Product Innovations and Strong Demand in Emerging Markets Drive the Global Depilatories Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) August 22, 2013 -- Follow us on LinkedIn - Emerging as a tough competitor to the expensive hair removal techniques such as electrolysis, laser treatment and waxing, the market for depilatories is carving a niche for itself in the fast growing beauty products industry. Cost efficiency, ease-of-use and growing popularity as a faster and pain-free hair removal technique, represent key factors driving product penetration across the world. Other factors supporting growth in the market include growing demand for gender-specific products and rising product awareness. Another popular trend in the depilatories market is the growing importance of organic and natural ingredients. With a continuous increase in demand for gentle formulations that exfoliates the skin, the market for organic and natural depilatories is witnessing significant growth.
Rapid growth is expected in emerging markets of Asia-Pacific and Latin America, driven by increasing population, economic growth, increasing disposable incomes and growing interest in personal grooming. China and India represent two countries with the largest base of young population in the world offering significant opportunities for growth. The underpenetrated nature of these markets offers substantial opportunities for companies operating in this space. On the other hand, the mature markets of the West are expected to witness steady growth driven mainly by improvements in product performance. Depilatory products for men are expected to witness strong growth encouraged by the launch of new innovative products and strong marketing strategies adopted by manufacturers.
The impact of the 2007-2009 recession on the depilatories market was relatively cushioned due to the low cost characteristic feature of the product. The witnessed declines were largely the result of consumers trading down to low-priced products rather than compromise on their appearance. However, during this period, major companies operating in the market implemented cut backs to their advertising budgets to free up liquidity.
As stated by the new market research report on Depilatories, Europe represents the largest market worldwide, followed by the United States. Asia-Pacific is forecast to exhibit the fastest growth of 8.0% over the analysis period, closely trailed by Latin America. Increasing population and the expanding middle class with their high per capita incomes represent major drivers for growth in these emerging markets.
Key players covered in the report include Andrea, Church & Dwight Co. Inc., Dabur India Limited, L’Oreal SA, Nads, Reckitt Benckiser Plc., Revitol Direct, Sally Hansen, and The Procter & Gamble Company, among others.
The research report titled “Depilatories: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the depilatories market, industry overview, trends, growth drivers and issues and recent industry activity. The report provides market estimates and projections for Depilatories in US$. Geographic markets analyzed in the report include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Depilatories_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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