The global electric hair removal products market is anticipated to grow at a steady CAGR during the forecast period, 2022-2026. Increasing consciousness among the consumers towards the benefits of personal hygiene and grooming and the preference for enhanced aesthetic appeal are the primary driving factors for the global electric hair removal products market.
Increased Spending on Personal Care Products Influences Market Growth
The rise in the disposable income of consumers is increasing the expenditure capacity of consumers. Easy and quick-to-use products are in high demand, which takes less effort for applications such as consumer electronic devices are in high demand across the world. Market players are adopting attractive marketing strategies to attract customers to shop from their respective products.
Hiring celebrities and influencers to boost the reach of their products to a higher consumer base and to use quality products is expected to accelerate the sales of electronic hair removal products. The busy lifestyle of consumers, the higher spending on convenient grooming products, and the launch of innovative hair removal products by the companies are expected to create lucrative opportunities for the global electric hair removal products' market growth.
Booming E-Commerce Industry Drives Market Demand
Electric hair removal products' market players are making high-end investments for the expansion of their business. Market players are developing online sales channels with the help of interactive websites and mobile applications. The availability of a large number of options belonging to different brands at a single product allows the consumer to explore and choose the products from a wide variety of personal grooming and care products.
Consumers can compare the products based on price, specification, warranty period, and brand, which are listed in the product description provided by the companies. Products are found at at discounted prices, and the facility of doorstep delivery, easy exchange options, and the availability of online cashless options are expected to accelerate the growth of the global electric hair removal products market.
The use of advanced technologies such as machine learning, big data analytics, the internet of things, artificial intelligence to collect the data generated by the real-time analysis which on further analysis and processing to give insights to the major players. The insights help the market players to devise marketing strategies and provide a personalized shopping experience to the consumers. The use of e-commerce websites and applications by the market players is expected to boost the growth of the global electric hair removal products market.
Increasing Acceptance of Men Hair Removal Products Supports Market Growth
Change in the consumer preference about using hair removal products for men and availability of innovative products that provide a smooth finish and are gentle to the skin contribute to high market demand in the next five years. Growing acceptance among men for using hair removal methods and products and the efforts made by the market players by brands to introduce products specializing only for the male population due to the growing metrosexual culture are expected to bolster the market demand. Men's desire to maintain personal hygiene and personal grooming habits are further expected to foster the market demand.
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Market Segmentation
The global electric hair removal products market is segmented on the basis of type, application, distribution channel, regional distribution, and competition landscape. Based on type, the market is divided into epilators, trimmers, razors, and others. Based on application, the market is bifurcated into home use and professional use.
Based on distribution channel, the market is divided into supermarket/hypermarkets, cosmetic retailers, electronic retailers, online, others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America region, Europe region, Asia-Pacific region, South America region, and Middle East & Africa region.
Market Players
Panasonic Corporation, Braun AG, Koninklijke Philips N.V., Spectrum Brands, Inc., Beurer GmbH, Conair Corporation, Groupe SEB, Hangsun Limited, Wahl Clipper Corporation, and Andis Company are among the major market players in the global platform that lead the market growth of the global electric hair removal products market.
