At 4.3% CAGR, the South & Central America Hair Removal Products Market is projected to be worth US$ 873.07 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America hair removal products market was valued at US$ 677.50 million in 2022 and is expected to reach US$ 873.07 million by 2028, registering a CAGR of 4.3% 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 South & Central America hair removal products market.        

The beauty & personal grooming industry is growing with a rising emphasis on personal hygiene and appearance. Over the past few decades, rise in disposable income and increasing working population have encouraged buyers and customers to spend more on personal grooming products. According to a survey conducted by Harris Williams in 2022, consumers emphasized majorly on skincare, wellness, and hair health. It also confirmed that the majority of consumers would not reduce spending on health and beauty products if economic conditions declined. The rising emphasis on personal and self-care regimes has further created opportunities for manufacturers to innovate and create product differentiation to meet evolving customer needs. Hair removal product manufacturers have further invested heftily in marketing and advertisement of products to create awareness and increase the demand for hair removal products. Customers prefer convenient, hassle-free, and time-saving hair removal products, owing to busy lifestyles and shift in consumer behavior. The hair removal products manufacturers also provide offers, free gifts, launch trials, and other discounts on products to widen their customer base, which, in turn, encourages customers to spend more on hair removal products. Thus, these key factors are responsible for driving the South & Central America hair removal products market.

On the contrary, adoption of permanent hair removal method hampers the South & Central America hair removal products market.  

Based on product type, the South & Central America hair removal products market is segmented into creams, wax strips, razor and blades, epilators, and others. The razor and blades segment held 46.3% share of South & Central America hair removal products market in 2022, amassing US$ 313.81 million. It is projected to garner US$ 401.71 million by 2028 to expand at 4.2% CAGR during 2022–2028.

Based on end user, the South & Central America hair removal products market is segmented into men and women. The women segment held 80.3% share of South & Central America hair removal products market in 2022, amassing US$ 543.70 million. It is projected to garner US$ 690.60 million by 2028 to expand at 4.1% CAGR during 2022–2028.

Based on distribution channel, the South & Central America hair removal products market is segmented into supermarket and hypermarket, convenience store, online retail, and others. The convenience store segment held 36.7% share of South & Central America hair removal products market in 2022, amassing US$ 248.69 million. It is projected to garner US$ 317.65 million by 2028 to expand at 4.2% CAGR during 2022–2028.

Based on country, the South & Central America hair removal products market has been categorized into the Argentina, Brazil, and the Rest of South & Central America. Our regional analysis states that the Brazil captured 48.5% share of South & Central America hair removal products market in 2022. It was assessed at US$ 328.77 million in 2022 and is likely to hit US$ 440.32 million by 2028, exhibiting a CAGR of 5.0% during 2022-2028.

Key players operating in the South & Central America hair removal products market are 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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