Supermarkets, drugstores and pharmacies dominate the global hair removal market, says Grand View Research, whose database is used by Fortune 500 companies and some of the world’s top educational institutions.
Increasing awareness about personal grooming and rising spending on hygiene, in addition to aesthetic appeal, are expected to drive the sector to worldwide sales of US$3.2 billion over the next five years, predicts the data tracker.
Overall growth of 5.5 per cent through to 2025 will be outpaced by electronic devices. Epilators are popular with men and women, says Grand View Research, because they are quick and easy to use.
A similar strategy to the leading razor makers, Gillette and Schick.
Women still rule the roost in the hair removal sector and the increasing number or working women in emerging economies is a major driver of global sales.
Leading brands such as Veet have also diversified into hair removal products for dry and sensitive skin.
North America remains the largest regional market with a 30.8 per cent market share.
But the Asia/Pacific region has the fastest growth rate, says Grand View Research.
Online sales are on track to spike by 6 per cent to 2025, adds the researcher, as the use of smartphones and multi-channel retailing continues to grow strongly.