Depilation or hair removal is the deliberate removal of human body hair. Products used for human body hair removal for beatification and medical purposes among others are known as depilatory products. Methods of hair removal that uses depilatory products include shaving, waxing, sugaring, laser treatments and electrolysis among others. Depilation is done both for beautification and medical purposes. Clinical hair removal and laser treatments include the use of electronic devices and laser technology that alters the skin’s condition in order to remove body hair unlike cosmetic products which removes hair superficially. The global market for depilatory products has been segmented into product type and geography. By product type, the global depilatory products market is segmented into waxes and wax strips, hair removal creams, razors and blades and electronic hair removal devices. Hair and hair removal creams dominated the global market closely followed by wax and wax strips.
Major drivers driving the global depilatory products market includes increased demand for do it yourself (DIY) hair removal methods. This is more convenient for consumers than going to salon and spas for hair removal treatments. In addition, DIY hair removal methods are more cost effective and they can be done at the comfort of one’s home. DIY products are also convenient for on the o purpose which makes them a great fit for travelling. Another major driver driving the global market for depilatory products market is additional properties such as moisturizing, skin smoothening of skin and anti tanning properties in depilatory products.
In addition, increased spending by men for personal grooming is driving the market in a positive way. Another major driver driving the global depilatory products market includes advancement in depilatory technologies such as Aromaguard which facilitates odor less hair depilation and creams that depilates in a very less time. Increased use of organic products is restraining the overall market growth of the global depilatory market. Presence of harmful chemicals in depilatory products such as calcium thioglycolate and sodium hydroxide among others is restraining overall global market growth. These chemicals help in faster removal of hair. In addition, chemicals like calcium hydroxide, potassium hydroxide and thioglycolic acid are used in depilatory products as they help in dissolution of the hair roots making them easy to remove. But these chemicals are harmful for skin especially when used for a prolonged period of time. This is acting as a major restraint as consumers are getting increasingly aware of these effects. Increased penetration in markets such as Middle East and Latin America can prove to be great opportunities for the global depilatory products market. As consumers in these regions are getting increasingly aware of depilatory products, demand for the same is increasing over time. Penetration by global players can prove to be great profit making opportunity.
Geographically, the global depilatory market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Europe constitutes the largest share of the global market closely followed by North America. This is attributed to large population of fashion and grooming conscious consumers in these regions. Asia Pacific is the fastest growing region among all the regions owing to increased young population, rising disposable income, and increased awareness of personal growing products. Middle East & Africa and Latin America constitute the smallest shares due to persistent lack of knowledge and low standard of living in these regions.
Major players of the global depilatory product market includes L’Oreal SA (Île-de-France, France), Reckitt Benckiser (Slough, U.K.), Procter & Gamble (Ohio, U.S.), Coty Inc. (New York, U.S.), Church & Dwight (New Jersey, U.S.) and Nad's (Sydney, Australia) among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.