Hair Removal Wax Market

Market Overview

The global hair removal wax market size was valued at USD 13,110 million in 2022. It is estimated to reach USD 20,228 million by 2031, growing at a CAGR of 4.9% during the forecast period (2023–2031).

Highlights

• Soft wax dominates the market by Type.
• By ingredient, the Organic segment dominates the market.
• Normal skin dominates the market by skin type.
• Body/arms/legs dominate the market by coverage.
• By price, medium price dominates the market.
• Hypermarkets and supermarkets dominate the market by distribution channel.
• Asia-Pacific dominates the global market by region.

Hair removal wax is a chemically or directly depilatory product to remove unwanted hair. Waxing is a technique that uses hair removal wax to remove unwanted hair from its follicles. Wax, when applied to the skin, becomes an adhesive that clings to the hair on that skin. Pulling on the follicle's covering removes the hair. The use of wax to remove hair is a semi-permanent method of doing so. When you wax, the hair stops growing for two to eight weeks. However, hair growth can start in as little as a week for some. Waxing removes hair from the brow, arm, face, belly, intimate region, and foot, among other places. Wax has been applied to the skin in a very thin layer. The next step is to press a cloth or paper strip onto the wax. After positioning the strip in the direction of hair development, it is ripped off. This method may be used for waxing or hair removal.

Market Dynamics

Global Hair Removal Wax Market Drivers

Increased Hair Removal Wax Demand Due to Altering Lifestyle

Demand for hair removal waxing products is primarily motivated by the desire to maintain a well-groomed appearance. As a consequence of shifting lifestyles, rising living standards, and rising disposable income, the purchasing power of consumers is rising. This affects how much customers spend on hair removal services at salons and saunas. Professional clinics and salons frequently acquire hair removal products. This is anticipated to have an ongoing impact on the hair removal wax market soon.

Rapidly Expanding Home Waxing for Hair Removal and Skin Exfoliation

The market for hair removal wax is anticipated to expand due to the rising demand for at-home hair removal methods among both young people and adults. The younger generation is replacing hazardous lubricants and razors with these waxing products. This will continue driving the market growth for hair removal wax over the forecast period. Wax for hair removal helps remove undesirable hair while eliminating dry, dead skin cells, leaving the skin silky and revitalized. Waxing is one of the simplest methods to remove unwanted hair, and women of all ages are the most frequent users of hair removal wax.

Global Hair Removal Wax Market Restraint

Widespread Access to Substitutes and Laser-based Hair Removal

Non-invasive and non-surgical hair removal methods are gaining popularity as consumer preferences evolve. Shaving, moisturizers, and laser-based hair removal techniques are alternatives to waxing because they are less irritating and do not cause skin irritation or abrasions. Men and women use shaving techniques such as razors and hair removal products to remove undesirable hair because they are less expensive and easier to use. This is considered a significant factor that could restrain the development of the market for hair removal wax.

In addition, laser hair removal reduces the need for subsequent treatments by leaving the treated area hair-free for months or years after surgery. This is one of the challenges that can impede the expansion of the market in the future.

Global Hair Removal Wax Market Opportunities

Increased Demand for Prefabricated Waxing Strips

Prepared for utilization Waxing strips is a method of hair removal that already contains wax, eliminating the need to heat and apply wax while removing hair. Prefabricated wax sheets are more effective over time. Pre-made wax strips are preferred for most body parts, including the face, genital area, underarms, and legs because they are available in various sizes and shapes. These cold wax strips can efficiently and quickly remove hair from large areas at home. Additionally, since the pieces are pre-waxed, they create minimal waste. This is one factor likely to accelerate the hair removal wax market during the forecast period.

Men are also requesting waxing services due to the increased prevalence of hygiene. Waxing promotes cell regeneration, improves skin tone, and exfoliates the epidermis to prevent ingrown hairs. These are significant reasons for the increased use of waxing products.

