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Rise in Number of People Choosing Wax over Shaving

Hair removal wax, a type of depilatory, is a product invented to chemically or physically eliminate undesirable hair from areas on the body. They are usually made by blending suitable raw materials in large tanks and then filling them into individual packages. With abundance of waxing products available in the market, innovations in hair removers are being studied to make the products less irritating, more effective, and long lasting, which are expected to drive the global hair removal wax market during the forecast period.

There is a variety of waxing techniques in the present market, with warm waxing being one of the popular forms. The warm wax is used by spreading over the body and stripping the hair off with the help of a paper strip. The warm wax is often confused with the hot wax where the hot wax is applied to the body, and left to cool and harden on the skin. The wax is directly pulled off from the skin removing the hair and is preferred by many individuals depending on the skin type. Compared to shaving, waxing removes hairs from the root, whereas shaving cut off hair close to the skin level. Thus, waxing is mostly preferred due to its incredibly smooth finish and long-lasting effect. Several ways of waxing and its long lasting effect are anticipating to fuel the expansion of the hair removal wax market during the forecast period.

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Increase in Online Sales Not Offsetting Decline in In-store Sales

The global cosmetic industry has been through a shock due to the COVID-19 pandemic. A heavy slowdown in sales due to stringent government regulations for manufactures and widespread store closures continues in 2021, and is expected to last until the end of the year. However, the market witnessed a growing demand for cosmetics before the onset of the COVID-19 pandemic, especially the hair removal wax. Presently, in a variety of regional markets, consumers intend to spend less on cosmetics such as skincare and hair removal products and more on discretionary products including clothing or footwear.

The hair removal wax market is responding positively to the pandemic with some of the manufacturers switching to produce hand sanitizers and disinfecting products; however, many still struggle to mass-produce and advertise their waxing products amidst the crisis. Nevertheless, industry leaders are doing their best to ensure the survival of the business, as the market also accounts for millions of jobs, directly and indirectly. Many of the hair removal wax manufacturers and retailers are scaling up their product through eCommerce, and the sales have doubled from pre-COVID-19 times in the online segment. However, the market is still facing a slowdown due to stores being shut, as majority of products were preferred offline. The hair removal wax market is expected to rapidly grow in the post-COVID-19 pandemic, overcoming the restraints and losses faced during this time.

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Hard Wax versus Soft Wax: Which is Better?

The hair removal wax market consists of a variety of brands and types of wax, yet majorly falling into two main categories: hard wax and soft wax. People that are beginning to wax mostly prefer soft wax. Soft wax is used with a waxing spatula. This wax is popularly used for larger areas such as arms, legs, and armpit. However, hard wax is thicker and applied after warming up with a spatula. Hard wax is generally preferred, while waxing the face. Moreover, for sensitive areas such as the bikini area, hard wax can be a better option, as it attaches only to the hair, relieving the discomfort and possible irritation experienced in the process.

As compared to soft wax that sticks to the skin and exfoliates, hard wax is less painful in sensitive areas with a less painful experience. The hard wax can only be used for smaller areas as it can break easily, whereas, soft wax can work better on the larger areas with perfectly grabbing the hairs. For stickiness, hard wax leaves no gluey debris and is easier to clean as compared to soft wax’s sticky residues. However, as hard wax can be more expensive than soft wax, they are less popular in various regional markets. The producers are focusing on the flaws of each type of wax to make it more useful with less struggle for consumers. This is expected to boost the global hair removal wax market during the forecast period.

Changing Trends of Personal Grooming Influence Global Market Growth

The global hair removal wax market is expected to reach ~US$ 16 Bn by 2031, owing to rising trends in personal grooming and rapidly changing lifestyles. The global lifestyle trends have influenced consumers to spend on salons and spas for hair removal procedures. The hair removal wax market is primarily driven by spas and salons. As the world before the COVID-19 pandemic witnessed a rise in the number of spas and salons across the world, the market was estimated to rapidly grow. However, the present market slowdown has affected the growth rate, which is anticipated to expand at a CAGR of ~6% during the forecast period.

