The Latest Hair Removal Industry Statistics Explained
The global hair removal market size was valued at USD 1.32 Billion in 2020.
The statistic “The global hair removal market size was valued at USD 1.32 Billion in 2020” indicates the total revenue generated from the sales of hair removal products and services worldwide during the year 2020. This figure represents the collective economic value of the market, including products such as razors, electronic hair removal devices, waxing kits, hair removal creams, and professional salon treatments. The size of the hair removal market at USD 1.32 Billion reflects the demand for grooming and beauty products aimed at removing unwanted body hair, highlighting the significant consumer interest and spending in this industry on a global scale.
The global hair removal market is projected to reach $3.4 billion, at a CAGR of 15.2% by 2026.
This statistic indicates that the global hair removal market, which includes products and services related to removing body hair, is expected to grow significantly over the forecast period. Specifically, the market is projected to reach a value of $3.4 billion by 2026, with a compound annual growth rate (CAGR) of 15.2%. This suggests a strong and steady increase in demand for hair removal products and services worldwide, driven by factors such as evolving beauty standards, advancements in technology, and increasing disposable income. The high CAGR further signifies the potential for continued expansion and opportunities for businesses operating in the hair removal industry to capitalize on this growing market.
North America dominated the global hair removal market with a share of 35.9% in 2020.
This statistic indicates that in 2020, North America held a significant market share of 35.9% in the global hair removal market, showcasing dominance within the industry. This means that a substantial portion of hair removal products and services worldwide were consumed within North America. Factors contributing to this dominance could include the region’s large population, higher disposable income levels, and a culture that values personal grooming and beauty standards. Businesses operating in the hair removal market can use this information to tailor their strategies to target the North American market more effectively and capitalize on the region’s strong demand for hair removal products and services.
The energy-based devices segment held the largest market share, over 40%, and is expected to continue dominating through to 2027.
This statistic essentially indicates that within the market for medical devices, the energy-based devices segment currently holds the largest market share, accounting for over 40% of the total market. Additionally, it is projected that this specific segment is poised to maintain its dominance and continue leading the market through the year 2027. This suggests that energy-based devices, which encompass technologies such as lasers, radiofrequency devices, and ultrasound systems used for various medical purposes, are highly in demand and favored by consumers, healthcare providers, and other stakeholders for their efficacy, versatility, and potential for driving positive outcomes in patient care. The ongoing preference and anticipated growth of this market segment signify a key trend and opportunity for businesses operating within the medical device industry to focus on developing and offering innovative energy-based devices to meet the evolving needs and demands of the healthcare market.
Hair removal treatments make up about 18% of spa services in the US.
The statistic that hair removal treatments make up about 18% of spa services in the US indicates the proportion of all services offered by spas that are related to hair removal. This means that out of all the treatments and services provided by spas across the country, approximately 18% are specifically focused on hair removal. This statistic suggests that hair removal is a popular and in-demand service among consumers seeking spa treatments, highlighting the significance of hair removal services within the spa industry. Spa businesses may use this information to tailor their service offerings to meet the preferences and needs of their clients, potentially adjusting their marketing strategies or expansion plans to capitalize on the demand for hair removal treatments in the market.
In 2016, women spent an average of $10,207 in their lifetime on hair removal.
The statistic suggests that, on average, women spent a total of $10,207 over the course of their lifetime on hair removal services in the year 2016. This figure includes expenses related to various hair removal methods such as waxing, shaving, laser treatments, or professional salon services. The statistic highlights the significant financial investment women make towards grooming and personal care routines, and it underscores the societal expectations placed on women to maintain certain beauty standards. Additionally, the statistic can serve as a basis for understanding consumer behavior and market trends within the beauty industry.
The Asia Pacific region is expected to exhibit the fastest growth rate of 7.77% from 2019 to 2026 due to increasing customer base and high disposable income.
This statistic indicates that the Asia Pacific region is projected to experience significant expansion with a growth rate of 7.77% within the period of 2019 to 2026. This growth is attributed to the escalating customer base and the rise in disposable income within the region. The increasing customer base suggests a growing market demand for products and services, while the higher disposable income levels signify greater purchasing power among consumers, leading to increased economic activity. The faster growth rate in the Asia Pacific region compared to other regions implies potential opportunities for businesses and investors to target this market for potential growth and investment returns.
Laser hair removal treatments are expected to witness significant growth of 8.25% during the forecast period.
The statistic indicates that the market for laser hair removal treatments is projected to experience substantial growth at a rate of 8.25% during the specified forecast period. This growth rate signifies an increasing demand for laser hair removal services, potentially driven by factors such as changing beauty standards, technological advancements in the laser hair removal industry, and a growing consumer preference for long-lasting hair removal solutions. The expected growth rate of 8.25% suggests a healthy expansion of the market for laser hair removal treatments, highlighting a positive trend for businesses operating in this sector and signaling opportunities for investment and market expansion.
The hair removal wax product market was valued at $9.1 Billion in 2018.
The statistic that the hair removal wax product market was valued at $9.1 billion in 2018 provides a quantitative measure of the total market size and economic significance of this specific industry. This figure indicates the total dollar value of all the products sold within the hair removal wax market during the year 2018. The substantial valuation of $9.1 billion suggests a high level of consumer demand for hair removal wax products, reflecting a prevalent grooming trend and the willingness of consumers to invest in such products. This statistic is important for market analysts, investors, and industry professionals to assess the growth potential and profitability of the hair removal wax market.
