Hair Removal Wax Market is Poised to Reach US$ 18.4 Billion by 2033: Fact.MR Study

Rockville, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The global Hair Removal Wax Market stands at US$ 10.19 billion in 2023, as per a newly published research report by Fact.MR, a market research and competitive intelligence provider. Worldwide sales of hair removal wax are forecasted to increase at a CAGR of 6% through 2033. At present, hair removal wax is becoming a crucial part of the cosmetics & personal care industry.

Now not only women but also men are becoming more conscious about their physical appearance. Many people choose to remove unnecessary hair from the body for different reasons, including medicinal, cultural, aesthetic, and social. Over the years, a wide variety of treatments have been created for hair removal, including methods for permanent as well as temporary hair removal. The majority of them are accessible at home and some others need professional salons only.

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Key Segments of Hair Removal Wax Industry Research Report

Key Takeaways from Market Study

• The global hair removal wax market was valued at US$ 9.61 billion in 2022.
• The United States market reached US$ 2.61 billion in 2022.
• Worldwide demand for hair removal wax is estimated to be valued at US$ 10.19 billion in 2023.
• The global market is anticipated to reach US$ 18.4 billion by the end of 2033.
• Sales of hair removal wax are projected to advance at a CAGR of 6% from 2023 to 2033.
• Worldwide demand for soft wax is predicted to rise at 6.8% CAGR and reach a market size of US$ 10.6 billion by 2033-end.
• The market in China is forecasted to expand at 9.7% CAGR and reach US$ 3.51 billion by 2033.
• Sales of hair removal wax in Japan are projected to rise at a CAGR of 3.2% through 2033.

"Growing penetration of the Internet along with rising popularity of spas & salons owing to strategic online marketing is positively influencing the demand for hair removal wax," says a Fact.MR analyst.

Increasing Spending Capacity of Working Women on Luxuries

Increasing purchasing power of consumers, particularly women, is rising, enabling them to spend on indulgences such as hair removal services in salons. Further, the rising number of working women across geographies is also contributing to the expansion of the industry, as they are conscious about their appearance and spend more on personal care and grooming products.

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Competitive Analysis in the Hair Removal Wax Industry

Hair removal wax suppliers are strategically pursuing various tactics to achieve their objectives, such as maintaining stringent quality control measures, introducing innovative products, optimizing supply chain management, and more. Market participants are making substantial investments in product advancements, allowing them to expand their market presence globally.

For example:

• On March 8, 2021, American International Industries introduced the Italwax Solo Glowax Kit, an innovative solution tailored for facial hair removal. This versatile product serves both professional salons and home users alike. Specifically designed for sensitive skin, the kit incorporates a multidirectional application approach. Notably, it places a strong emphasis on hygiene within the hair removal domain, offering consumers a sanitary and highly effective solution.
  

Leading Market Players

Prominent manufacturers of hair removal wax include American International Industries, Coloris So. Z.o.o., Church & Dwight Co., Harley Waxing UK, GiGi, Jax Wax Australia, Marzena BodyCare Products, Karaver, Parissa Laboratories Inc., Reckitt Benckiser Group PLC, Perron Rigot, Sally Hansen Inc., The Darent Wax Co., Sue Ismiel and Daughters (Nad's), Starpil Wax Co., Xanitalia Srl, and FILO BIANCO S.r.l.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the hair removal wax market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on type (soft wax, hot wax), ingredient (synthetic, organic), gender (women, men), and distribution channel (offline, online), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).

Checkout More Related Studies Published by Fact.MR Research:

Hair Grooming Products Market: In 2023, the global hair grooming products market is valued at US$ 23.1 billion and is predicted to attain a revenue value of US$ 37.2 billion by the end of 2033, expanding at a CAGR of 4.9% over the next ten years.

Hair Dye Market: The valuation of the global hair dye market is US$ 22.25 billion in 2023. The market is forecasted to reach US 35.22 billion by the end of 2033, expanding at a CAGR of 4.7% from 2023 to 2033.

Hair Color Market: The global hair colour market is expected to reach a value of US$ 21.4 billion in 2021, with a CAGR of around 5% over the next ten years. The ongoing COVID-19 pandemic forced the closure of all salons, indicating a drop in demand for professional hair colours.

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