Depilatory Products Market
Industry: Consumer Goods
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP30910
Over the last few years, the growing popularity of personal grooming products is gaining attraction among consumers of all age group. Today, continuously development of innovative formulas and frequently launch of novel products making it easy for manufacturers to satisfy the need of customers. Nowadays, men are vigorously engaging in beauty and grooming products for self-care and are seeking for products that can improved their skin. Hairless body is a most popular trend among young men to enhance their skin appearance. This is drawing more attention of the companies to offer new hair removal products apart from shaving creams and deodorants. Depilatory products are one such topical cosmetic product used to remove superfluous and unwanted hair from the skin. People use depilatory products for beautification as well as medical purposes. There is also significant increase in the demand for effective depilatory products with natural and organic claims. However, with the evolution of consumer buying behavior in the digital era due to availability of wide range of brands online, companies in the depilatory products market are facing challenges in e-commerce platform to compete with other brands. Therefore, to overcome these issues companies are incorporating various digital strategies such as building communities of customers through social media and other online opportunities to build brand advocacy and connect with the new customers.
Consumers are shifting from visiting salons and spas to do-it-yourself beauty products due to cost effective alternative coupled with rapidly growing adoption of hair removal products among teenagers and young adults. These are some of the trends influencing the growth of the depilatory products market in the near future. Nowadays, men are taking a keen interest in their personal grooming, body image, and hygiene is another factor fueling the growth of the depilatory products market. Companies are seeking for natural and organic certification for personal care products to have a competitive edge and preferring digital advertising platforms to expand customer base globally are predicted to create the substantial potential for depilatory products market in the near future.
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Among end user, men are likely to grow at a substantial CAGR in the depilatory products market over the forecast period, as they are becoming habitual users of personal care products and not limited to shaving care products and deodorants. Additionally, premium price range is likely to register a substantial revenue growth over the forecast period, as prominent players in the market are introducing products for premium category and adopting premiumization strategies to target new customers. Based on sales channel, e-retailers is booming in the depilatory products market, as it increase customer value, develop sustainable capabilities, and allow easy accessibility to a speedily rising brands to choose from.
The depilatory products market is anticipated to register significant growth across all the regions during the forecast period. The depilatory products market is classified into seven key areas: North America, Europe, Latin America, East Asia, South Asia, Oceania, and the Middle East & Africa. North America is expected to be the leading markets in the global depilatory products market followed by Europe owing to high penetration of hair removal products and demand for natural ingredients based beauty and personal care products in the region. South Asia and East Asia depilatory products market is expected to account healthy CAGR during the forecast period owing to rise in influence of western culture, growth in urban households, and reducing taboos among men for using personal grooming products. MEA is likely to offer attractive opportunity in the global depilatory products market in the coming years due to consumers are considering depilatory products as a more convenient and affordable option than other removal treatments services at spas and salons.
Some of the key players operating in the global depilatory products market are Church & Dwight Co., Inc., L'Oréal S.A., Dabur International Ltd., Andrea, Reckitt Benckiser Group, Sally Hansen Inc., Jolen Beauty, Parissa Laboratories Inc., Nad's, Revitol, Procter & Gamble Co., MOOM Inc., barburys company, and others.
Companies in the depilatory products market are continuous focuses on innovation and strengthening their market position with the introduction of premium depilatory products. They are also aiming to expand their product portfolio by including natural and herbal-based offerings along with significantly shifting to e-commerce platform through various consumer-connect campaigns worldwide.
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the application, skin type, end-user, nature, price range, and sales channel of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Some of the key data points covered in our report include:
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