Global Female Depilatory Market to Witness Growth Through 2020, Owing to Increasing Number of Women in the Workforce: Technavio

LONDON–(BUSINESS WIRE)–#ConsumerTechnavio
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.

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