Hair Removal Products Market to Hit USD 4.94 Billion by 2027; Increasing Expenditure on Personal Grooming to Favor Growth

The global hair removal products market size is expected to experience an exponential growth by reaching USD 4.94 billion by 2027 owing to the increasing expenditure on personal grooming products across the globe. Fortune Business Insights, in its latest report, titled, “Hair Removal Products Market Size, Share & COVID-19 Impact Analysis, By Product (Creams, Ready to use Wax Strips, Electronic Devices, and Razors), By Gender (Men and Women), By End User (Dermatology Clinics and Beauty Clinics), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 4.01 billion in 2019 and is projected to exhibit a CAGR of 4.3% between 2020 and 2027.

Foreo Optimistic on the Launch of Intense Pulsed Light Device, Peace

In May 2020, Foreo, a Swedish skincare solutions provider, announced the launch of its new hair removal device, Peach. According to the company, the device adopts Intense Pulsed Light (IPL) that effectively removes body hair and rejuvenates the skin with lower operating costs than a laser. The device was launched by the company at Hyundai Duty-free shops in Korea.

Gary Leong, Director, Foreo Global Travel Retail, says, “Retailers are expecting the signs of recovery amid the global pandemic and gearing up for an optimistic summer season. Our action plan and strategy during the COVID-19 is anticipated to lead to retail activations that will boost the retail market in the near future.” The companies are poised to introduce an array of these products of hair removal to leverage the promising opportunities that are expected to bode well for the growth of the global hair removal products market in the forthcoming years.

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https://www.fortunebusinessinsights.com/hair-removal-products-market-103516

Increasing Expenditure on Personal Care Grooming Products to Propel Demand

High disposable income and increasing awareness about personal grooming are positively affecting the sales of personal care products. In addition to this, the increasing focus on personal hygiene and personal care amongst women is propelling the manufacturers to introduce innovative hair removal products across the globe. The surging e-commerce traffic is further anticipated to drive the global market in the forthcoming years. For instance, according to data shared by e-commerce platform Flipkart, hair removal products such as trimmers continue to be the top 10 most-searched grooming products, with a 4.5X spike in search volumes since April.

Major Companies Focus on Introducing New Products to Strengthen their Product Portfolio

The market comprises of several small, medium, and large companies striving to consolidate their position by introducing new hair removal products during the forecast period. Additionally, key players are adopting strategies such as merger and acquisition, collaboration, and partnership to strengthen their positions and gain a competitive edge in the global marketplace.

List of the Companies Operating in the Global Market:

• Cynosure, LLC. (Westford, MA, USA)


• Solta Medical, Inc (Bothell, Washington, USA)


• Lumenis (Yokne'am Ilit, Tsafon,Israel)


• Alma Lasers International (Israel)


• Candela Corporation( Wayland, Massachusetts, USA)


• Venus Concept (Toronto, Ontario, Canada)


• Hologic, Inc (Marlborough, MA, USA)


• Braun GmbH (Germany)


• Koninklijke Philips N.V., (Amsterdam, Netherlands)


• Samsung Electronics Co Ltd (Seoul, South Korea)

Industry Development:

• March 2019: Church & Dwight Co. Inc., announced the acquisition of Flawless and Finishing Touch brands, a prominent player in women electric hair removal product. According to the company, the acquisition is worth USD 475 million and is expected to strengthen its market position in the near future.

Further Report Findings:

• Europe is expected to dominate the market and hold the highest position in the global market. This is attributable to the high standard of living and the increasing women employment rate in the region. The market stood at USD 1.45 billion in 2019.


• The market in North America is likely to experience considerable growth in the forthcoming years. This is ascribable to factors such as the increasing expenditure on personal grooming products that are boosting the growth of several personal care businesses such as hair shaving salon, beauty salon, and other laser treatment services.


• The segment creams, based on product, is expected to gain momentum owing to the increasing consumption of the cream-based hair removal products that is effective in removing body hair.

Table of Segmentation: