GITNUX MARKETDATA REPORT 2024

The Most Surprising Waxing Industry Statistics And Trends in 2024

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The global waxing industry is a rapidly growing market, with the hair removal wax market expected to reach USD 11,810.9 million by 2028 and experience a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. In 2020, North America contributed the highest revenue in this sector at 44.58%, while Europe held the second-largest share with over $1.1 billion in sales that same year. The soft wax segment accounted for 84.6% of total market size in 2020 and is projected to remain dominant through 2026 due to its affordability and ease of use compared to other types of hair removal products such as hard or sugar waxes which are gaining popularity among consumers worldwide at an impressive 30% annual growth rate since 2017 according to recent reports on men’s grooming trends..

In addition, statistics show that there are currently more than 17 thousand businesses providing professional services related to hair removal across the United States alone where revenues have grown 5%.5 percent annually between 2016 and 2021 reaching nearly $7 billion dollars last year; 69 thousand individuals employed within this industry also contribute significantly towards economic development nationwide making it one of most profitable beauty sectors today especially amongst young women aged 16 – 24 who participate actively in monthly treatments representing 57 %of all users back 2014 . All these facts point out how important understanding current trends can be when considering investing into any business venture related directly or indirectly with Waxing Industry Statistics

The Most Important Statistics
The global waxing industry is expected to reach a market size of USD 11,810.9 million by 2028.

This statistic is a testament to the waxing industry’s potential for growth and success. It shows that the industry is expected to expand significantly over the next decade, indicating that it is a lucrative and viable business opportunity. This is an important piece of information for anyone interested in the waxing industry, as it provides a glimpse into the future of the industry and the potential for success.

The global waxing industry is experiencing a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028.

This statistic is a testament to the waxing industry’s impressive growth trajectory. It shows that the waxing industry is expanding at a rapid rate, with a CAGR of 7.6% from 2021 to 2028. This indicates that the waxing industry is a lucrative and promising sector for entrepreneurs and investors alike. It also suggests that the waxing industry is likely to continue to grow in the coming years, making it an attractive option for those looking to start a business or invest in the industry.

Waxing Industry Statistics Overview

In 2020, North America contributed the highest revenue in the hair removal wax market at 44.58%.

This statistic is a testament to the immense potential of the waxing industry in North America. It highlights the fact that the region is a major player in the hair removal wax market, and that businesses in the area have a great opportunity to capitalize on this lucrative industry. Furthermore, it serves as a reminder that the waxing industry is a viable option for entrepreneurs looking to make a profit.

The soft wax segment held the largest market share in the waxing industry, accounting for 84.6% of the market in 2020.

This statistic is a powerful indicator of the waxing industry’s current state, showing that the soft wax segment is the dominant force in the market. It is clear that this segment is the most popular choice among consumers, and this data can be used to inform decisions about how to best serve the needs of the waxing industry. Furthermore, this statistic can be used to inform marketing strategies, as it provides insight into what types of waxing products are most in demand.

The U.S. waxing salon industry is currently worth more than $6.9 billion.

This statistic is a testament to the immense success of the waxing salon industry in the United States. It speaks to the fact that waxing salons have become an integral part of the beauty industry, and that they are a lucrative business venture. This statistic is a clear indication that the waxing industry is thriving and that it is an important part of the economy.

In 2021, the hair waxing salon industry in the U.S. experienced a growth of 5.5%.

This statistic is a testament to the waxing salon industry’s resilience and success in the face of a tumultuous year. It shows that despite the challenges of the pandemic, the industry was able to maintain a steady growth rate, indicating that it is a viable and profitable business. This is an encouraging sign for those looking to invest in the waxing salon industry, as it suggests that the industry is likely to continue to grow in the future.

There are over 69,000 individuals employed in the U.S. hair waxing salon industry.

This statistic is a testament to the size and scope of the U.S. hair waxing salon industry. It shows that the industry is a major employer, providing jobs to thousands of individuals across the country. This is an important indicator of the industry’s economic impact and its importance to the overall economy.

There are over 17,000 businesses providing waxing services in the United States.

This statistic is a testament to the sheer size of the waxing industry in the United States. It shows that waxing services are in high demand and that there is a large market for them. This indicates that the waxing industry is a viable and profitable business opportunity for entrepreneurs. Furthermore, it demonstrates that the waxing industry is a growing and dynamic sector of the economy.

The U.S. waxing industry revenue is predicted to grow at an annualized rate of 2.6% from 2021 to 2026.

This statistic is a key indicator of the waxing industry’s potential for growth in the coming years. It provides insight into the industry’s trajectory and can be used to inform decisions about investments, marketing strategies, and other business operations. By understanding the expected rate of growth, businesses can better plan for the future and capitalize on the waxing industry’s potential.

In 2018, 48.2% of women in the U.S. aged 18 to 24 years used beauty wax products.

This statistic is a telling indication of the waxing industry’s success in targeting young women. It shows that the industry has been able to capture a large portion of the 18-24 year old female demographic, suggesting that waxing products are popular among this age group. This is an important statistic to consider when discussing the waxing industry, as it provides insight into the industry’s current market share.

46% of women prefer waxing as their primary hair removal method.

This statistic is a powerful indicator of the popularity of waxing as a hair removal method among women. It shows that waxing is a preferred choice for many women, and thus provides a strong foundation for the waxing industry. This statistic is an important piece of evidence that can be used to demonstrate the success of the waxing industry and its potential for growth.

