Hair Removal Products Market Assessment, By Product [Wax, Depilatory Creams, Razors, Trimmers and Shavers, Others], By Application [Face, Other Body Parts], By Gender [Men, Women], By End-user [Residential, Commercial], By Price Range [Mass Segment, Premi

Hair Removal Products Market Assessment, By Product [Wax, Depilatory Creams, Razors, Trimmers and Shavers, Others], By Application [Face, Other Body Parts], By Gender [Men, Women], By End-user [Residential, Commercial], By Price Range [Mass Segment, Premium Segment], By Distribution Channel [Offline, Online], By Region, Opportunities and Forecast, 2017-2031F

Global hair removal products market is projected to witness a CAGR of 5.1% during the forecast period 2024-2031, growing from USD 5.09 billion in 2023 to USD 7.59 billion in 2031. Factors such as increasing awareness of personal hygiene and introducing technologically advanced and economical hair removal products that are convenient and pain-free are driving the growth of the global hair removal products market. The surging trend of at-home quality hair removal treatments is fueling the demand for hair removal products. Moreover, the reduction in odor and sweat due to clean and hairless skin has further supplemented the demand for such products.

The trend of dermaplaning among consumers is supporting the growth of the hair removal products market. Moreover, consumers are increasingly seeking hair removal products that are painless and comfortable, offering minimum discomfort during the process of removal of hair. For instance, women are switching towards epilators and other convenient hair removal products over waxing which is a less painful process for hair removal than the latter. In March 2023, Church & Dwight Co., Inc.’s Nair launched Prep & Smooth Face, a one-step formula for removing facial hair. The product offers a touch-free and mess-free application for removing hair on the upper lip, chin, and cheeks.

With the increasing environmental concerns, consumers prefer sustainable hair removal products that are gentle on the environment. Thus, manufacturers have started incorporating recycled and recyclable material in the product and its packaging. For instance, in April 2022, Edgewell Personal Care Brands, LLC introduced bamboo razors for men and women, Schick Xtreme Men’s Bamboo Hybrid Razor, and Schick Intuition Women’s Bamboo Hybrid Razor. These two products are designed to be more sustainable by utilizing recycled, recyclable, and renewable materials for both product and packaging.

Efficiency and effectiveness remain key drivers of the popularity of these products. With innovations in hair removal products to make them more effective, long-lasting hair removal options have become a more accessible and reliable option.

The availability of products targeting different skin types and body parts further drives the market growth. Consumers are becoming increasingly aware and more concerned with skin health, demanding a reduction in irritation and gentle hair removal products. The increasing availability of hypoallergenic, organic, and dermatologist-approved products has widened their reach.

Manufacturers are introducing gender-inclusive products to appeal to a wider range of audiences without the requirement of developing gender-specific products. For instance, in January 2024, Koninklijke Philips N.V. introduced Philips Norelco OneBlade Intimate, which is designed for both men and women. The product offers consumers an easy and comfortable shave or trims in the most sensitive armpit and pubic hair areas.

Hair Removal Products Offering Long-lasting Results to Gain Popularity

Consumers increasingly prefer hair removal products that offer long-lasting results due to products that offer time-saving and convenient solutions. Traditional hair removal methods, such as shaving or waxing, often require daily or weekly commitments, making these long, time-consuming procedures inconvenient. Hair removal products having long-lasting results are preferred by consumers as they can achieve hair-free skin without the discomfort and skin irritation that frequent hair removal practices can bring. Advanced methods, such as laser hair removal or epilators, offer long-lasting solutions that reduce the frequency of treatments, allowing consumers to enjoy smoother skin without constant upkeep. For instance, in September 2023, Pluxy launched Pluxy Epil Pro 3 hair removal, which removes unwanted facial hair for up to 4 weeks. The epilator is less painful than waxing, quicker than plucking, and less irritating than shaving. It removes the hair from the root, causing it to grow back thinner and slower.

Long-lasting hair removal solutions align with consumers' preferences. They seek minimalism and simplicity in their beauty routines. Investing in products that require fewer applications saves time and income for consumers. Such products pose a lesser threat to the skin as they are perceived to be gentler and more comfortable in the long run.

At-Home Hair Removal Products to Fuel the Market Growth

At-home hair removal products have gained popularity among consumers due to their convenience and cost-effectiveness. It appeals to consumers when they can fit hair removal routines into their schedules from the comfort of their homes without using time and money to visit salons for hair removal treatments. For instance, in February 2023, DELEXI launched its latest range of at-home hair removal products with the introduction of its hard waxing kit. The wax has been formulated with natural ingredients, such as aloe vera and lavender, which offers a long-lasting hair removal experience to consumers and leaves the skin of the consumers smooth and residue-free. The product has been launched to provide salon-quality results from the comfort of consumers’ homes.

