Increasing numbers of women in the workforce are driving up sales of hair removal products. A new report from Technavio said that the global market is currently growing at a rate of 5.6%, an is estimated to reach $9.99bn by 2020.
Brijesh Kumar Choubey, Lead Analyst at Technavio for cosmetics and toiletry research, said: “The key market players compete regarding quality, pricing and innovation. New product innovations are a commonly used strategy to maintain the demand in the market. The growth of players in the market also depends on the market conditions, government support and industry development.”