FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Engagements: 6199
Companies: 208– Players covered include Alma Lasers International; Candela Corporation; CosBeauty; Cutera, Inc; Cynosure, LLC.; Elos Me; Fotona d.o.o.; LumaRx; Lutronic; Lynton Lasers Ltd; MLAY; Philips; Reckitt Benckiser Group plc; Sciton, Inc; Sharplight Technologies Ltd; SmoothSkin; Solta Medical, Inc; The Procter & Gamble Company; Tria Beauty; Venus Concept; Viora and Others.
Coverage: All major geographies and key segments
Segments: Product (Laser-based Devices, Intense Pulsed Light (IPL) Devices, Energy-based Devices); End-Use (Beauty Clinics, Dermatology Clinics, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Hair Removal Products Market to Reach $1.3 Billion by 2026
COVID-19 outbreak and implementation of social distancing measures are significantly impacting beauty services known for physical contact between customers and providers. The highly contagious nature of the COVID-19 virus requires hair removal service providers to brace for new changes while reopening their salons. Considered as non-essential, hair removal treatment providers are struggling to attract customers. The scenario has prompted some of the leading brands and service providers to consider new approaches for engaging customers and ensuring their safety. These brands are releasing safety and hygiene guidelines for their spas and salons for raising awareness and ensuring protection of employees as well as customers. Amid the COVID-19 crisis, the global market for Hair Removal Products estimated at US$881.1 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 7.3% over the analysis period. Laser-based Devices, one of the segments analyzed in the report, is projected to record a 7.9% CAGR and reach US$681.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Intense Pulsed Light (IPL) Devices segment is readjusted to a revised 7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $246.3 Million in 2021, While China is Forecast to Reach $192.9 Million by 2026
The Hair Removal Products market in the U.S. is estimated at US$246.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$192.9 Million by the year 2026 trailing a CAGR of 8.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR. Women account for the largest users of hair removal creams as personal grooming has traditionally been associated with women since times immemorial. Moreover the number of grooming products available in the market for women outstrips men’s grooming products exponentially. However, men’s hair removal products are gaining traction owing to the increasing focus on personal grooming among men as well as to the acceptance of hair removal among men. Men who take part in sports activities such as athletics, swimming, cycling, body building, and wrestling as well as regular individuals are availing such treatments, and this is spelling opportunities for the market.
Energy-based Devices Segment to Reach $246.8 Million by 2026
In the global Energy-based Devices segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$138 Million in the year 2020 will reach a projected size of US$211.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$30 Million by the year 2026, while Latin America will expand at a 7.1% CAGR through the analysis period. More
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