The North American hair removal wax market size was valued at USD 2,018 million in 2021 and is projected to reach a value of USD 2,947 million by 2031, registering a CAGR of 3.7% during the forecast period (2022-2031).
Hair removal wax is a chemically or directly depilatory product to remove unwanted hair. They are mostly made by mixing ingredients in big tanks and putting them in individual packages. With so many waxing products on the market, researchers are looking into ways to make hair removers less annoying, more effective, and last longer. This will drive the global hair removal wax market over the next few years.
The region's disposable income has steadily increased. Wax for hair removal is in higher demand as a result. As disposable income has increased, so has the demand for high-end waxing services in salons and spas. Customers will pay more for high-quality waxing services with great results and skin-friendly formulas. Rising disposable income has driven demand for high-end at-home waxing kits and salon services. Consumers want high-quality waxing kits. The Nair Ultimate Roll-On Wax Kit is a premium at-home waxing kit that lasts. It is skin-friendly.
The region has grown to choose laser hair removal over waxing. Laser hair removal kills hair follicles and stops growth. Laser hair removal lasts longer than waxing, so clients may not need it as often. Laser therapy's simplicity of long-term hair removal may hurt hair removal wax sales. North American experts utilize aesthetic lasers for several purposes. The area's several rivals are expected to boost the laser hair industry. In 2020, the International Society of Aesthetic Plastic Surgery reported 271,628 hair removal treatments in the U.S., making it one of the top three operations. Laser hair removal is more convenient and painless than waxing. It may appeal to wax-averse clients. More clinics and med spas provide laser hair removal. Laser hair removal may appeal to waxing users due to its accessibility, impeding the market's growth.
Companies that produce hair removal wax have a chance to innovate and create new products that meet consumers' changing demands and tastes. For instance, companies that provide hair removal wax can create products with natural or organic components that are painless or are specifically made for sensitive skin. Many customers avoid using hair removal wax completely since they believe traditional waxing is unpleasant and difficult. Companies like Nair and Veet have launched pain-free waxing solutions that use cutting-edge formulas to reduce pain and discomfort in response to this concern.
The North America hair removal wax market is segmented based on Type, ingredient, skin type, coverage, price, and distribution channel.
The Type is further segmented into soft and hard wax.
Soft wax dominated the market and is expected to register a CAGR of 4.0% over the forecast period.
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 3.2% during the forecast period.
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 3.5% 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 3.5% during the forecast period.
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 3.8% 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 3.5% over the forecast period.
The North America hair removal wax market is segmented by country into the U.S. and Canada. North America saw the highest revenue share in 2021. Due to improved hair removal methods, North America is predicted to demand hair removal wax significantly. Hollywood, the hub of the entertainment sector, is located in this area, making it a key market for these products. In addition to functioning as a consumer, Hollywood is vital in promoting domestic and international beauty standards. The number of grooming businesses in the area, like beauty shops, hair salons, laser treatment centers, and others, is growing, boosting demand for hair removal wax.
The U.S. dominated the market and is expected to grow at a CAGR of 3.7% during the forecast period. The market for hair removal wax is expected to increase greatly in the United States due to the country's expanding number of grooming businesses, such as beauty salons and others, which are anticipated to contribute to the rising demand significantly. Due to the country's high per capita income, the strong spending power for personal care products like hair removal waxes drives demand. For instance, according to data from the World Bank in 2019, the United States GDP per capita income is expected to reach USD 65,280.7.
In the coming years, the regional hair removal wax market is anticipated to expand due to the increasing number of grooming businesses, such as beauty salons, hair salons, and laser treatment centers, contributing substantially to the rising demand. The region's high per capita income and purchasing power are causing an increase in the consumption of personal care products. Canada-wide, licensed estheticians can rely on Beauty Image to provide the most effective waxes and waxing supplies.
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