At 5.3% CAGR, the Asia Pacific Hair Removal Products Market is projected to be worth US$ 5,145.65 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific hair removal products market was valued at US$ 3,784.28 million in 2022 and is expected to reach US$ 5,145.65 million by 2028, registering a CAGR of 5.3% from 2022 to 2028. Rise in demand for men's hair removal products and increased spending on personal grooming products are the critical factors attributed to the Asia Pacific hair removal products market.        

The demand for high quality, premium, electric devices and less preference for disposable products has increased among customers. Moreover, razors and blades cause itchiness, bumps, razor burns, or cuts. Therefore, hair removal device manufacturers focus on research and development of technologically advanced products. The manufacturers are also focused on innovating better hair removal razors and patenting their developed technologies. For instance, Procter & Gamble Company's brand Gillette introduced razors in 1970. Since then, each innovation has been more advanced than its predecessor. In 2019, Gillette launched heated razor, featuring warm bar, flexdisc technology, advanced five blade technology, intelligent heat sensors and adjustable temperature levels. Furthermore, in 2021, Procter & Gamble Company's brand Braun launched the Series 9 Pro electric shaver, featuring ProLift Trimmer that gently lifts and cuts hair in every stroke and improves the shaver's ability to glide over the skin with a low level of friction. Thus, the development of smart hair removal devices is expected to create lucrative opportunities for the hair removal products market.

On the contrary, adoption of permanent hair removal method hampers the Asia Pacific hair removal products market.  

Based on product type, the Asia Pacific hair removal products market is segmented into creams, wax strips, razor and blades, epilators, and others. The creams segment held 22.3% share of Asia Pacific hair removal products market in 2022, amassing US$ 843.69 million. It is projected to garner US$ 1,164.90 million by 2028 to expand at 5.5% CAGR during 2022–2028.

Based on end user, the Asia Pacific hair removal products market is segmented into men and women. The women segment held 72.5% share of Asia Pacific hair removal products market in 2022, amassing US$ 2,744.88 million. It is projected to garner US$ 3,651.39 million by 2028 to expand at 5.0% CAGR during 2022–2028.

Based on distribution channel, the Asia Pacific hair removal products market is segmented into supermarket and hypermarket, convenience store, online retail, and others. The convenience store segment held 36.0% share of Asia Pacific hair removal products market in 2022, amassing US$ 1,360.51 million. It is projected to garner US$ 1,827.72 million by 2028 to expand at 5.0% CAGR during 2022–2028.

Based on country, the Asia Pacific hair removal products market has been categorized into the Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the China captured 35.8% share of Asia Pacific hair removal products market in 2022. It was assessed at US$ 1,355.07 million in 2022 and is likely to hit US$ 1,889.83 million by 2028, exhibiting a CAGR of 5.7% during 2022-2028.

Key players operating in the Asia Pacific hair removal products market are Church & Dwight Co Inc; Reckitt Benckiser Group Plc; Oriflame Holding AG; The Procter & Gamble Co; Koninklijke Philips NV; SI&D (Aust) Pty Ltd; and American International Inc, among others. 

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