Depilatories Products Market Research, 2033
The global depilatories products market size was valued at $2.3 billion in 2023, and is projected to reach $3.9 billion by 2033, growing at a CAGR of 5.2% from 2024 to 2033. The increase in awareness about personal grooming and hygiene, rising disposable incomes allowing for more spending on beauty products, and growing demand for convenient and pain-free hair removal solutions are the major factors for market growth.
Market Introduction and Definition
Depilatory products are chemical formulations designed to remove unwanted hair from the skin's surface. They work by breaking down the protein structure of hair, making it easy to wipe or wash away. These products are available in various forms, including creams, gels, and lotions. Depilatories typically contain active ingredients like calcium thioglycolate or potassium thioglycolate, which dissolve hair. They offer a painless alternative to shaving or waxing, though they may cause skin irritation for some users. Depilatories are often used for removing hair from areas such as legs, arms, and underarms, and they provide a temporary hair removal solution.
Key Takeaways
- The depilatories products market share study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major depilatories products industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
Key Market Dynamics
The increasing emphasis on personal grooming and appearance is a key factor propels the market expansion. Consumers are becoming more conscious about their looks and investing in products that offer convenience and effectiveness, leading to higher demand for depilatories. This trend is evident across various demographics, including both men and women, as societal norms continue to evolve and embrace personal care routines. In addition, rising disposable incomes and improved living standards in emerging economies are contributing to market growth, as more consumers can afford premium and specialized depilatory products. Furthermore, urbanization plays a significant role, as it drives a shift towards modern lifestyles and higher grooming standards thereby supports the growth during depilatories products market forecast period.
Innovations in product formulations, including the development of products that cater to sensitive skin, hypoallergenic options, and those that provide longer-lasting results, are also key drivers for market growth. These advancements address consumer concerns about skin irritation and effectiveness, broadening the appeal of depilatories. Marketing strategies and advertising campaigns highlighting the benefits of depilatories, such as ease of use, painlessness, and quick results, have also contributed to increased consumer interest and awareness. In addition, the growing influence of social media and beauty influencers has amplified trends in personal grooming, leading to heightened demand for new and trending depilatory products. Cultural shifts towards self-care and wellness are evident in various regions, particularly in Asia-Pacific, where rising awareness and changing beauty standards drive the depilatories products market growth.
However, the environmental concerns regarding the disposal of chemical-based products may impact consumer preferences and limited awareness or availability of depilatory products in rural areas can restrict the market growth. Price sensitivity in certain demographics may further constrain market expansion. On the other hand, the growing demand for convenient and pain-free hair removal solutions, which drives innovation and product development which provides depilatories products market opportunity. Furthermore, advancements in product formulations, such as hypoallergenic and natural ingredients, cater to diverse skin types and sensitivities and increasing acceptance of depilatory products among men present additional growth opportunities.
Patent Analysis for Depilatories Products Market
From 2020 to 2023, the World Intellectual Property Organization (WIPO) observed a significant trend in patent activity within the depilatories products market. China dominated the landscape, accounting for a substantial 73% of the total patents filed. This overwhelming majority indicates China's aggressive pursuit of innovation and development in the depilatories sector, likely driven by increasing consumer demand and a burgeoning beauty and personal care market. India, the UK, and the U.S. each contributed 9% to the patent filings, highlighting a more moderate yet significant interest in advancing depilatory technologies and products in these regions.
India's involvement reflects its growing consumer base and the rising importance of personal grooming in its market. Similarly, the contributions from the UK and the U.S. emphasize their ongoing commitment to innovation in beauty and personal care products.This distribution of patent activity reveals China's leading role in shaping the future of depilatories products, with other regions also investing in advancements to cater to their respective markets. The data suggests a competitive global landscape where innovation is key to capturing market share and meeting evolving consumer preferences in the depilatories products market size.
Market Segmentation
The depilatories products market is segmented into product type, gender, distribution channel, and region. On the basis of the product type, the market is segmented into creams, wax strips, razors, and others. By gender, the market is classified into women and men. By distribution channel, the market is divided into drugstores, supermarkets & hypermarkets, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Regional/Country Market Outlook
North America represents a huge portion of the depilatories products market share owing to its advanced healthcare infrastructure, high prevalence of congenital hemolytic anemias, and substantial patient awareness. In addition, extensive research and development activities, along with strong support from healthcare policies that facilitate access to advanced treatments contributes to the market growth.