The present hair removal wax market is dominated by the Asia Pacific, as China and India are the largest manufacturers of hair removal wax. The presence of small-scale and medium-scale manufacturers in the Asia Pacific region is one of the main reasons for the development of the hair removal wax market. Rising disposable income and growing population in China and India are anticipating further growth of the hair removal wax market during the forecast period. However, there is a rise in spending on cosmetic products in North America. Rapidly changing lifestyle and high spending on cosmetics are likely to drive the hair removal wax market in North America during the forecast period.

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Analysts’ Viewpoint

Waxing is a method of semi-permanent hair removal solution that removes unwanted hair from its roots. Hair removal wax also eliminates dry and dead skin cells, along with their primary cause. There is a growing demand for at-home hair removal wax procedures among both young and adult population. People who used creams and razors for shaving are choosing waxing products for an effective and long-lasting experience. Moreover, increasing male consumers seeking waxing services due to changing grooming trends is contributing toward market growth. Moreover, major leading manufacturers are focusing on new product launches with new fragrance collaborations and mergers & acquisitions to expand their global presence. All these factors are anticipating a rapid rise in the global hair removal wax market during the projected years.

Hair Removal Wax Market: Overview

  • According to the latest market report published by Transparency Market Research on the hair removal wax market for the period of 20212031 (wherein 2021 to 2031 is the forecast period and 2020 is the base year), the COVID-19 pandemic is a key factor propelling the demand for at-home grooming techniques, which is responsible for the growth of the hair removal wax market
  • Globally, revenue generated by the hair removal wax market accounted for over US$ 8.9 Bn in 2020, which is expected to expand at a CAGR of ~6% in terms of value during the forecast period

Rising Demand for Hair Removal Wax Due to Changing Lifestyles: Key Driver of Global Market

  • The need to maintain a groomed physical appearance is one of the major factors responsible for the demand for hair removal waxing products. Rising disposable income and standard of living, and changing lifestyles are enhancing the purchasing power of consumers. This has influenced consumer spending on salons or spas for hair removal procedures. Professional spas and salons are among major buyers of hair removal products. This is expected to impact the hair removal wax market constantly in the near future.
  • Bikini waxing has become one of the most popular hair removal procedures. More people are also opting for Brazilian waxing and consider it an important part of their beauty regimen. People are preferring hard wax as it is more suitable for sensitive body areas such as the face and bikini area. The trend of opting for Brazilian and bikini wax is growing globally to the point where full body waxing has become a normal routine. Hair removal is very much in trend, growing significantly over the past 10 years.
  • Growing demand for at-home hair removal wax techniques among both young and adult population is likely to boost the growth of the hair removal wax market. The younger generation is adopting such waxing products instead of creams and razors, which can harm the skin. This is expected to expand the hair removal wax market continually during the forecast period.

Increasing Demand for Pre-made Waxing Strips: A Significant Opportunity for Hair Removal Wax Market

  • Ready to use waxing strips are a hair removal technique with wax pre-pasted on strips, so one can avoid the hassle of heating and applying wax, while removing hair. Pre-made wax strips are more efficient in the long-run. Pre-made wax strips are preferable for most parts of the body such as legs, underarms, bikini area, or even the face, as they come in a variety of shapes and sizes. These cold wax strips are very easy to use at home and can remove large areas of hair very quickly. They also create little mess as the strips are pre-waxed. This is one of the factors expected to escalate the growth of the hair removal wax market during the forecast period.
  • Men are also seeking waxing services, since grooming has become mainstream. Hair removal waxing helps to exfoliate the skin to prevent ingrown hair, supports cell regeneration, and improves the skin tone, which are major factors that have led to the increasing adoption of waxing products.

