The Hair Removal Spray Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hair Removal Spray Global Market Report 2024, The hair removal spray market size has grown steadily in recent years. It will grow from $4.19 billion in 2023 to $4.39 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increased awareness of personal grooming and hygiene, rise in disposable income, growth in e-commerce platforms, growth in urban population, and rise in availability of unisex products.
The hair removal spray market size is expected to see strong growth in the next few years. It will grow to $5.35 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to the rising popularity of beauty goods, rising prices of beauty salons, a growing number of working women, rising demand for dermatologically approved products, and growing popularity of subscription-based models. Major trends in the forecast period include technological advancements, natural and organic formulations, unisex products, eco-friendly packaging, and pain-free hair removal solutions.
The increased consumer spending on personal care products is expected to propel the growth of the hair removal spray market going forward. Personal care products refer to a broad category of items designed for personal hygiene, grooming, and beautification, used for various health-related purposes. Personal care products are increasing due to several reasons, including health and well-being, the influence of social media and celebrities, continuous innovation in product formulations, and increased awareness. Hair removal sprays are used in personal care products to provide a quick and painless method for removing unwanted body hair. For instance, in December 2023, according to Statistics Canada, a Canada-based government agency, Canadian households spent $689 on average in 2021 on personal care products. Moreover, in May 2022, according to the International Trade Administration, a US-based government agency, Canada’s cosmetics industry, which generated approximately $1.24 billion in revenue in 2021, is expected to grow annually by 1.45%, reaching $1.8 billion by 2024. Therefore, the increased consumer spending on personal care products is driving the growth of the hair removal spray market.
<h4 class=reporthtag>Rise Of E-Commerce Fueling Growth In The Hair Removal Spray Market</h4>
The rising demand for e-commerce is expected to propel the growth of the hair removal spray market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet. E-commerce has been rapidly rising due to several factors, such as mobile technology, digital marketing, advances in logistics and supply chain management, buying experience and buy-now-pay-later services. Hair removal spray is marketed and sold through e-commerce platforms, allowing consumers to conveniently purchase the product online for at-home use. For instance, in September 2022, according to the International Trade Administration, a US-based government agency, consumer e-commerce now constitutes 30% of the UK’s total retail sector, up from 20% in 2020, contributing over $120 billion in annual revenue, with 82% of UK residents engaging in online transactions in 2021. Therefore, the growing demand for e-commerce is driving the growth of the hair removal spray market.
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The hair removal spray market covered in this report is segmented –
1) By Type: Aelo, Glycerin, Sunflower Oil
2) By Application: Men, Women, Other Applications
3) By Industry Vertical: Cosmetics, Other Industry Verticals
Major companies operating in the hair removal spray market are developing innovative products, such as foam-based hair removal sprays, to cater to consumer demand for more effective and convenient hair removal solutions. Foam-based hair removal sprays are depilatory products designed to remove unwanted body hair, offering a different application experience than traditional hair removal creams or gels. For instance, in December 2022, UrbanYog, an India-based beauty and personal care products company, launched a hair removal spray for women, promising a painless hair removal experience in under 10 minutes. This innovative spray is designed for easy application and ensures even coverage, making it ideal for quick, at-home use. It is formulated with skin-friendly ingredients, effectively removing unwanted hair and leaving the skin smooth and moisturized. The spray suits various body areas, including legs, arms, and underarms. It is enriched with soothing agents such as aloe vera and chamomile to minimize irritation and provide a comfortable hair removal process.
The hair removal spray market report table of contents includes:
1. Executive Summary
2. Hair Removal Spray Market Characteristics
3. Hair Removal Spray Market Trends And Strategies
4. Hair Removal Spray Market – Macro Economic Scenario
5. Global Hair Removal Spray Market Size and Growth
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32. Global Hair Removal Spray Market Competitive Benchmarking
33. Global Hair Removal Spray Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hair Removal Spray Market
35. Hair Removal Spray Market Future Outlook and Potential Analysis
36. Appendix
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