Global Depilatory Products market was valued at US$6.398 billion in 2019. Depilatories are cosmetic products that are used to remove unwanted hair on the surface of the skin and are typically in the form of creams, lotions, gel, and powder. There is a huge difference between the epilator and depilator regarding hair removal. While epilation removes hair from its roots completely, depilation removes hair only at the surface of the skin. Depilatories are often considered more convenient and less expensive than opting for salon or spa treatments for hair removal. The chemical properties in depilatory products aid in the hair removal process by breaking down bonds in keratin present in hair that gives it strength. When the hair gets weakened, it either disintegrates or is distressed enough that it can be scraped or wiped away.
Rising disposable incomes and living standards coupled with increasing urbanization are significantly driving the market growth of depilatory products globally. People are getting more and more conscious with respect to personal grooming while enhancing the aesthetic appeal of themselves. As such, convenient depilatories products are gaining popularity among consumers who are looking for easy and quick options which, in turn, is fuelling the global market growth of depilatory products. Growing working women population with a busy lifestyle is further accelerating the demand for convenient grooming products, thereby driving the global depilatory products market growth. The emerging popularity of hair removal products, both chemical and non-chemical, among men is a great opportunity for market players to diversify their product portfolio for this gender and gain a larger market share which will continue to bolster the overall market growth of depilatory products across the globe during the forecast period. The recent COVID-19 pandemic outbreak has tremendously boosted the demand for depilatory products. Mandatory government lockdown and shutdown of salons and spa facilities have driven the demand for depilatory products among women which are convenient, cost-effective, and easy to use at home. Market players are continuously enhancing their product portfolio as per the requirement of their customers. Rising awareness about depilatory products infused with organic and natural ingredients is also encouraging market players to launch new products, thus positively impacting the market growth of depilatory products.
The Global Depilatory Products market has been segmented on the basis of type, application, sales channel, and geography. By type, the Global Depilatory Products market has been segmented as chemical and non-chemical. On the basis of application, the segmentation has been done as men and women. The Global Depilatory Products market has been also segmented by sales channel as online and offline.
Emerging male grooming market boosting the demand for depilatory products
By application, the women segment accounted for the major market share in 2019 and will continue to dominate this segment till the end of the forecast period. The need for quick and convenient hair removal solutions among the growing working women population base is continuously augmenting the demand for various depilatory products. High focus on personal hygiene and grooming among women has also driven the demand for depilatory products across this segment. However, the male grooming industry has recently started to get popularity which is boosting the demand for depilatory products across this segment as well, thus propelling the overall market growth.
Online sales channel segment to grow at a higher CAGR during the forecast period
By the sales channel, the online segment will experience a higher CAGR between 2020 and 2025 owing to the rising proliferation of smartphones and increasing penetration of high-speed internet connectivity across the globe. Factors such as easy payment options available and growing preference of customers to shop online is also encouraging manufacturers to offer their products at various online platforms, thus spurring the growth of this segment. Moreover, the current pandemic situation causes by COVID-19 has further accelerated the growth of this segment due to the temporary shutdown of supermarkets and hypermarkets in various affected countries.
Asia Pacific to witness the fastest regional market growth
Geographically, the global Depilatory Products market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Asia Pacific regional market for depilatory products is poised to grow at the highest CAGR during the forecast period owing to factors such as changing living standards with rising purchasing power, rising adoption of Western consumer practices, and growing concerns regarding personal hygiene and grooming among men and women. The booming e-commerce industry in countries like China and India also contributes substantially to the depilatory product's market across this region. With high smartphone penetration and better internet connectivity, people are choosing more to do online shopping as it is convenient and cost-effective and also provide various international depilatory products customers can choose from at discounted rates. North America holds a significant share in the global depilatory products market on account of the early adoption of new trends and technologies coupled with the presence of major market players in the region. Europe also accounts for a decent market share owing to a high focus on personal grooming and hygiene among both men and women.
Prominent key market players in the Global Depilatory Products market include CHURCH & DWIGHT CO., INC., L’Oréal Paris, Cire France, Reckitt Benckiser, Linco Care Ltd, SIMPLE USE Beauty, Procter & Gamble, Jolen Beauty, Nad's, and Sally Hansen. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Global Depilatory Productsmarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.