Hair removal wax market to grow by USD 436.4M from 2024-2028; benefits of wax products drive growth, AI impacts trends: Technavio

NEW YORK, Sept. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global hair removal wax market  size is estimated to grow by USD 436.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.44%  during the forecast period.  Benefits of hair removal wax products is driving market growth, with a trend towards increasing demand for pre-made waxing strips. However, presence of substitutes for hair removal wax  poses a challenge. Key market players include Church and Dwight Co. Inc., Coty Inc., Edgewell Personal Care Co., Fidelgrow Hellas IKE, FILO BIANCO S.r.l., Harley Waxing, Harrys Inc., Jax Wax Australia Pty Ltd., JOLEN INC., LOreal SA, Marketing Brokers Australia Pty Ltd., MAYSTAR S.L., Parissa Laboratories Inc., RDM Care India Pvt. Ltd., Reckitt Benckiser Group Plc, Rica spa, SI and D Aust Pty. Ltd., Thalgo, The Darent Wax Co. Ltd., and Xanitalia srl.

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Key Market Trends Fueling Growth

The global hair removal wax market is experiencing significant growth due to the increasing popularity of pre-made waxing strips. These strips offer numerous advantages over traditional hot wax techniques, making them a practical and preferred choice for customers. Pre-made wax strips are convenient as they require no heating or preparation, making them ideal for individuals with busy schedules or those seeking a quick hair removal solution. They are also less messy and cleaner as users do not come into contact with the wax directly. Pre-made wax strips are easily accessible for home use, offering privacy and eliminating the need for salon visits. They are also more beginner-friendly and portable, requiring no additional tools or equipment. Pre-made wax strips are often more affordable than frequent salon appointments and come in various alternatives to cater to different skin types, hair textures, and body regions. Key players in the pre-made wax strips market include Veet, Nair, Cirepil, and Epilateurwax. The rising demand for these strips is expected to drive the growth of the global hair removal wax market during the forecast period. 

The Hair Removal Wax Market is witnessing significant growth due to the increasing trend of waxing as a popular hair removal method. Strip wax and resin wax are the two main types of wax used for this purpose. The root extraction offered by waxing results in prolonged beauty and is becoming increasingly popular among middle-class consumers in emerging economies due to urbanization and rising standard of living. Women, as well as men, are becoming more aware of the importance of body hygiene and attractive appearance for personal and social reasons. The market includes commercial salons, parlors, spas, and working class women using waxing at home. Soft wax and hard wax are the two main types of Hair Removal Wax, suitable for body and facial hair. The global public's purchasing power and lifestyle changes have led to an increase in demand for waxing services. Dead skin cells are removed during waxing, making it an effective method for maintaining healthy skin. Waxing is used for aesthetic reasons, as well as for medicinal reasons, such as treating ingrown hairs and reducing the risk of razor burns. The market is expected to continue growing in the coming decades due to the increasing popularity of cosmetics and the desire for a better physical appearance. 

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Market Challenges

• The hair removal market presents consumers with various options for hair elimination, each offering unique advantages and disadvantages. Shaving, using razors, is a quick and convenient method but results in temporary hair removal. Depilatory creams, which disintegrate hair at the skin surface, provide a painless solution but may cause skin irritation and an unpleasant smell. Epilators, which mechanically remove hair at the root, offer longer-lasting results but can be uncomfortable. Laser hair removal, a semi-permanent solution, targets hair follicles and provides longer-lasting results but is more expensive and requires multiple sessions. Sugaring, a natural hair removal technique, is a milder alternative to waxing for those with sensitive skin. Brands like Bombae and Urban Yogi cater to the growing demand for hair removal solutions. Bombae, a women's personal care brand, recently launched a laser hair removal facility, while Urban Yogi introduced a painless hair removal spray. These alternatives impact consumer preferences and market dynamics for hair removal wax. The availability of various hair removal methods hinders the growth of the global hair removal wax market during the forecast period.
• The Hair Removal Wax Market faces challenges in providing less irritating and more effective waxing products for various skin types. Warm waxing methods like Brazilian waxing for sensitive parts remain popular, but acceptance of such procedures varies. Top competitors offer new wax products with unique fragrances, colors, and flavors, as well as soft wax strips and natural ingredients. Hard wax for the face and bikini area is preferred for an ultra-smooth finish and long-lasting effect. Epilators, electrical devices, and laser are alternatives, but waxing remains a common choice in commercial segments such as spas, salons, and home waxing kits. Living standards and self-care routines drive individual demand, with beauty stores, supermarkets, and convenience stores stocking these products.