However, the Asia-Pacific region is emerging as a lucrative market for depilatories products, driven by growing awareness of grooming and beauty standards, coupled with the expanding middle class, is boosting demand for cosmetic products. Additionally, cultural shifts towards personal grooming among both men and women are contributing to market growth. Innovations in product formulations tailored to diverse skin types and preferences further stimulate the market growth.
Industry Trends
- In March 2021, Edgewell Personal Care announced a significant initiative as part of its Sustainable Care 2030 strategy. The company committed to transforming its global portfolio of men's and women's disposable razors by incorporating more sustainable practices. Edgewell aims to support the circular economy by increasing the use of recycled, renewable, and recyclable materials, minimizing material usage, and reducing overall waste. A key target of this strategy is to cut the virgin petroleum-based plastic content in all its disposable razor handles by 50% by 2030. This move reflects Edgewell’s dedication to environmental responsibility and innovation in product design such initiatives support the market growth.
Competitive Landscape
The major players operating in the depilatories products market include Velnik India Limited, Procter & Gamble, Reckitt Benckiser Group PLC, jolenbeauty, SI&D (Aust) Pty Ltd, American International Industries., Church & Dwight Co., Inc., Edgewell Personal Care.?HCP Wellness Private Limited, and L'Oréal Paris.
Recent Key Strategies and Developments in Depilatories products Industry
- In November 2021, Edgewell Personal Care Company announced that it has acquired Billie Inc., a leading U.S. based consumer brand company that offers a broad portfolio of personal care products for women, in an all-cash transaction at a purchase price of $310 million, subject to customary adjustments. The transaction has been cleared under the Hart-Scott-Rodino Antitrust Improvements Act and has closed.
- In March 2021, Edgewell Personal Care announced that, as part of its Sustainable Care 2030 strategy, its global portfolio of men's and women's disposable razors including Schick Xtreme 3 men's1 and Skintimate® three blade women's razors – now has handles made with up to 100% post-consumer recycled (PCR) plastic. The Company also launched its new U.S. program to encourage the recycling of its disposable razors and to provide an alternative to curb recycling programs, which typically do not accept razors.
Key Sources Referred
- National Center for Biotechnology and Information (NCBI)
- Centers for Medicare & Medicaid Services (CMS)
- National Health Service (NHS)
- Australian Government Department of Health and Aged Care
- Government of Canada's Health and Wellness
- Ministry of Health and Family Welfare (MoHFW)
- National Health Mission (NHM)
- Ayushman Bharat - Health and Wellness Centers (AB-HWCs)
- Centers for Disease Control and Prevention (CDC)
- Food and Drug Administration (FDA)
- National Institutes of Health (NIH)
- World Health Organization (WHO)
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the depilatories products market analysis from 2024 to 2033 to identify the prevailing depilatories products market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the depilatories products market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global depilatories products market trends, key players, market segments, application areas, and market growth strategies.
Depilatories Products Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 3.9 Billion |
 Growth Rate | CAGR of 5.2% |
 Forecast period | 2024 - 2033 |
 Report Pages | 235 |
 By Product Type |
|
 By Gender |
|
 By Distribution Channel |
|
 By Region |
|
 Key Market Players | HCP Wellness Private Limited, Edgewell Personal Care, Church and Dwight Co., Inc., L'Oréal Paris, jolenbeauty, Reckitt Benckiser, Procter and Gamble Co, American International Industries, SI&D (Aust) Pty Ltd, Velnik India Limited |
The total market value of depilatory products market is $2.3 billion in 2023.
The market value of depilatory products market in 2033 is $3.9 billion.
The base year is 2023 in depilatory products market.
The Asia-Pacific region is experiencing the fastest growth, driven by rising disposable incomes, changing beauty standards, and increasing awareness about personal grooming.
Major players include companies such as Procter & Gamble, Reckitt Benckiser, Church and Dwight Co., Inc., L'Oréal Paris, Edgewell Personal Care, and Velnik India Limited.
Key factors include increasing awareness about personal grooming and hygiene, rising disposable incomes, and a growing preference for convenient and pain-free hair removal solutions.
Depilatory products are chemical formulations or devices used to remove unwanted hair from the body. Common types include creams, lotions, wax strips, shaving products, and epilators.
Loading Table Of Content...