Significant technological advancements have been made in at-home hair removal devices, improving their efficiency and usability. Modern hair removal devices and technologies, such as Intense Pulsed Light (IPL) devices and laser hair removal tools, provide users with professional results while maintaining user-friendly interfaces.

The rise of beauty vloggers and users on social media contributed a lot to the popularity of at-home hair removal on social media. Good reviews, tutorials, and positive user experiences from well-known users helped build consumer trust in the effectiveness and tolerability of these products.

Women to Dominate Global Hair Removal Products Market Share

Women dominate the market of hair removal products due to societal beauty standards and social expectations of women's beauty. They focus on their smooth and hairless skin as a trait of femininity and attractiveness. According to the report of The American Board of Plastic Surgery in 2022, globally, 84% of women had undergone skin treatments such as Laser Hair Removal and IPL treatment, while men only accounted for 16%.

Marketing campaigns often target women, promoting a wide range of hair removal products for different skin types and different body parts. Moreover, women are more engaged in grooming and personal hygiene as compared to men with their usage extending to their legs, underarms, face and other body parts, unlike men who preferably remove only facial hair. For instance, in February 2023, Conair LLC launched a professional-quality hair removal tools for women. The products include The Shaver and Body Polish Kit, Face Forward Nose, Face and Brow Set, BikiniBomb Trim and Shave Set, and Rechargeable Epilator. The modern hair removal tools, which are designed to appeal to the modern generation of shavers, feature an ergonomically designed rubber grip, skin-friendly blades and trimmers, and a long-lasting battery for wireless usage.

Increasing numbers of hair removal products designed specifically for women, offering them minimum discomfort during the process of hair removal. For instance, in November 2023, Lubex launched Sapphire Ice-Cooling Hair Removal Device, which provides at-home intelligent beauty solutions for women. The laser hair removal ice cooling system utilizes ice cooling technology, which is safe and mild and maintains low temperatures. The product appeals to the consumers as it is easy to tolerate compared to other hair removal techniques and causes minimum discomfort during usage.

North America to Hold a Significant Market Share

North America dominates the hair removal product market over other regions due to several reasons. The higher disposable income of the consumers in the region enables the consumers to spend more on personal care and lifestyle products, making the costly hair removal technologies, such as laser devices, affordable for the consumers, driving the demand for hair removal products in the region. For instance, in April 2024, Cutera, Inc. announced the launch of Xeo+ in North America. Xeo+ is a laser hair removal device that offers faster hair removal treatment. The device incorporates both laser and IPL handpieces, ranging from products, namely, Limelight, CoolView, Acutip, and Prowave. The latest technology is enriched with larger spot size options and upgraded contact cooling, which offers improved comfort, allowing practitioners to perform the hair removal treatment twice as fast.

The region's beauty and personal care market is highly developed, with newer brands and technologically advanced products frequently pouring in. These products are gaining popularity due to social media and the fashion industry's influence. The manufacturers offer diverse products, coupled with effective marketing strategies and a strong distribution channel making the products popular and accessible among the consumers, driving market growth.

People in North America have busy lives, and most of the population is working. Thus, consumers seek convenient and long-lasting hair removal products. The region has a strong personal care market, where people are willing to invest in beauty to groom themselves, thus increasing the popularity of hair removal products among consumers.

Future Market Scenario (2024 – 2031F)

The hair removal products market is expected to rise in the forecast period with the continuous product innovations and advancements in the technology introduced by the manufacturers for the consumers. The innovations and technological advancements in the products such as painless hair removal techniques, long-lasting hair removal results, and availability of skin-friendly options appeal to the consumers as it minimizes their discomfort.

In May 2024, BIC Soleil Escape launched a limited edition of 5 senses shave kit in collaboration with Love Wellness founder, Lo Bosworth. This sensorial collection includes 5 blade razors with scented handles, available in two fragrances, namely, Jasmine-Eucalyptus and Vanilla-Berries.

Moreover, advancements in ion technology offers customizable solutions for different skin types, unique to every consumer, increasing the effectiveness of the product and offering comfort to the consumers, further helping the market to flourish in the forecast period.

Key Players Landscape and Outlook

Key players in the market are helping the growth by focusing on continuous product innovation, retail expansions, and strategic marketing. The manufacturers are actively expanding their product portfolio, increasing the base of the customers, and catering to their evolving needs.

The key players are introducing products which are sustainable and at the same time, convenient to use, whether at home or during travelling. For instance, in January 2024, Panasonic Holdings Corporation launched its latest Palm Shaver at the Consumers Electronic Show (CES) 2024 in Las Vegas. This five-bladed shave which is designed to fit in the palm of the consumers can be conveniently used at-home or while travelling, ensuring a close and smooth shape in every use. The shaver uses Nagori, a sustainable material, developed from sea minerals, reducing the plastic usage by 40% than Panasonic’s conventional grooming products.