Regional Analysis

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific Dominates the Global Market

Asia-Pacific held the largest market share and is anticipated to grow at a CAGR of 5.7% during the forecast period. The demand for hair removal waxes has increased due to the intense competition among major suppliers, which has prompted them to expand their presence in more remote regions. In July 2020, the Economic Times reported that sales of prominent FMCG brands such as ITC, Godrej, Dabur, Emami, and Marico increased in rural and semi-urban areas during the pandemic. Also, as cities continue to expand, more individuals are becoming concerned with their hygiene, including the maintenance of short hair, which has a positive effect on the rate of product consumption. These factors are of utmost significance in the Asia-Pacific region's increasing awareness and use of hair removal waxes. Most hair removal wax products in the Asia-Pacific region are manufactured in China and India. The presence of small and medium-sized manufacturers in Asia-Pacific is a significant factor in expanding the hair removal wax market.

Europe is estimated to grow at a CAGR of 4.3% during the forecast period. The European hair removal wax market is expanding due to continuous research and development in processing and cost-effective manufacturing. Nonetheless, the dominant market companies are anticipated to have lucrative growth opportunities due to increased administrative support and regulations. It is anticipated that the development of the hair removal wax market will be hindered by the availability of more advanced cosmetic procedures, the high price of organic cosmetics, and fluctuations in the supply of raw materials. On the other hand, the high cost of hair removal therapy in dermatology or cosmetic clinics is anticipated to hinder market growth.

The North American hair removal wax market will expand due to the increasing number of hygiene businesses in the region, such as beauty salons, hair salons, and laser treatment centers, significantly bolstering the rising demand in the coming years. Personal care product consumption is increasing due to the region's high per capita income and strong purchasing power. Licensed estheticians can rely on Beauty Image for the finest waxes and waxing apparatus in any part of the region.

Segmental Analysis

The global hair removal wax market is segmented based on Type, ingredient, skin type, and coverage, price, and distribution channel.

The Type segment is further divided into soft and hard wax.

Soft wax dominated the market and is expected to register a CAGR of 5.2% over the forecast period. Soft wax with a cream or resin basis is used for strip waxing. It is distributed thinly over the epidermis after being warmed slightly. After removing a cotton strip pressed into place, the hairs are removed. Larger body parts, such as the legs and limbs, are frequently coated with spreadable wax. Soft wax is so effective at eradicating even the finest hairs that it should be used only once per area because it adheres to the skin.

By ingredient, the market is further segmented into organic and synthetic.

The organic segment dominates the market and is expected to grow at a CAGR of 4.4% during the forecast period. Organic wax for hair removal contains only natural ingredients. All of the ingredients are sourced from organic producers. Unlike other liposoluble waxes, it does not contain mineral oils such as paraffin liquid or carcinogenic substances such as titanium dioxide. These substances harm the skin and lead to its becoming harsh and dehydrated. In addition, this wax contains no artificial colors, preservatives, or regulators.

The skin type is further segmented into dry skin, oily skin, normal skin, sensitive skin, and others.

The normal skin type dominated the market and is expected to register a CAGR of 4.7% over the forecast period.

The market is further segmented by coverage into face, body/arms/legs, and bikini.

The Body/arms/legs segment dominates the market and is expected to grow at a CAGR of 4.7% during the forecast period. The areas most frequently waxed are the body, limbs, and legs. Even though many men have hairy backs, intermittent waxing helps them feel more comfortable, particularly if the hair is irregular. Without a doubt, "home waxing" is a thing, but waxing one's own back may be difficult. Regular waxing reduces the thickness and rate of hair regrowth. Waxing has the added benefit of slowing hair growth.

The market is divided into low, medium, and high based on price.

Medium price is expected to dominate the market, registering the highest CAGR of 5.0% over the forecast period.

Based on distribution channels, the market is sub-segmented into company-owned websites, e-commerce websites, hypermarkets and supermarkets, specialty stores, and others.

Hypermarkets and supermarkets are expected to dominate, registering the highest CAGR of 4.7% over the forecast period. Due to the manufacturers' exceptionally effective distribution strategies, the offline category held the largest market share. Due to this efficient distribution, hair removal wax products are readily available at cosmetic supply stores, supermarkets, and convenience stores. Nonetheless, since the beginning of the pandemic, the online market has expanded rapidly as more and more people turn to online purchasing sites to fulfill their needs. 

Recent Developments

• In 2021- Le Club Perron Rigot came out with new items to use after waxing, such as a soothing gel and nourishing oil.