A depilatory is employed to get rid of unwanted hair from human skin for beautification and medical purposes. There are several purposes for which the depilatory technique utilized, for instance, shaving, waxing, laser treatment, surgery, and electrolysis. The rising popularity of depilatory as fast hair removal and a pain-free technique, cost-efficiency, ease-of-use, increasing demand for gender-specific goods, and increasing product awareness is boosting the growth of depilatories. The rising significance of natural and organic ingredients is one of the prominent trends in the global depilatories market, during 2020-2030.
The global depilatories market will be growing, which is urged by the rising demand for improved and new products in emerging nations in addition to the growing demand for the products in rising markets.
Depilatories Market – Key Trends
Increased demand for do it yourself (DIY) hair removal methods are majorly boosting sales of depilatories market. This is more convenient for customers in contrast to going to spas and salons for hair removal treatments. Additionally, DIY hair removal methods are more cost-efficient since they can be done at one’s comfort at home. Moreover, these DIY depilatories are a great fit while traveling.
Depilatories have additional properties such as moisturizing, anti-tanning of skin, and skin smoothening properties which makes them more preferable amid consumers. The market is witnessing increased spending by men for personal grooming which is positively impacting the market.
Moreover, progressions in depilatory technologies for example Aromaguard which enable odorless hair depilation as well as creams that depilates in lesser time.
Brands are on product launch and innovation spree through adding more premium variants and re-launching a few of its prominent brands. Reckitt Benckiser (RB) recently launched a hair removal cream for men under its prevalent brand Veet in an indication that India’s fairly small, however rising male grooming group is pulling in more shoppers and leading some of the world’s biggest brands to offer more products for men than just deodorants, and shaving creams. RB has also onboarded Kartik Aryan, a Bollywood celebrity to promote the depilatories that RB also sells in different global markets.
Depilatories Market – Growth Restraints
The existence of harmful chemicals in depilatories such as sodium hydroxide, thioglycolic acid, and calcium thioglycolate amid others is constraining overall global market expansion. Additionally, these chemicals are utilized in depilatory as they assist in quicker hair removal making them easy to remove. However, these chemicals are damaging for skin particularly when utilized for a lengthy period. As consumers are getting progressively aware of these effects, this acts as a prominent restraint to the market growth.
COVID-19 Impact on Depilatories Market
Depilatories sales are estimated to slightly decline in 2020 at continual 2019 value prices due to the COVID-19 impact. The outbreak has led towards the shutdown of several businesses worldwide comprising salons and beauty parlors. This attribute has prompted a surge in the need for depilatory products. Several individuals are incorporating self-grooming mechanisms because of the global shutdown of salons and beauty parlors. Although grooming stores are slowly reopening in some parts of the globe, people are doubtful to schedule an appointment because of the transmission threat of COVID-19.
Depilatories Market – Region-wise Analysis
Europe preserves the leadership mainly due to the growing preference of consumers towards grooming, followed by North America.
The Asian region has shown impressive development in the manufacturing and consumption of depilatories such that it towers over all the regions of the region in 2020 and beyond. Factors such as growing young population, increasing buying power, growing awareness & importance of personal grooming products as well as a trend toward Western lifestyles will be boosting sales in the region. Recently, Gillette razor products offer there most successful range for both women and men remain. In China, P&G’s marketing efforts have centered on TV and online advertising to spread a wider buyer base.
Depilatories Market – Competitive Analysis
Participants in the depilatories market are enhancing their business impressions through product innovations and mergers and acquisitions. For instance
Church & Dwight acquire the Flawless Finishing Touch hair removal business from Ideavillage. With this acquisition, the company aims to fulfill the multiple requirements of consumers.
P&G acquired Billie, a US-based shaving and body care brand. The company is taking over the women's shaving subscription market to offer high-quality products at inexpensive costs to women worldwide. The blend of Billie’s body care, naturals-focused razors and high-quality products, and P&G’s experienced and highly-skilled people, technical capabilities, resources, and go-to-market expertise will be reaching millennial and gen-Z women.
Major companies of the global depilatory market are Reckitt Benckiser, L’Oreal SA, Coty Inc., Procter & Gamble, Nads and Church & Dwight.
Global Depilatories Market: Market Segmentation
Based on product type, the global depilatories market has been segmented as –
Based on end-user, the global depilatories market has been segmented as –
Global Depilatories Market: Key Players (this is an indicative list – full list of key players available upon request)
The report on Depilatories Market covers exhaustive analysis on:
Regional analysis for Depilatories Market includes
Report on Depilatories Market highlights:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.