About the Depilatory Products Market
With more women entering the global workforce, the demand for and the affordability of depilatory products have increased. The rising numbers of salons and spas also increase product use. The following methods are commonly used for hair removal and there are many products to make the task easy.
Technavio Announces the Publication of its Research Report – Global Depilatory Products Market 2016-2020
Technavio recognizes the following companies as the key players in the global depilatory products market: American International Industries, Church & Dwight, L'Oréal, Nad’s, Procter & Gamble, and Reckitt Benckiser.
Other Prominent Vendors in the market are: Coty, Dabur, Edgewell Personal Care, Jolen, Revitol, and Vi-John Group.
Commenting on the report, an analyst from Technavio’s team said: “A key trend propelling market growth is the emphasis on personal grooming and hygiene. Growing emphasis on personal grooming and hygiene will drive the market for depilatory products over the next five years. In the US, a woman spends an average of $45 per month on beauty products. The Hispanics form a major part of the beauty industry. In 2015, this population segment spent over 3% more on shaving products than it did in 2014. Similarly, spending by this group on personal care products increased by over 4% from that of 2014. In key developing markets like India, demand for personal care products has grown rapidly over the last few years. The volume sales of shavers/groomers increased by over 50% in 2013 compared to 2012.”
According to the report, a key growth driver is the rising demand for DIY hair removal methods. Preference for salons is declining, particularly for regular use, with people increasingly preferring cost-effective DIY methods of removal of unwanted hair. Hair removal creams have gained considerable popularity over the last few years, with many of them offering moisturized and smooth skin with slower and reduced hair growth. DIY kits are also available to cater to the requirements of on-the-go customers.
Further, the report states that one challenge that could hamper market growth is the growing demand for laser hair removal. As laser hair removal offers long-term hair removal, more consumers are opting for these products, threatening the sales of traditional depilatories.
American International Industries, Church & Dwight, L'Oréal, Nad’s, Procter & Gamble, Reckitt Benckiser, Coty, Dabur, Edgewell Personal Care, Jolen, Revitol, Vi-John Group.
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