Outlook of the depilatory products market
According to the analysts at Technavio, the global depilatory products market is envisaged to witness steady growth and will post a CAGR of more than 6% over the predicted period. The increasing demand for DIY hair removal methods is a key factor driving the growth prospects of this market over the next four years. Preferences for salons is declining, particularly for regular use, with people increasingly choosing cost-effective DIY methods of removal of unwanted hair. Moreover, most hair removal creams have moisturizing and skin smoothening properties, leading to their increasing popularity. Additionally, DIY kits are readily available to cater to the requirements of on-the-go customers. For example, Helix Threadease Hair Removal System and the Tweezerman Mini Slant Tweezer are affordable options that easily fit in makeup boxes.
Increasing demand for natural and organic products is one of another trend of this market in the coming years. The presence of harmful chemicals in regular depilatory products has significantly affected its acceptance among consumers around the world. Most chemical hair removal products have sodium hydroxide and calcium thioglycolate as key ingredients that help remove hair faster. Also, chemicals like thioglycolic acid, calcium hydroxide, sodium hydroxide, and potassium hydroxide dissolve the bonds holding the keratin molecules in hair, thereby hastening the process of hair removal. However, such chemicals can be harmful to the body, especially as these products are meant for repeated use over a regular period. This has led to consumers looking out for alternative products with natural ingredients that are safe for long-term usage. For instance, amber gel offers hair removal creams that contain extracts of natural ingredients and are safe for use for people with conditions like varicose veins and eczema.
Product segmentation and analysis of the depilatory products market
- Hair removal creams, waxes, and wax strips
- Women’s blades and razors
- Women’s electronic hair removal devices
During 2015, the hair removal creams, waxes, and wax strips segment dominated the market and accounted for more than 53% of the market share in terms of revenue. Factors such as the growing need for personal grooming and the launch of innovative products containing organic ingredients to impel the growth prospects of this market segment in the coming years. Moreover, the launch of fragrant hair removal creams with moisturizing properties will also aid in this segment’s growth over the forecast period.
Geographical segmentation and analysis of the depilatory products market
- Americas
- APAC
- Europe
- MEA
In terms of geography, Europe led the global depilatory products market and is expected to reach more than USD 3 billion by 2020. The growing preference for staying well-groomed is one of the key factors driving this market’s growth in Europe. Moreover, increasing awareness among the consumers of depilatories as efficient, safe, and convenient options to stay well-groomed will propel the growth prospects of this market in the region.
Competitive landscape and key vendors
The global depilatory products market is highly competitive with the presence of numerous large and medium-sized providers. However, the growing presence of international players in the market, regional players are finding it increasingly difficult to compete in terms of pricing. The vendors compete on the basis of product differentiation, product portfolio, quality, and pricing. The vendor competition is likely to intensify with several product launches, price discounting, and mergers and acquisitions.
Key vendors in this market are -
- American International Industries
- Church & Dwight
- L'Oréal
- Nad's
- P&G
- Reckitt Benckiser
Other prominent vendors in the market are Coty, Dabur, Edgewell Personal Care, Jolen, Revitol, and Vi-John Group.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global depilatory products market?
- What are the key market trends impacting the growth of the global depilatory products market?
- What are the challenges to market growth?
- Who are the key vendors in the global depilatory products market?
- What are the market opportunities and threats faced by the vendors in the global depilatory products market?
- What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
- What are the key outcomes of the five forces analysis of the global depilatory products market?
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