The hair removal wax market is projected to reach $18.8 Billion by 2026.
The statistic indicates that the global hair removal wax market is forecasted to grow and achieve a total market value of $18.8 billion by the year 2026. This projection suggests a significant expansion in the demand and consumption of hair removal wax products over the next few years. Factors contributing to this anticipated growth include changing beauty trends, increasing focus on personal grooming, and technological advancements in hair removal products. The estimated market value serves as a valuable insight for industry players, investors, and other stakeholders interested in the hair removal wax market, providing them with an indication of potential opportunities and market size to inform their business strategies and decisions.
In the UK, 75% of men aged 16-24 do some form of hair removal.
The statistic suggests that a significant proportion, specifically 75%, of young men aged 16 to 24 in the UK engage in some type of hair removal practice. This could encompass various methods such as shaving, waxing, or using hair removal creams. The high percentage indicates that the practice of hair removal is quite common among this demographic, challenging traditional gender norms that associate hair removal primarily with women. This trend may reflect changing societal attitudes towards grooming and self-care among young men in the UK. The statistic provides insight into evolving beauty standards and self-image perceptions among younger male populations in the region.
Among women, 83% of the 18-24 age group go for hair removal.
The statistic “Among women, 83% of the 18-24 age group go for hair removal” indicates that the vast majority, specifically 83 out of 100, of women aged 18 to 24 engage in hair removal practices. This statistic suggests a high prevalence of hair removal behaviors within this particular demographic. It is essential to note that this statistic provides insight into the grooming habits of young women and implies a significant societal influence or personal preference for hair removal among individuals in this age group. The finding can be helpful for businesses in the beauty industry to tailor products or services targeting this specific demographic.
The retail sales for women’s razors in the US was estimated at 5.9 billion dollars in 2019.
This statistic indicates that the total value of retail sales specifically for women’s razors in the United States amounted to approximately 5.9 billion dollars in the year 2019. This figure represents the amount of revenue generated from the sales of women’s razors in various retail outlets across the country during that year. The statistic highlights the significant market size and consumer demand for women’s razors in the US, reflecting the importance of personal grooming products in the retail industry. Such data can be used by manufacturers, retailers, and market analysts to understand market trends, consumer preferences, and the overall performance of the women’s razor market segment in the US.
The global hair removal devices market is projected to expand at a CAGR of 14.7% during 2020-2030.
This statistic indicates that the global hair removal devices market is expected to experience significant growth over the period from 2020 to 2030, with a compound annual growth rate (CAGR) of 14.7%. This means that on average, the market is projected to increase by 14.7% each year over the specified timeframe. The high CAGR suggests a robust demand for hair removal devices, potentially driven by factors such as changing beauty standards, technological advancements, increasing disposable income, and a growing focus on personal grooming. This growth projection signifies opportunities for businesses operating in the hair removal devices market to capitalize on the increasing demand and expand their market presence.
Laser devices are anticipated to witness a lucrative growth rate of over 8% from 2019 to 2025.
The statement indicates that the market for laser devices is expected to experience significant growth, with a projected average annual growth rate of over 8% between 2019 and 2025. This suggests that there is increasing demand for laser devices across various industries such as healthcare, manufacturing, and communication. The higher growth rate is promising for companies involved in the production and distribution of laser devices, as it suggests potential opportunities for increased sales and profitability in the coming years. This statistic reflects a positive outlook for the laser device industry and highlights the growing significance of laser technology in the global market.
IPL (Intense Pulsed Light) devices dominated the hair removal market share in 2018, contributing to over 40% revenue.
The statistic indicates that IPL (Intense Pulsed Light) devices were the most prevalent and popular technology in the hair removal market in 2018, making up over 40% of the total revenue generated by the industry during that year. This dominance suggests that consumers and skin care professionals favored IPL devices for their effectiveness in removing unwanted hair compared to other hair removal methods. The high market share of IPL devices underscores their significance and success in meeting the demand for efficient and reliable hair removal solutions in 2018.
In 2018, the hair removal services market was worth $1.1 billion in revenue in Australia.
The statistic indicates that in the year 2018, the market for hair removal services in Australia generated a total revenue of $1.1 billion. This figure represents the collective amount of money spent by consumers on various hair removal services such as waxing, laser treatments, threading, and shaving in Australia during that year. The revenue generated by the hair removal services industry reflects the demand for such services in the market, suggesting that there is a considerable market size and consumer interest in maintaining personal grooming and appearance through hair removal solutions. Additionally, this statistic provides valuable insights into the economic significance and growth potential of the hair removal services sector within the beauty and personal care industry in Australia.
The hair removal services industry in the US has grown by 4.3% to reach revenue of $596 million in 2018.
The statistic indicates that the hair removal services industry in the US experienced a growth rate of 4.3% in 2018, resulting in a total revenue of $596 million for that year. This growth rate suggests an increasing demand for hair removal services among consumers, leading to a higher overall revenue generated by businesses within this industry. Factors such as changing beauty trends, advancements in technology, and a growing emphasis on personal grooming may have contributed to this growth. The statistic reflects a positive trend for businesses offering hair removal services, highlighting the potential opportunities for expansion and profitability within the industry.
References
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