Hair removal cream: Key market research findings
- Europe dominates the market geographically
- Supermarkets and hypermarkets account for a majority of the market’s revenue
- Key vendors – Church & Dwight, Reckitt Benckiser, Dabur, and P&G
Technavio’s market research analysts predict the global hair removal cream market to grow at a CAGR of more than 8% between 2016 and 2020. The demand for hair removal creams is augmented by their cost-effective and convenient nature. Many hair removal procedures carried out at parlors, and clinics are expensive and sometimes painful. Laser hair removal treatment is one such technology, which provides a solution for permanent hair removal treatment. The high costs of procedures have increased the demand for alternatives such as hair removal creams, which have an average cost ranging between $10 and $90 per bottle and can be used 4-5 times. During 2015, Europe dominated the global hair removal cream market by accounting for around 36% of the overall market share. Consumers’ desire to remain well-groomed, as well as the preference for shaving at home rather than going to a salon, which is more expensive and time-consuming, are factors that will fuel growth in the hair removal cream market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the hair removal cream segments based on the distribution channel.
“Vendors in the global hair removal cream market are diversifying their product lines to strengthen their foothold in the competitive market. These include hair removal cream solutions for the body (legs, bikini line, arms, and underarms), skin type (normal, sensitive, and dry), and the desired effect (long-lasting and quick results). Besides, vendors are also trying to create product differentiation through the addition of new products that contain natural ingredients such as aloe vera, papaya extract, jasmine, and almond oil to cater to the changing consumer demands,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
By 2020, the supermarkets and hypermarkets segment will continue its market dominance by accounting for almost 37% of the overall market revenue. Due to the availability of different private labels brands, latest product launches, and the availability of discounts, the popularity of supermarkets have increased. Sale of private labels in such supermarkets is comparatively higher than branded products due to the availability of a diverse range of variants at low prices, especially when compared to other branded hair removal creams.
The key vendors in the global hair removal cream market include Church & Dwight, Reckitt Benckiser, Dabur, and P&G. The global hair removal cream market is competitive due to the growing popularity of various other hair removal methods like waxing, shaving razors, and epilators. The leading vendors in this market are competing on the basis of product differentiation, line extension, and pricing to gain maximum market shares during the forecast period.
A more detailed analysis is available in the Technavio report, Global Hair Removal Cream Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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