair removal products market size is expected to see strong growth in the next few years. It will grow to $5.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.  The growth in the forecast period can be attributed to the rising demand for these products of hair removal, surging traffic on e-commerce sites, increasing awareness regarding personal grooming, increasing spending on personal care products, the rising number of grooming businesses. Major trends in the forecast period include the adoption of the product, advancement and huge investments, introducing innovative products, technology adopted by cosmetic and medical experts, rise in need for easier and more efficient hair removal method.

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Segmentation & Regional Insights
The hair removal products market covered in this report is segmented –
1) By Product: Waxing, Creams, Electronic Device, Razor
2) By Gender: Men, Women
3) By Distribution Channel: Beauty Clinics, Dermatology Clinics, Other Distribution Channels
4) By Application: Face, Body, Ear, Nose, Other Applications

North America was the largest region in the hair removal products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair removal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising number of grooming businesses is expected to drive the growth of the hair removal products market going forward. The grooming business refers to industries and services that provide grooming and personal care for individuals. There is demand for hair removal products due to cultural norms, personal grooming preferences, and aesthetic trends, as individuals seek smooth skin and hair-free areas for reasons such as hygiene, comfort, and self-confidence. Grooming businesses use hair removal products to provide comprehensive services catering to clients' aesthetic preferences and hygiene needs, enhancing their overall grooming experience. For instance, in April 2024, according to the report published by the International SPA Association (ISPA), a US-based non-profit trade organization, the US spa business saw a rise in overall revenue from $18.1 billion in 2021 to $20.1 billion in 2023, a rise of more than 11%. Therefore, the rising number of grooming businesses is driving growth in the hair removal product market.

Key Industry Players
Major companies operating in the hair removal products market are  Reckitt Benckiser Group plc, Braun GmbH, Church & Dwight Co. Inc., Rica Group, Lumenis Be Ltd., Cynosure, American International Industries, Cutera Inc., Alma Lasers, Solta Medical, Fotona D.o.o, Sciton Medical & Aesthetic Laser Technologies, Silkn beauty Ltd., Tria Beauty Inc., Nair, Flamingo, Lynton Lasers, SoftSheen Carson Inc., Sue Ismiel and Daughters, Italwax, Parissa Laboratories Inc., The Darent Wax Company Ltd., Le Club Perron Rigot, Sally Hansen Inc., Starpil Wax Co.

The hair removal products market report table of contents includes:
1. Executive Summary
2. Hair Removal Products Market Characteristics
3. Hair Removal Products Market Trends And Strategies
4. Hair Removal Products Market - Macro Economic Scenario
5. Global Hair Removal Products Market Size and Growth
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32. Global Hair Removal Products Market Competitive Benchmarking
33. Global Hair Removal Products Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hair Removal Products Market
35. Hair Removal Products Market Future Outlook and Potential Analysis
36. Appendix