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Sugaring Hair Removal Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region
Sugaring Hair Removal Global Market Report 2024
According to The Business Research Company's, the sugaring hair removal market size has grown strongly in recent years. It will grow from $2.88 billion in 2023 to $3.06 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to cultural shift towards natural and organic products, rise of social media and influencer marketing, demand for pain-free hair removal, wellness and self-care trends, increased availability of DIY sugaring kits.
The sugaring hair removal market size is expected to see strong growth in the next few years. It will grow to $3.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rising demand for sustainable and eco-friendly beauty products, continued emphasis on natural ingredients, expansion of e-commerce and online beauty retail, increased focus on inclusivity and diversity, growing male grooming market. Major trends in the forecast period include integration of sugaring in wellness and spa retreats, virtual consultations and DIY support, increased accessibility through subscription models, diversification of sugaring products, expansion of male-specific sugaring products and services.
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Market Drivers and Trends:
The expansion of spa and salon services is expected to propel the growth of the sugaring hair removal market going forward. Spa and salon services encompass a variety of beauty and personal care offerings provided by establishments such as spas, salons, and beauty care centers. As global economies improve, people have more disposable income to spend on discretionary items such as self-care and personal appearance. Sugaring hair removal, offered as a service in spas and salons, provides clients with a natural and effective method for achieving smooth, hair-free skin. For instance, in May 2023, according to the International SPA Association, a US-based spa industry association, the total revenue in the US spa industry experienced growth from $18.1 billion in 2021 to $20.1 billion in 2023, reflecting an increase of over 11%. Moreover, the number of spas increased by 280 locations in 2022 over 2021, and spa visits grew from 173 million in 2021 to 181 million in 2022. Therefore, the expansion of spa and salon services is driving the growth of the sugaring hair removal market.
Major companies operating in the sugaring hair removal market are focused on developing innovative solutions such as sugar hair remover and exfoliant to gain a competitive advantage. These products are designed for individuals to conduct sugaring hair removal in the comfort of their homes, offering a cost-effective and convenient alternative. For instance, in February 2021, Sugar Co., a UK-based cosmetic company, launched glow goop, a sugar hair remover and exfoliant. It is a natural hair removal and exfoliating paste made with just three simple ingredients: cane sugar, water, and organic lemon juice. Glow Goop's sugar formula clings just to hair and dead skin cells, not to the skin like standard waxes do. It exfoliates the skin, removing dead skin cells and leaving it feeling silky and smooth in addition to removing undesirable hair.
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Major Key Players of the Market:
Reckitt Benckiser Group plc., Alexandria Professional LLC, Schick, Sugaring NYC, Eva's Esthetics, L.A. Bikini, Sugaring LA, Skin Inc., Parissa Laboratories Inc., Sugar Sugar, Nad's, Radeq Lab, Sweet & True Sugaring Co., Nacach Wax, Sugaring Factory, MOOM Inc., Sweet Sensation Body Sugaring, The Sweet Spot Sugaring, Sweet Success Sugaring Training, Sweet Solutions Sugaring Studio, The Sugaring Lounge, Sugar of the Nile, Luvspick, Guangzhou Fourto Sanitary Products Co. Ltd., Sugardoh Inc., Sugar Cove, Sugaring London
Sugaring Hair Removal Market 2024 Key Insights:
• The sugaring hair removal market is expected to grow to $3.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Spa And Salon Expansion Fuels Sugaring Hair Removal Market Growth
• Innovative Products Driving Growth In Sugaring Hair Removal Market
• North America was the largest region in the sugaring hair removal market in 2023
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