LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global female depilatory market to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global female depilatory market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail and salon sales of female depilatory products and equipment to individual customers in the global market.
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Technavio consumer and retail analysts highlight the following four factors that are contributing to the growth of the global female depilatory market:
- Product innovation and line extension by vendors
- Consumer emphasis on personal grooming and hygiene
- Increased demand for do-it-yourself (DIY) hair removal methods
- Increase in number of working women leveraging demand for personal grooming
Product innovation and line extension by vendors
Marketers of depilatory products launch new products to enhance safety and faster way of depilation. The major reason behind that is to gain consumer interest by addressing consumer needs for quick, complete and longer-lasting hair removal. For instance, in 2015, P&G, introduced Gillette Flexball innovation in a razor exclusively for women, the ‘Venus Swirl’. The handle of this razor is fitted with a ball-hinge that allows the razor to rotate and provide a clean shave, particularly on body parts like the knees and ankles. P&G sold more than 2.5 million of these razors in the US in 2015. In addition, since the launch of this line in January 2015, Venus brand’s share of women’s system razors in the US increased by four points and reached to 64% during the end of the same period.
Additionally, marketers of the hair removal cream and shave gel segment are diversifying their product lines to meet the wide range of requirements set by the large base of consumers. These include hair removal creams based on the part of the body (legs, bikini line, face, arms, underarms), skin type (normal, sensitive, dry), and desired effect (long-lasting and quick results). Such launches provide more choices and help gauge consumer preferences.
Consumer emphasis on personal grooming and hygiene
According to Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research, “Increasing emphasis on personal hygiene and grooming is likely to drive the market for depilatory products over the forecast period.” For instance, in the US, a woman spends an average of USD 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 significantly during the period 2010-2015.
Increased demand for do-it-yourself (DIY) hair removal methods
The preference for salons is decreasing in developed markets such as Germany, France, the US, the UK, Japan, Canada, and Australia, particularly for regular use, with people increasingly preferring cost-effective do-it-yourself (DIY) methods of removal of unwanted body hair. Hair removal creams and waxes gained considerable popularity during 2010-2015, with many brands offering skin moisturizing and smoothening effects and slower and reduced hair growth. DIY kits are also available to cater to consumers’ on-the-go requirements.
Products like and the Tweezerman Mini Slant Tweezer and the Helix Threadease Hair Removal System, priced between USD10-15, are affordable options and can easily fit in makeup boxes. Other popular DIY products include the Sally Hansen’s Microwavable Eyebrow, Face & Lip Wax Kit and Ouch-Relief Stripless Hard Wax Kit, and Ouch-Relief Wax Strip Kit for Face.
Increase in number of working women leveraging demand for personal grooming
The working population segment is one of the major revenue contributors to the global beauty market. Working women account for a significant share of the total revenue generated in the global female depilatory products market. Globally, more than 55% of the total female population aged between 15-64 years comprised the female labor force in 2014.
“This increasing number of working women has created considerable opportunity for depilatory product marketers to grow. They are focusing more on regular or frequently usable depilatory products as well as epilators and electric hair removal systems that provide a quick and smooth solution on a daily basis,” says Brijesh. Epilators that have become popular in the global market include Braun Silk-épil epilators, Gillette Venus Silk-expert IPL powered by Braun from P&G and Veet Infini’Silk and Veet Infini'Silk PRO from Reckitt-Benckiser.
Browse Related Reports:
- Global Depilatory Products Market 2016-2020
- Global Wet Shave Market 2016-2020
- Global Personal Care Ingredients Market 2016-2020
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