The Latest Hair Removal Products Industry Statistics Explained
The global hair removal products market size was valued at $2.3 billion in 2020.
The statistic suggests that the total market value for hair removal products worldwide reached $2.3 billion in the year 2020. This figure represents the combined value of all sales within the hair removal products industry, including various types of products such as razors, waxing kits, hair removal creams, and laser devices. The size of the global market indicates a significant demand for hair removal solutions among consumers, reflecting various cultural and aesthetic preferences. The market size provides insight into the economic significance of the industry and serves as a key indicator for businesses operating within the hair removal products sector.
It is projected to register a CAGR of 5.5% from 2021 to 2028.
This statistic indicates that the variable being measured is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.5% from the year 2021 to the year 2028. CAGR is a widely used measure of the annual growth rate of an investment over a specified time period, assuming that the growth rate is constant. In this context, the projection suggests that the variable is expected to increase by an average of 5.5% each year during the specified time frame, demonstrating a positive long-term trend towards growth.
The North American region held the largest share of the hair removal products market in 2020 as it contributed to over 34.3% of the total revenue.
The statistic indicates that in 2020, the North American region was the dominant market for hair removal products, accounting for 34.3% of the total revenue generated globally in this industry. This suggests that demand for hair removal products was particularly strong in North America compared to other regions. Factors contributing to this market dominance could include a large consumer base, high disposable incomes, cultural norms emphasizing personal grooming, and effective marketing strategies by industry players. Companies operating in the hair removal products industry may want to focus their efforts on the North American market to capitalize on the region’s significant share and potential for growth.
Women accounted for 60% of the demand for hair removal products in 2020.
In 2020, women accounted for 60% of the demand for hair removal products, indicating a significant preference for these products among women. This statistic highlights a trend where women are more likely to purchase and use hair removal products compared to men. Factors such as societal norms, personal grooming preferences, and beauty standards may contribute to this disparity in demand. Understanding and recognizing this gender difference in purchasing behavior can help businesses in the beauty and personal care industry tailor their marketing strategies and product offerings to effectively target this key demographic.
Asia Pacific is expected to expand at the fastest CAGR of 7.1% from 2021 to 2028.
The statement indicates that the Asia Pacific region is projected to experience the highest Compound Annual Growth Rate (CAGR) among all regions from 2021 to 2028. A CAGR of 7.1% implies that the economy in the Asia Pacific region is expected to grow at an average annual rate of 7.1% over the specified time period. This growth rate suggests a relatively rapid expansion compared to other regions, signifying strong economic potential and indicating favorable conditions for investment and business opportunities in the Asia Pacific region during the forecasted period.
By product, razors and blades segment accounted for more than 35.0% share of the global revenue in 2020.
The statistic “By product, razors and blades segment accounted for more than 35.0% share of the global revenue in 2020” indicates that within the industry being analyzed, the razors and blades product category contributed significantly to the overall revenue. Specifically, this segment generated more than 35.0% of the total global revenue for the industry in the year 2020. This suggests that razors and blades are a significant and lucrative product category within the market, showcasing a strong consumer demand and market presence compared to other products. Companies operating in this industry may therefore focus on this segment to capitalize on its high revenue contribution and market potential.
Electronic Hair Removal segment is expected to register the highest CAGR of 6.3% from 2021 to 2028.
This statistic indicates that the Electronic Hair Removal market is projected to experience a Compound Annual Growth Rate (CAGR) of 6.3% from 2021 to 2028, which suggests a significant increase in market size and demand for electronic hair removal products over this period. A high CAGR for this segment implies that the market is expected to grow at a relatively faster rate compared to other segments within the same industry. This growth rate reflects rising consumer interest in convenient and effective hair removal solutions, as well as technological advancements and innovations in electronic hair removal devices. Overall, the forecasted CAGR of 6.3% highlights the potential for strong expansion and opportunities within the Electronic Hair Removal market in the coming years.
Among the distribution channels, the supermarkets/hypermarkets segment led the market, accounting for over 35.6% share of the total revenue in 2020.
This statistic indicates that in 2020, the supermarkets/hypermarkets distribution channel held the highest market share in terms of revenue compared to other distribution channels. Specifically, it accounted for over 35.6% of the total revenue generated within the market. This suggests that consumers predominantly made their purchases through supermarkets and hypermarkets as opposed to other channels such as online retail, specialty stores, or direct sales. The strong performance of supermarkets and hypermarkets highlights their significance in the distribution network and signals their popularity among consumers for purchasing goods within the market in question for the specified year.
Online distribution channel is expected to register the highest CAGR of 6.8% from 2021 to 2028.
The statistic indicates that the online distribution channel is projected to experience the highest Compound Annual Growth Rate (CAGR) of 6.8% between the years 2021 and 2028. This suggests that online sales and distribution platforms are forecasted to see significant growth and potentially outperform other distribution channels during this period. Factors contributing to this growth could include a shift in consumer behavior towards online shopping, advancements in technology improving the e-commerce experience, and increasing internet penetration leading to a wider reach for online retailers. This statistic highlights the importance of adapting to the digital landscape in the distribution sector and the potential opportunities for businesses operating in the online space.
