Hair Removal Wax Market Report

Global Hair Removal Wax Market by Product Type (Soft Wax and Hard Wax); By Application (Individual and Commercial); By Distribution Channel (Online and Offline); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: May 2021
  • Report ID: BWC20346
  • Available Format: PDF
  • Page: 158

Report Overview

The global Hair removal wax market was worth USD 7.45 billion in 2020 and is further projected to reach USD 15.0 billion by 2027 at a CAGR of 10.8% during the forecast period (2021-2027).

The Global Hair Removal Wax Market- Industry Trends & Forecast Report 2027

The global Hair removal wax market was worth USD 7.45 billion in 2020 and is further projected to reach USD 15.0 billion by 2027 at a CAGR of 10.8% during the forecast period (2021-2027). The rising importance of beauty, fashion trends, along with personal hygiene are the major factors driving the growth of the global hair removal wax market. Additionally, growing innovation in hair-removing products, such as pre-prepared strips, has also accelerated the market growth. Moreover, the global adoption of beauty products like hair removal wax has risen in tandem with the increase in disposable income. Other factors that are expected to drive the growth of the hair removal wax market include a shift in lifestyle and improved living standards.

Global Hair Removal Wax Market Overview:

Hair Removal wax is a specialized wax that is used to remove unwanted body and facial hair. It also helps to smooth out the skin and remove dead skin cells. Because of the changing perceptions of beauty over the last few decades, the global population has vigorously embraced hair removal wax. The product has grown in popularity over the years, especially among women, as a result of the promotion of flawless skin by social media, celebrities, and various fashion magazines.  Also, with the innovation of at-home depilating products like wax stripes, the market is estimated to undergo growth in the coming years.

Source: Blueweave consulting

 

Global Hair Removal Wax Market Trend

 

Growth drivers

The rise in the standard of living and per capita disposable income.

The purchasing power of the consumers, especially women, has increased significantly in recent years, enabling them to indulge in certain luxuries such as spending money in the salon for wax hair removal, which in turn increases the sales of wax in salons. These commercial salons, spas, and parlors catering to the needs of the millennial population buy a large portion of the hair removal wax sold in the industry. Furthermore, the increase in the number of working-class women has also aided market growth. Lifestyle changes, combined with millennials' desire to look beautiful, and adhere to modern beauty standards drive the growth of the hair removal wax industry, along with a rise in awareness for personal hygiene.

Launch of new innovative products

The major industry players are focusing their efforts on creating new products with unique fragrances and colors. Thus, continuous development of the product acts as a major growth driver of the global hair removal wax market. Soft wax strips, which can be used at home, have witnessed immense popularity due to their ease of use and suitability for customers who have a busy schedule and cannot afford salon visits.

Moreover, due to the growing demand for natural products among wellness-conscious consumers, manufacturers are now investing in R&D to develop new products such as organic hair removal wax with natural ingredients. At-home beauty kits, which include other grooming items in addition to  hair removal wax, have also contributed to the market's substantial growth.

Restraints

The rise in the number of substitute depilating methods.

Waxing is the method of removing hair from the root. The procedure is no doubt, incredibly painful. As a result, less painful solutions, such as chemical hair removal creams and razors, are gaining popularity. These methods are often less time-consuming and easier to use, and therefore, ideal for people who cannot spare enough time for self-maintenance. Also, methods like sugaring are gaining popularity worldwide due to customer preference for natural ingredients. Furthermore, the rising popularity of permanent hair removal by laser hair removal treatments poses a challenge to this industry.

Impact of COVID-19

COVID-19 has impacted almost industry, including beauty and hygiene. The implementation of lockdown has resulted in the closing of the spas and salons all over the globe. Since salons and spas were among the most frequent users of hair removal wax, their closure has resulted in a drop in the price of commercially purchased wax. Moreover, as a result of the lockdown, the wax supply chain has been disrupted, resulting in product shortages throughout the economy. However, ready-to-use waxing strips for home use have grown in popularity as a result of the pandemic as customers now choose to groom themselves in the comfort of their homes.

Global Hair Removal Wax Market by Product Type

This segment is divided into soft wax and hard wax. The soft wax segment can be further categorized into heated, cold, and pre-made. The hard wax segment is the largest owing to its commercial application in salons and spas. The majority of salons hard wax beads because they are available in bulk and are easier to store. A wax melting machine has to be purchased alongside these hard wax beads to melt them and use them appropriately.

The soft wax type, on the other hand, is the fastest-growing category, owing to the development of pre-made wax strips, which have become common among the working class of people who do not have enough time to visit a parlor. These strips are more convenient to use and come in a handy package. Over the pandemic, the demand for pre-made wax strips has risen dramatically.

Global Hair Removal Wax Market by Distribution Channel

Based on distribution channels, the global hair removal wax market can be divided into offline and online. Between these two, the offline segment holds the largest share due to the extremely effective distribution methods by the manufacturers. This effective distribution has led to the prompt availability of such waxes in beauty stores, supermarkets, and convenience stores. However, with the onset of the pandemic, the online segment has been growing at a rapid rate as customers are now relying on online buying platforms for the majority of their needs.

