Depilatory Waxes Market Size, Share, Growth, and Industry Analysis by Type (Frozen Wax and Hot Wax) By Application (Online Retail and Offline Retail), Regional Insights and Forecast To 2031

Updated On: 01 April 2024

Depilatory Waxes Market Report Overview

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The global depilatory waxes market size is expected to be USD 780.7 million in 2021 and is projected to touch USD 1233.24 million by 2031, at a CAGR of 4.7% during the forecast period.

The sudden spike in CAGR is attributable to the depilatory waxes market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with depilatory waxes experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. A depilatory wax, also called hair removal wax, is used to remove unwanted hair from various parts of the body including the face. Players in the sector are working to develop novel waxing solutions that are less painful, more effective, and organic because there are so many on the market. The worldwide market for hair removal wax is anticipated to increase as a result of these ongoing improvements. Depilatory waxes market growth would be also supported by the shift towards wax products with natural and organic ingredients as consumers seek healthier and safer alternatives.

COVID-19 Impact: During COVID-19, Expanded Product Range Lead To Market Growth

The COVID-19 pandemic had a favorable impact on the global depilatory waxes market due to positive demand trends across various regions. Manufacturers of hair removal waxes are expanding their product ranges and advertising them on online shopping portals. However, since the majority of commercial items are still bought offline, the market suffered slightly due to shop closures. The COVID-19 pandemic is expected to have a significant positive impact on the market, largely due to the introduction of at-home waxing kits that come with all the supplies needed for waxing as well as pre-made waxed strips. Customers are quickly adopting these pre-made strips to groom themselves because they can no longer attend a salon to fulfil their grooming demands, which has resulted in a significant demand for these products globally. Due to these aforementioned factors, the COVID-19 pandemic played a major role in augmenting the depilatory waxes market share worldwide.

LATEST TRENDS

"Growing Use of Waxing for Exfoliation to Accelerate Market Growth"

Depilatory waxes function as an exfoliator and smoothen the skin by assisting in the removal of dead and dry skin cells in addition to unwanted hair. Wax exfoliates are growing in popularity around the globe as a result of cosmetic trends of having smooth, silky, and clean skin that are being promoted by social media and fashion publications. Additionally, as waxing becomes more popular, body-conscious males are choosing to use these products as well. Ingrown hairs are removed via waxing, which also encourages cell renewal and exfoliates the skin. The usage of waxing products has increased as a result of these advantages.

Depilatory Waxes Market Segmentation

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• By Type Analysis

By type, market is segmented into frozen wax and hot wax. The frozen wax segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into online retail and offline retail. The online retail segment will lead the global share through 2028.

DRIVING FACTORS

"Market to Prosper owing to Rising Demand for Pre-made Waxing Strips"

Ready-to-use pre-made waxing strips are a depilatory method that eliminates the inconvenience of melting and applying wax by having the wax already pasted on the strips. For the majority of body areas, including the legs, underarms, bikini region, and even the face, pre-made wax strips are practical. These wax strips are available in a range of sizes and forms, which makes them quite popular with young people and helps the market develop. Furthermore, during the pandemic, when all spas and salons were closed, these cold wax strips were in high demand since they are so simple to apply at home.

"Home-Friendly Products to Push the Market Growth"

Market players are focusing their efforts on creating new wax products with distinctive scents and hues. Wax comes in a variety of tastes, including chocolate, aloe vera, white chocolate, and ricotta. Therefore, a key factor driving the growth of the worldwide depilatory waxes market is product development. Soft wax strips are yet another hair removal method that is accessible. Owing to its simplicity of usage and adoption by customers who cannot afford salon visits due to tight schedules, it may be applied at home and has become quite popular. Furthermore, in response to the rising demand for natural goods among consumers who are health-conscious, manufacturers are spending money on R&D to create innovative products like organic hair removal wax with natural components.

RESTRAINING FACTORS

"Alternatives such as Epilation Could Hamper Market Growth"

Epilation is a method of hair removal that is gaining popularity nowadays. People use epilators, which are electrical devices that mechanically grip hairs before yanking them out. The depilatory waxes market growth could be affected during the forecast period as a result of such innovations. In addition, the market also faces a threat from the rising popularity of laser hair removal treatments.

Depilatory Waxes Market Regional Insights

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"Rising Disposable Incomes to Boost Market Share Across Asia Pacific "

Led by China and India, the Asia Pacific dominates the global depilatory waxes market share. The presence of small- and medium-scale producers in the Asia Pacific region is one of the major drivers of the growth of the market in this region. Due to the region's expanding population and increased disposable income, the market for hair removal wax is anticipated to develop substantially.

Due to advancements in hair removal techniques, North America is anticipated to continue to have the greatest market share for Hair Removal Wax. Additionally, a major factor in the rise of the industry is the population's rising disposable income.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Reckitt Benckiser (Veet) (U.K.)
• Marypei (Italy)
• Darent Wax (U.K.)
• Xanitalia (Italy)
• Nads Corporation (U.K.)
• Edgewell Personal Care (U.S.)
• Procter and Gamble (U.S.)
• American International Industries (U.S.)
• Loreal International (France)
• Church and Dwight (U.S.)
• Jolen Inc. (U.S.)
• Coloris Ltd. (France)
• Kera-Ban Wax Products (U.S.)
• Koster Keunen (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.