About Hair Removal Creams
Hair removal cream depilates by chemically dissolving hair that grows on the surface of the skin. They are a temporary solution for removing hairs. On the other hand, electrolysis and laser are permanent hair removal procedures, which are gaining popularity worldwide. However, laser treatment is an expensive solution, thereby restricting its use among high-income group consumers. Consumers intending to spend less tend to opt for cheap and effective solutions like hair removal creams.
Technavio’s analysts forecast the global hair removal cream market to grow at a CAGR of 8.34% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hair removal cream market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of hair removal in the market used for normal, dry, sensitive, and other skin types.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hair Removal Cream Market 2016-2020
Technavio recognizes the following companies as the key players in the global hair removal cream market: Church & Dwight, Reckitt Benckiser, Dabur, and Procter & Gamble.
Other Prominent Vendors in the market are: L’Oréal, Sally Hansen, Vi-John Group, Nads, Jolen, Revitol, and Skin Doctors Cosmeceuticals.
Commenting on the report, an analyst from Technavio’s team said: “Increasing marketing campaigns is one of the key trends leading to market growth. The sales of hair removal creams are largely affected by aggressive marketing campaigns launched by vendors. Large market players have been making continuous efforts to set up and improve their brand image, and increase their market recognition. Market campaigns help improve brand image and increase competitiveness among vendors.”
According to the report, growing importance of natural and organic ingredients is a key driver for market growth. With the increase in demand for gentle formulations that exfoliates the skin, the demand for organic and natural hair removal creams is gaining traction in the market. Thus, manufacturers are capitalizing on growing consumer interest in personal appearance and have started to invest in hair removal creams containing natural ingredients. Men and women are gaining trust on products, which are intended to get rid of unwanted hair in the body without having any side effects.
Further, the report states that intense market competition is a major challenge against the growth of the market. The vendors range from large corporations producing advanced and premium products on a worldwide scale to small- and medium-sized companies that concentrate on a specific product line in a specific geographical region. Multinational companies are posing as a big competition in the Asian hair removal cream market. However, the leading vendors are presently working on little profit because of the strong competition.
Church & Dwight, Reckitt Benckiser, Dabur, Procter & Gamble, L’Oréal, Sally Hansen, Vi-John Group, Nads, Jolen, Revitol, Skin Doctors Cosmeceuticals.
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