The Hair Removal Services industry has seen significant growth in recent years, driven by the increasing popularity of aesthetic procedures, rising incomes and social media trends. Professional hair removal isn’t a new beauty treatment, but growing interest in the procedure has brought spending on it to a new level. Social media trends combined with pent-up demand for cosmetic procedures from the pandemic led more people to seek out hair removal than ever in 2021, driving revenue growth. While growth has subsided since a wider acceptance of hair removal and the popularity of beauty and self-care routines continue to introduce more people to the procedure. In all, revenue has been expanding at a CAGR of 5.7% to total an estimated $5.0 billion in 2024, including an expected decline of 1.4% in 2024 as consumer spending slows.
Trends and Insights
- Beauty trends push hair removal services to a new height.
- While slowing consumer spending will temporarily drop spending on hair removal in 2024, social media trends and the popularity of beauty and self-care routines have created a large and growing market. Laser hair removal has become a top beauty procedure.
- Clients desiring long-term hair removal are turning to licensed hair removal studios for safe, professional treatments. Few barriers prevent new hair removal professionals from entering the industry.
- Sourcing specialized equipment and a storefront requires a cost and time investment but doesn’t pose a significant barrier for new companies.
Industry Overview
Industry revenue has grown at a CAGR of 5.7 % over the past five years, to reach an estimated $5.0bn in 2024.Trends and Insights
An expanding hair removal space confronts competitive pressures Aesthetic procedures across the beauty industry have become increasingly popular in recent years, with treatments like hair removal becoming the norm.Industry outlook (2024-2029)
Market size is projected to grow over the next five years.Trends and Insights
- Consumers’ growing interest in aesthetic procedures will encourage higher spending
- Trends benefiting hair removal service providers in recent years aren’t likely to subside. Aesthetic-based procedures, ranging from Botox to hair removal, will remain on the upswing, an outcome of rising incomes, social media trends and growing acceptance.
Table of Contents
About this Industry
Industry Performance
Products & Markets
Competitive Landscape
Operating Conditions
Key Statistics
