Depilatories posted a decline in current value terms in 2020, largely attributable to changes in social contact as a result of COVID-19. Since home seclusion was prominent in 2020, this led consumers to adopt a more relaxed approach to personal grooming regimens, including hair removal.
While the Dominican Republic did initially close its borders at the emergence of COVID-19, the government opened up domestic tourism later in the year. In fact, many hotels even offered discounts for domestic tourists.
Depilatory bands were recently introduced in the Dominican Republic, targeting consumers looking for an affordable and convenient alternative to expensive professional waxing. In 2020, depilatory bands performed better than depilatory creams, since the band format is perceived to leave cleaner skin and use fewer chemicals.
In 2021, depilatories is set to return to positive current value growth, and it will maintain a moderate rate of growth throughout the remainder of the forecast period. Since consumers are expected to remain price-sensitive in the short-term at least, pricing competition will be intense, which may limit opportunities for the development of value-added products during the forecast period.
The economic fallout of the pandemic may continue impacting depilatories in the beginning of the forecast period. Since disposable incomes will continue to be impacted by the economic slowdown, changes in waxing habits may occur.
Hair removers/bleaches is set to post the fastest current value CAGR in the forecast period. Consumers will continue shifting towards depilatory bands due to the wellness trend.
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This report originates from Passport, our Depilatories research and analysis database.
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