Key players in the hair removal market include Procter & Gamble, Edgewell Personal Care, Reckitt Benckiser.
The statistic highlights key players in the hair removal market, specifically mentioning Procter & Gamble, Edgewell Personal Care, and Reckitt Benckiser. These companies are significant players in the industry, known for their popular hair removal products and brands. Procter & Gamble, Edgewell Personal Care, and Reckitt Benckiser likely have a strong market presence, extensive distribution networks, and significant market share within the hair removal industry. As key players, they are likely to influence market trends, drive innovation, and compete for consumer loyalty through their diverse range of hair removal products and marketing strategies.
Laser hair removal industry generated a revenue of $1.35 billion in 2019.
The statistic indicates that the laser hair removal industry brought in a total revenue of $1.35 billion in the year 2019. This figure represents the total amount of money generated by businesses offering laser hair removal services across the industry during that year. The significant revenue amount suggests that there is a high demand for laser hair removal services, likely driven by factors such as the growing popularity of grooming and beauty treatments, advancements in laser technology making treatments more effective and accessible, and the increasing focus on self-care and personal appearance. The statistic highlights the economic significance of the laser hair removal industry and its potential for further growth and development in the future.
Hair removal creams segment is anticipated to experience a growth rate of 6.7% through 2027.
The statistic indicates that the market for hair removal creams is expected to grow at a rate of 6.7% annually up to the year 2027. This growth rate suggests an increasing demand for hair removal creams, likely driven by factors such as changing beauty standards, a growing emphasis on personal grooming, and advancements in product formulations. The projection implies that consumers are likely to continue to seek out hair removal solutions, leading to an expansion in the market for these products over the next few years. This growth rate can serve as a valuable insight for companies operating in the hair removal cream industry, informing their strategic decisions and marketing efforts to capitalize on this anticipated growth trend.
In terms of distribution channels, the hair removal products market is expected to witness the fastest growth in online segment, with a CAGR of 7.2% by 2027.
This statistic suggests that within the hair removal products market, the segment experiencing the most rapid growth in terms of distribution channels is online sales. The Compound Annual Growth Rate (CAGR) of 7.2% projected for the online segment indicates the expected annual growth rate of sales over a specific time period, in this case until 2027. This trend implies that consumers are increasingly opting to purchase hair removal products online compared to traditional brick-and-mortar stores. Factors contributing to this growth may include the convenience of online shopping, a wider product selection, competitive pricing, and the increasing prevalence of e-commerce platforms. This trajectory underscores the importance for businesses in the hair removal industry to prioritize their online presence and develop effective digital marketing and sales strategies to capitalize on this potential growth opportunity.
Approximately 84.7% of the global female population remove body hair.
The statistic that approximately 84.7% of the global female population remove body hair suggests that a majority of women worldwide engage in the practice of removing body hair. This statistic indicates a widespread cultural norm or societal expectation for women to remove body hair, which could be influenced by a variety of factors such as beauty standards, personal preferences, cultural norms, or socio-economic status. Understanding the prevalence of body hair removal among women globally can provide insights into societal attitudes towards grooming practices and beauty standards across different regions and populations.
More than 80% of millennial men say they remove their body hair.
The statistic “More than 80% of millennial men say they remove their body hair” indicates that a significant majority of men belonging to the millennial generation report engaging in body hair removal practices. This could suggest a cultural shift towards greater grooming and personal grooming standards among millennial men compared to previous generations. The statistic highlights a changing attitude towards male grooming and body image, reflecting evolving societal norms and preferences. Furthermore, it may also indicate a growing market for grooming products and services targeted towards men, as more individuals are investing time and resources into grooming and personal care routines.
From 2019 to 2026, the shaving lotions and creams segment is projected to grow at a CAGR of 6.1%.
This statistic indicates that the shaving lotions and creams segment is expected to experience continuous compounded annual growth at a rate of 6.1% from 2019 to 2026. This means that over the specified period, the sales revenue or market size of shaving lotions and creams is forecasted to increase at a steady pace of 6.1% each year. The CAGR (Compound Annual Growth Rate) is a useful metric for assessing the performance and potential of a market segment, as it takes into account the effect of compounding growth over multiple periods, providing a more accurate representation of growth trends compared to simple annual growth rates.
The global laser hair removal device market is expected to reach $3.9 billion by the year 2026.
The statistic that the global laser hair removal device market is projected to reach $3.9 billion by 2026 indicates a significant growth trajectory for this industry in the coming years. This figure reflects a growing demand for laser hair removal devices worldwide as people increasingly seek more efficient and long-lasting methods of hair removal. Factors such as advancements in technology, a rising focus on personal grooming, and a shift towards non-invasive cosmetic procedures are likely driving this market expansion. The substantial market size forecasted for 2026 suggests a lucrative opportunity for companies operating in the laser hair removal device sector, as well as potential benefits for consumers seeking access to innovative hair removal solutions.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.statista.com
3. – https://www.www.globenewswire.com
4. – https://www.www.prnewswire.com