Global Hair Removal Wax Market by Application

Based on applications, the market can be grouped into two segments—individual and commercial. The commercial segment can further be divided into salons and spas. Owing to the massive increase in the number of salons and spas worldwide, the commercial segment holds the largest share. Because of the rise in the standard of living and the need for self-care, the number of such salons has increased, making the commercial segment the largest.

However, the fastest-growing segment is the individual segment due to the availability of innovative home waxing kits and pre-made wax strips which are perfect for those who do not have time for salon visits.

Global Hair Removal Wax Market by Region

Based on region, the global hair removal wax market is segmented into North America, Europe, Asia-Pacific, Latin America, and The Middle East. Due to increasing advancements in hair removal methods, North America is projected to retain the largest share of the market. Also, the rising disposable income of the population is a major driver of market growth. Moreover, North America is also home to Hollywood—the world's entertainment capital, which is a major market for such products. Hollywood not only acts as a consumer but also as an important promoting agent for beauty standards not only domestically but globally.

Nevertheless, the fastest-growing market is The Asia-Pacific, owing to its large population in countries like India and China. Hair removal waxes are becoming increasingly popular in countries such as Japan, South Korea, and Australia as people are becoming more conscious about their personal appearance and maintenance.

Source: Blueweave consulting

 

Competitive Landscape

The hair removal wax market is very lucrative and attract s a lot of competitors. The major players in the global hair removal wax market are Church & Dwight Co., Inc., Coloris Cosmetics, FILO BIANCO S.r.l., GiGi, Harley Wax, Jax Wax Australia, Karaver, Kera-Ban Wax Products, Lee-Chem Laboratories, Marzena BodyCare, Inc., Parissa Laboratories Inc., PerronRigot, Reckitt Benckiser, Sally Hansen, Starpil Wax Co., Sue Ismiel and Daughters, The Darent Wax Company Ltd., Veet, Xanitalia, and other prominent players.

Recent Developments

  • In March 2021, 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.

  • In November 2019, Reckitt Benckiser (RB) has launched a hair removal cream for men under its brand Veet in India.

 

Scope of report

Attribute

Details

Years Considered

Historical Data – 2017-2020

Base Year- 2020

Forecast 2021-2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Mexico, Brazil, Japan, South Korea, China, India, Australia. UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Product Type, By Distribution Channel, By Application, By Region

Key Players

Church & Dwight Co., Inc., Coloris Cosmetics, FILO BIANCO S.r.l., GiGi, Harley Wax, Jax Wax Australia, Karaver, Kera-Ban Wax Products, Lee-Chem Laboratories, MarzenaBodyCare, Inc., Parissa Laboratories Inc., PerronRigot, Reckitt Benckiser, Sally Hansen, Starpil Wax Co., Sue Ismiel and sssDaughters, The Darent Wax Company Ltd., Veet, Xanitalia., and other prominent players.

 

 

By Product Type

  • Soft Wax
  • Heated
  • Cold
  • Pre-made strips
  • Hot Wax

By Distribution Channel

        • Offline
        • Online

By Application

        • Commercial
        • Salon
        • spa
        • Individual

By Region

        • North America
          • The U.S.
          • Canada
        • Europe
          • Germany
          • The U.K.
          • France
          • Italy
          • Spain
          • Rest of Europe
        • Asia-Pacific
          • China
          • Japan
          • India
          • South Korea
          • Australia
          • Rest of Asia Pacific
        • Latin-America
          • Mexico
          • Brazil
          • Rest of Latin America
        • Middle East & Africa
          • Saudi Arabia
          • U.A.E
          • South Africa
          • Rest of MEA

 

FAQs:

1.    What is the current size of the global hair removal wax market?

          Answer: The global hair removal wax market reached USD 7.45 billion in 2020.

2.    What are the major factors driving the growth of the global hair removal wax market?

Answer: The major driving forces are the improvement in the standard of living, growing per capita disposable income, and growing awareness of personal hygiene, as well as promotion via social media.

3.    Who are the key players in the global hair removal wax market?

Answer: Church & Dwight Co., Inc. (Nair), Coloris Cosmetics, FILO BIANCO S.r.l., GiGi, Harley Wax, Jax Wax Australia, Karaver, Kera-Ban Wax Products, Lee-Chem Laboratories (Mandy’s), MarzenaBodyCare, Inc., Parissa Laboratories Inc., PerronRigot, Reckitt Benckiser (Veet), Sally Hansen, Starpil Wax Co., Sue Ismiel and Daughters (Nad's), The Darent Wax Company Ltd., Veet,  Xanitalia, and other prominent players.

4.    Which application accounted for the largest share in the global hair removal wax market?

Answer: The commercial application segment held the largest market share.

5.    Which is the fastest-growing region in the global hair removal wax systems market?

Answer: The Asia-Pacific is growing at a higher rate in the global hair removal wax systems.