Transparency Market Research delivers key insights on the global hair removal wax market. In terms of revenue, the global hair removal wax market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global hair removal wax market report.
In this market report, TMR predicts that the global hair removal wax market would be largely driven by factors such as rising demand for at-home hair removal products across the world. Moreover, growing emphasis on personal hygiene and grooming is expected to boost the demand for hair removal wax in the upcoming years.
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The hair removal wax market report covers type, ingredient, skin type, coverage, pricing, end user, and distribution channel. In terms of type, the market is segmented into soft wax and hard wax; the ingredient segment has been bifurcated into organic and synthetic; the skin type segment includes dry skin, oily skin, normal skin, sensitive skin, and others. Based on coverage, the market has been divided into face, body/arms/legs, and bikini. The pricing segment has been classified into high, medium, and low. The end user segment has been segregated into men and women; the distribution channel comprises online and offline. Based on type, soft wax accounted for major market share. The increasing at-home hair removal techniques contributes majorly to the expansion of this segment, owing to increasing awareness about hygiene and physical appearance. The segment is projected to expand at a significant rate in the upcoming years.
Considering the rising trend toward using natural ingredient waxing products, the organic segment is expected to show rapid growth during the forecast period; although, the synthetic segment holds major share in the market and is likely to expand constantly in the near future. Hair removal waxing products with organic ingredients are more sustainable and beneficial to the skin, as after waxing, it does not affect the skin adversely and helps to obtain smooth skin.
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Full body wax is witnessing demand, especially from women, as it has become very popular among working women or women connected to the fashion industry. In the fashion industry, women need to look presentable all the time that has led to the increasing adoption of full body wax, as it has a longer effect as compared to other hair removal procedures. This is one of the major factors boosting the growth of the hair removal wax market.
Hair Removal Wax Market: Prominent Regions
Presently, Asia Pacific dominates the global hair removal wax market followed by North America. China and India are the largest producers of hair removal wax. Asia Pacific accounted for the largest share of the market, due to the presence of small scale and medium scale manufacturers in the region. It is one of the prime reasons for its dominance in the hair removal wax market. The rising disposable income coupled with huge population is influencing users to spend on personal and skin care products. The increasing adoption of hair removal wax is likely to further boost the demand for the product.
In North America, the U.S. is the largest hair removal wax market. Growing awareness regarding the efficacy of organic personal care products and high standard of living of the people are driving the adoption of premium skin care and personal care products, which, in turn, boost the demand for personal grooming products such as hair removal wax. Additionally, increasing demand from professional spas and salons has led to the increasing adoption of a broad range of waxing products.
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Hair Removal Wax Market: Key Players
The competition landscape of the hair removal wax market is moderately fragmented with leading players accounting for the majority of the revenue share. Key players operating in the global hair removal wax market include American International Industries (GIGI), Church & Dwight Co., Inc. (Nair), FILO BIANCO S.r.l., Sue Ismiel and Daughters (Nad’s), Parissa Laboratories Inc., Le Club Perron Rigot, The Darent Wax Company Ltd., Rica Group, Sally Hansen, and the Starpil Wax Co.
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