The global hair removal devices market size was 43.69 million in 2021 and is expected to register a revenue CAGR of 9.95% during the forecast period. Key factors such as increasing awareness about grooming oneself, high demand for non-invasive and painless hair removal treatment, and rising purchasing power are expected to drive global market growth during the forecast period.
Hair removal, also known as depilation is a process for intentional removal of body hair for hygienic, medical, cultural, and aesthetic reasons. In recent times, the trend of using various types of devices for hair removal has taken a surge. A wide range of advanced hair removal devices is currently available in the market to cater to rising demand for non-invasive, pain-free, and hassle-free treatment. These devices provide long-time results and are safe to use. In addition, these hair removal devices are available on e-commerce platforms and are widely in demand for home use.
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Revenue growth of the global market is significantly driven by factors such as high preference for hair-free bodies among the younger generation, improving infrastructure of spas and beauty clinics, growing adoption of advanced hair removal devices among spas and clinics, and high focus on developing more effective and durable products.
However, high cost of laser hair removal devices and increasing availability of counterfeit and faulty hair removal devices is expected to limit the global market growth to a certain extent during the forecast period.
Epilators Segment to Account for Largest Revenue Share:
The epilators segment is expected to account for largest revenue share in the global market owing to increasing focus on aesthetic appeal, rising availability of various types of affordable epilators, and growing preference for at-home pain-free hair removal as per convenience.
Commercial Use Segment To Register Steady Revenue CAGR:
The commercial use segment is expected to register a steady revenue CAGR between 2022 and 2027. This can be attributed to increasing number of consumers undergoing hair removal procedures, rising adoption of intense pulse light devices in salons, clinics, and spas, rising spending power, and increasing demand for advanced hair removal services such as laser treatment and intense pulse light procedures.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share during the forecast period owing to high focus and spending on aesthetical appeal, increasing availability of higher precision devices, and high preference for physical grooming. Other factors such as presence of well-established salons, spas, and beauty parlors, availability of skilled dermatologists, and rising investments in research and development activities for developing advanced and hassle-free devices are expected to drive North America hair removal devices market going ahead.
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Hair Removal Devices Market By Company:
The global hair removal devices market has been segmented on the basic on type, application, and region:
Hair Removal Devices Market Segment by Type:
Lasers & IPL
Hair Removal Devices Market Segment by Application:
At Home Use
Honeycomb Paperboard Market Segment by Region:
North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)
Key Reasons to Purchase:
Estimates 2023 to 2028 Hair Removal Devices Market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the Hair Removal Devices Market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global Hair Removal Devices Market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?
Which key players are leading in the global Hair Removal Devices Market?
What is the expected market size of the global Hair Removal Devices Market between 2023 and 2028?
What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
What are some of the key challenges that the global market is expected to face during the forecast period?
Which region is expected to account for largest revenue share over the forecast period?
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