Use of Wax for Skin Exfoliation: A Key Trend in Hair Removal Wax Market

  • Hair removal wax helps to remove unwanted hair; it also removes dead and dry skin cells, which gives freshness and smoothness to the skin. Waxing is one of the fastest ways to remove unwanted hair, and the demand for hair removal wax originates from women of all ages.
  • Several companies such as Nad’s and Veet are offering easy techniques such as pre-made wax strips, which can be used at home, thus creating opportunities for massive growth of the hair removal wax market

Availability of Substitute Products: A Restraint of Hair Removal Wax Market

  • Hair removal devices and treatments such as non-surgical and non-invasive procedures are gaining popularity, owing to increasing consumer preference. Shaving, creams, and laser-based hair removal procedures are alternatives to waxing, as they are relatively less painful and prevent skin abrasions or irritation. Both men and women use shaving methods such as razor, and hair removing creams to remove unwanted hair, as they are less expensive and easy to use, which is seen as a major factor that can restrict the growth of the hair removal wax market.
  • Furthermore, laser-based hair removal keeps the treated area hair-free for months or years and reduces the need for repetitive treatment after the complete procedure. It is one of the challenges that may restrict the growth of the market in the near future.

Hair Removal Wax Market: Competition Landscape

  • Detailed profiles of manufacturers of hair removal wax have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the hair removal wax market include
    • American International Industries (GIGI)
    • Church & Dwight Co., Inc. (Nair)
    • FILO BIANCO S.r.l.
    • Sue Ismiel and Daughters (Nad’s)
    • Parissa Laboratories Inc.
    • Le Club Perron Rigot
    • The Darent Wax Company Ltd.
    • Rica Group
    • Sally Hansen
    • Starpil Wax Co.

Hair Removal Wax Market: Key Developments

  • Prominent players in the hair removal wax market are increasing investment on innovative products to fulfill the needs of end users and offer them customized solutions. Manufacturers are also planning to expand their product portfolio and presence in various regions through mergers & acquisitions and offer advanced hair removal wax to users.
  • Some other key developments in the hair removal wax market are highlighted below:
    • On March 82021, American International Industries announced plans to launch its new innovative product “Italwax Solo Glowax Kit” for facial hair removal, which is suitable for both home and professional use. This product is specially designed for sensitive skin and has been formulated in a particular hot film wax, with multidirectional application, and offers hygienic hair removal. The company is planning to expand its product portfolio, which will help to increase its customer reach all across the globe.

Hair Removal Wax Market – Scope of the Report

A new study on the global hair removal wax market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global hair removal wax market. TMR’s study offers valuable information about the global hair removal wax market to illustrate how the market would grow during the forecast period of 2021 - 2031.

Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global hair removal wax market during the forecast period.

An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global hair removal wax market. This can help readers understand principal factors to foresee growth in the global hair removal wax market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global hair removal wax market, which is expected to guide market players in making apt decisions in the future.

Key Questions Answered in TMR’s Hair Removal Wax Market Study

  • What are the key factors influencing the hair removal wax market in each region?
  • What will be the CAGR of the global hair removal wax market between 2021 and 2031?
  • What is the future scope and changing trends in technologies in the global hair removal wax market?
  • Which factors will impede the growth of the global hair removal wax market during the forecast period?
  • Which are the leading companies in the global hair removal wax market?

Research Methodology – Hair Removal Wax Market

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global hair removal wax market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global hair removal wax market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the hair removal wax market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from hair removal wax market industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global hair removal wax market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global hair removal wax market more reliable and accurate.

Hair Removal Wax Market – Segmentation

TMR’s study on the global hair removal wax market includes information categorized into eight sections ? type, ingredient, skin type, coverage, pricing, end user, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the hair removal wax market are discussed in detail.

Type
  • Soft Wax
    • Cream
    • Gel
    • Pre-made Wax Strips
    • Others
  • Hard Wax
    • Beads
    • Others
Ingredient
  • Organic
  • Synthetic
Skin Type
  • Dry skin
  • Oily Skin
  • Normal Skin
  • Sensitive Skin
  • Others
Coverage
  • Face
  • Body/Arms/Legs
  • Bikini
Pricing
  • High
  • Medium
  • Low
End User
  • Men
  • Women
Distribution Channel
  • Online
    • Company-owned Websites
    • eCommerce Websites
  • Offline
    • Hypermarkets & Supermarkets
    • Specialty Stores
    • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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Hair Removal Wax Market

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