Rising consumer awareness about personal beauty standards, innovation in product formulations, and increase in the demand for grooming products are the major factors which drive the global market growth.
Wilmington, Delaware, Sept. 25, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Depilatories Products Market by Product Type (Creams, Wax Strips, Razors and Others), Gender (Women and Men), and Distribution Channel (Drugstores, Supermarkets and Hypermarkets and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the depilatories products market was valued at $2.3 billion in 2023, and is estimated to reach $3.9 billion by 2033, growing at a CAGR of 5.2% from 2024 to 2033.
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Prime determinants of growth
Rising consumer awareness about personal beauty standards, innovation in product formulations, and increase in the demand for grooming products are the major factors that drive the growth of the depilatories products market growth. However, the side effects associated with chemical-based formulations may restrict the market growth. Moreover, growth opportunities in emerging markets offer remunerative opportunities for the expansion of the global depilatories products market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $2.3 billion |
| Market Size in 2033 | $3.9 billion |
| CAGR | 5.2% |
| No. of Pages in Report | 235 |
| Segments Covered | Product Type, Gender, Distribution Channel, and Region. |
| Drivers |
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| Opportunity |
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| Restraint |
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Segment Highlights
Rise in adoption of hair removal creams
By product type, the creams segment is driven by its ease of use and effectiveness in removing unwanted hair. In addition, depilatory creams are popular for their convenience, as they offer a painless alternative to shaving and can be applied quickly at home, which propels the segment growth. Furthermore, the wide range of creams available caters to different skin types and sensitivities, enhancing segment growth. Product innovations, such as added skin-conditioning agents, further boost their attractiveness.
Rise in demand for depilatories products in women
By gender, the women segment is driven by the strong emphasis on personal grooming and beauty standards. In addition, the growing awareness of maintaining smooth skin and appearance fuels demand for effective and convenient hair removal solutions which supports the segment growth. The availability of specialized products for sensitive areas, such as legs, arms, caters to their specific needs. Marketing strategies targeting female consumers, coupled with innovative product formulations designed for various skin types, further boost the segment growth.
Rise in adoption of depilatories products in supermarkets and hypermarket
By distribution channel, the supermarkets and hypermarket segment held a substantial portion of the depilatories products market share, primarily driven by as they offer a wide range of depilatory products in convenient locations, making it easy for consumers to access and purchase them. The presence of these products in well-established retail chains also benefits from effective in-store promotions and product displays. In addition, supermarkets and hypermarkets often provide competitive pricing and attractive deals, which encourage bulk purchases and thereby supports the segment growth.
Regional Outlook
North America Dominance by 2033
North America is projected to maintain its leadership in the depilatories products market owing to a high level of consumer awareness and demand for personal grooming. In addition, the advanced retail infrastructure, including a wide network of supermarkets, hypermarkets, and online platforms, facilitates easy access to a variety of depilatory products thereby supports the market growth. Furthermore, strong disposable incomes and a culture of self-care and beauty support ongoing consumer spending further contributes towards the market growth.
Key Players
- Velnik India Limited
- Procter & Gamble
- Reckitt Benckiser Group PLC
- Jolen beauty
- SI&D (Aust) Pty Ltd
- American International Industries.
- Church & Dwight Co., Inc.
- Edgewell Personal Care
- HCP Wellness Private Limited
- L’Oréal Paris
The report provides a detailed analysis of these key players in the global depilatories products market. These players have adopted different strategies such as agreement, expansion, product launch, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Depilatories Products Industry
- In May 2021, Gillette Venus launched a new Venus for public hair & skin collection.
- In January 2019, American International Industries (AII), leading manufacturer and worldwide distributor of beauty products, has added Satin Smooth hair removal and skincare brand to its portfolio. The acquisition follows a 2018 announcement that AII would soon be selling Spilo Worldwide products.
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