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Segment Overview 

This hair removal wax market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product Type
• 2.1 Hard wax
• 2.2 Pre made wax strip
• 2.3 Soft wax
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Offline-  The hair removal wax market encompasses both offline and online sales channels. Offline sales, which include purchases made in physical retail stores, account for a significant portion of the industry. Consummers preferring immediate product access and the ability to physically engage with products before purchasing are the primary drivers of offline sales. Brands strategically place their products in retail stores based on local consumer preferences and demographics, ensuring high visibility and brand awareness. Retailers and brands collaborate to offer in-store promotions, discounts, and bundle deals to attract customers and encourage spontaneous purchases. Eco-friendly packaging and materials are increasingly used to cater to environmentally conscious consumers. In-store events, such as workshops and demonstrations, provide opportunities for brands to educate customers about their products and proper waxing techniques. The offline sales segment's dominance in the hair removal wax market is due to its appeal to customers seeking tactile sensations and personal assistance from store staff. Brands that effectively leverage retail partnerships, eye-catching displays, and strategic positioning can increase sales and drive growth in the offline segment of the global hair removal wax market.

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Research Analysis

The Hair Removal Wax Market is witnessing significant growth due to the beauty-conscious female population and the increasing number of female working professionals. The market is driven by factors such as awareness for prolonged beauty, urbanization, and the emergence of middle-class consumers in emerging economies. The convenience-oriented lifestyles of consumers have led to an increase in demand for at-home waxing kits, including root wax, cream wax, and resin wax. The standard of living and purchasing power have also contributed to the growth of commercial salons, parlors, spas, and workplaces offering waxing services. Working class women and the importance of body hygiene in workplaces have further fueled the demand for waxing services. Cloth strips are commonly used in waxing to ensure effective hair removal.

Market Research Overview

Hair removal waxing has been a popular method for eliminating unwanted body and facial hair for several decades. The market for hair removal wax includes various types such as strip wax, root wax, cream wax, and resin wax. Strip wax uses cloth strips to remove hair from the root, while resin wax is applied and removed without the use of strips. Both men and women use hair removal wax for various reasons including body hygiene, personal appearance, aesthetic reasons, cultural reasons, and even medicinal reasons. The market for hair removal wax has grown significantly due to increasing awareness of prolonged beauty, urbanization, and the rising standard of living in emerging economies. Middle-class consumers, working class women, and youngsters are the primary buyers of these products. The market caters to both home and professional salon use, with commercial salons, parlors, spas, and workplaces being major consumers. The waxing industry offers temporary and permanent hair removal options, with consumers' budgets and personal preferences influencing their choices. Soft wax and hard wax are the most popular waxing procedures, with hot wax being more common for sensitive parts such as the face and bikini area. New wax products are continuously being introduced, offering less irritating and more effective options, as well as unique fragrances to enhance the overall experience. The acceptance of Brazilian waxing has increased in recent years, making it a popular procedure for beauty routines. The market for hair removal wax is expected to continue growing as modern beauty standards evolve and consumer purchasing power increases, making it a lucrative market for cosmetics companies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product Type
• Hard Wax
• Pre Made Wax Strip
• Soft Wax
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

SOURCE Technavio

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