One of the major factors driving the market is men’s growing acceptance of hair removal products. According to recent trends, many men are engaging in various grooming activities, including hair removal. Furthermore, the growing popularity of metrosexual culture has prompted businesses to introduce products tailored to men. This factor is expected to drive the product demand in the near future.
Further, Removal Strips are a popular product among consumers with average disposable incomes due to their simplicity and ease of use. To keep removal strips within reach of this demographic, manufacturers will continue to offer them at a low cost. Rather than premium pricing that reflects high profit margins, market players will continue to focus on providing removal strips in a cost-effective price range.
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Overview
According to latest research by Future Market Insights, Removal Strips market is set to witness steady growth during 2021-2031. Waxing techniques are becoming more popular in providing skin care solutions, and products like removal strips are helping to cater to consumers’ preferences.
The worldwide prevalence of blackheads as a common skin problem is a major driving force for removal strip sales. Removal strips are a popular way to get rid of blackheads quickly. As a result, the removal strips market is set to witness a CAGR of 6.1%-6.9%.
What is Driving Demand for Removal Strips Market?
The growing importance of fashion and beauty trends along with the increasing innovation in removing products is anticipated to grow at a significant rate during the forecast period. Further, rising consciousness with respect to personal grooming and enhancing aesthetic appeal are some of the major factor driving the demand of the product.
Further, the rise in per capita income is one of the key factors leading to increasing demand for removal strips around the world.
The growing number of beauty salons and spas is also driving the market forward. Other factors expected to drive the growth of the removal strips market include an improved standard of living and a changing lifestyle.
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However, the pandemic outbreak has had a significant impact on the removal strips industry. The beauty industry experienced a temporary downswing, especially in certain beauty sectors. The pandemic had both negative as well as positive impact on the market.
Apart from this, consumers drastically resorted to making purchase online which forced the manufacturers and players to stimulate their online penetration to capitalize on sales opportunities. All of such drastic operational changes due to outbreak of novel coronavirus resulted in certain temporary challenges on the part of players.
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US and Canada Removal Strips Market Outlook
In the U.S, the removal strips market is booming over the past few years and is expected to rise owing high spending on personal grooming, and rising hygiene concerns among men and women in the country.
Further, in the coming years, the regional market is expected to be driven by changing living standards, an increase in the number of working women looking for quick hair removal solutions, an emerging metrosexual culture, and rising consumer spending power.
Europe Demand Outlook for Removal Strips Market
The demand for removal strips market in the European market is estimated to grow significantly in the upcoming years. The expansion has been aided by the emergence of non-banking players in the payment industry.
Many consumers prefer virtual marketplaces to purchase a variety of products including personal grooming products, as a result, many retailers in the European market have been venturing into online retail. Over the forecast period, these trends are expected to have a positive impact on market growth.
Some of the leading manufacturers of removal strips market include
- Reckitt Benckiser
- Kao Corporation
- Walgreen Co.
- Ulta Beauty
- Earth Therapeutics
- Sephora
- L’Oréal
- Tonymoly Co.
- Ltd.
- Boscia
- KaoUSA
- Hip Hop among others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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