Revenue for the global hair removal wax market is expected to reach nearly $19.2 billion by 2026.

This statistic paints a vivid picture of the potential of the waxing industry. It shows that the market is growing and that there is a great opportunity for businesses to capitalize on this growth. With the expected revenue of nearly $19.2 billion by 2026, it is clear that the waxing industry is a lucrative one and that there is plenty of room for growth.

The global waxing industry is expected to grow annually at a rate of 9.4% between 2018 and 2028.

This statistic is a testament to the waxing industry’s potential for growth in the coming years. It indicates that the waxing industry is likely to experience a steady increase in demand, making it an attractive option for entrepreneurs and investors alike. This could be a great opportunity for those looking to capitalize on the waxing industry’s potential for success.

In 2020, Europe held the second-largest revenue share in the global waxing industry, with a market size of over $1.1 billion.

This statistic is a testament to the waxing industry’s success in Europe, showing that it is a lucrative and growing market. It is a clear indication that waxing is becoming increasingly popular in the region, and that the industry is well-positioned to continue to expand in the future. This is an important point to consider when discussing waxing industry statistics, as it demonstrates the potential for growth in the sector.

Hair removal wax strips held a market share of 23.6% in the waxing industry in 2020.

This statistic is a telling indication of the waxing industry’s current landscape. It reveals that hair removal wax strips are a major player in the waxing industry, with a significant portion of the market share. This statistic is an important piece of information for anyone looking to gain insight into the waxing industry and its trends.

The global hair removal wax consumables market is expected to be worth $272.76 million by 2025.

This statistic paints a vivid picture of the potential of the waxing industry in the coming years. It shows that the market for waxing consumables is expected to grow significantly, indicating that the industry is likely to experience a surge in demand. This could be a great opportunity for businesses in the waxing industry to capitalize on the growing market and expand their operations.

Men’s grooming products, including men’s hair removal products, have seen a growth rate of 5% between 2017 and 2019.

This statistic is a testament to the increasing popularity of waxing and other men’s grooming products. It shows that the waxing industry is growing and that more men are taking an interest in their personal grooming. This is an encouraging sign for the industry, as it indicates that there is a growing demand for waxing services and products. Furthermore, this statistic can be used to inform marketing strategies and help businesses better understand their target audience.

Sugar waxing is gaining in popularity, with an annual growth rate of 30% for the past three years.

This statistic is a clear indication that sugar waxing is becoming increasingly popular, with a steady increase in demand over the past three years. This is an important trend to note for anyone interested in the waxing industry, as it suggests that sugar waxing is a viable option for businesses to consider when looking to expand their services.

In 2014, 57% of young women aged from 16 to 24 participated in hair removal at least once a month.

This statistic is a telling indication of the waxing industry’s success in capturing the attention of young women. It shows that waxing is a popular choice among this demographic, and that the industry is likely to continue to grow in the future. This is an important statistic for anyone interested in the waxing industry, as it provides insight into the current market and potential for future growth.

Conclusion

The global waxing industry is a rapidly growing market, with the hair removal wax market expected to reach USD 11,810.9 million by 2028 and experience a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. North America contributed the highest revenue in 2020 at 44.58%, while Europe held the second-largest share with over $1.1 billion that same year. The soft wax segment accounted for 84.6% of the total market size in 2020, followed by strips which had 23%. In addition, men’s grooming products have seen an increase in popularity as well as sugar waxing which has experienced 30% growth annually for three years now; this indicates that there are more people turning towards these services than ever before – especially young women aged 16 to 24 who participated in hair removal once per month back in 2014 according to Mintel research data . With all these factors taken into consideration it can be concluded that despite some fluctuations due to external economic conditions such as COVID-19 pandemic ,the future outlook of this industry looks promising and will continue its steady rise throughout 2021 and beyond.

References

0. – https://www.persistencemarketresearch.com

1. – https://www.researchandmarkets.com

2. – https://www.reportlinker.com

3. – https://www.apnews.com

4. – https://www.statista.com

5. – https://www.fortunebusinessinsights.com

6. – https://www.ibisworld.com

7. – https://www.grandviewresearch.com

8. – https://www.thestar.com.my

9. – https://www.web.archive.org

FAQs

What is the annual growth rate of the Waxing Industry?

The waxing industry has an annual growth rate of approximately 7.6%, with the potential for fluctuations depending on economic factors and consumer preferences.

What is the market size of the Waxing Industry?

The market size of the waxing industry is estimated to be around $11 billion, with increasing demand for professional hair removal services globally.

What are some popular services offered within the Waxing Industry?

Some popular services within the Waxing Industry include bikini waxing, Brazilian waxing, eyebrow shaping, facial waxing, and leg waxing, among others.

What are the target demographics for the Waxing Industry?

The target demographics for the Waxing Industry are primarily women aged 18-65, with some services appealing to men as well. Usage tends to increase among higher-income individuals due to disposable income levels and the frequency of treatments.

What factors are contributing to the growth of the Waxing Industry?

Factors contributing to the growth of the waxing industry include increased disposable income, heightened emphasis on personal grooming and appearance, increased access to professional waxing services, and the rising popularity of specialized services like Brazilian waxing.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

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