Executive Summary

Jun 2019
PROSPECTS
Rising environmental awareness continues to discourage consumption of depilatories

Latvian consumers are becoming increasingly interested in the environment and ecological issues are often at the forefront of their concerns when purchasing beauty and personal care products. This poses something of a threat to sales of depilatories as there are widespread environmental concerns over the regular usage of some of the category’s most common products.

Low per capita usage of depilatories means considerable room for further sales growth

There is still huge potential for growth in sales of depilatories in Latvia as per capita usage is still considerably lower than the European average. This means that there is even room for newcomers to make their mark on the category.

Growth set to be supported by rising incomes and rising female employment levels

Depilatories is slated for further positive growth over the forecast period and the main reason for this is set to be the higher earning potential of Latvian women, which is in turn set to be the result of higher female participation in the workforce and the general improvements that are being seen in the Latvian economy. In previous years, the high prices of women’s shaving products have held back sales growth as many women were encouraged to use more economical men’s shaving products instead and this is likely to become less of an issue during the forecast period as income levels rise and these products become more affordable.

COMPETITIVE LANDSCAPE
The dominance of the leading players presents barriers to entry

The strong positions of the three leading brands Veet, Gillette Venus and Bic means that the parent companies of these three brands Reckitt Benckiser, Procter & Gamble and Sté Bic respectively, are able to set the pace in the category and exercise a high degree of control. This of course make it difficult for newcomers to enter the category and makes it likely that there will be few changes seen in the competitive environment in depilatories during the forecast period.

More intense competition translates into lower unit prices

Competition between the leading brands in depilatories is expected to intensify over the course of the forecast period and this is likely to result in more intense price competition in both hair removers/bleaches and women’s razors and blades. This is set to mean lower prices in both categories and this can be expected to result in high numbers of women abandoning their use of men’s shaving products and turning to depilatories that are designed and marketed as being especially suitable for women.

Fragmentation continues to define category outside of the dominant leaders

While the three leading players Reckitt Benckiser, Procter & Gamble and Sté Bic accounted for around half of value sales in depilatories in 2018, outside of this consolidated bloc of leading players, sales remain highly fragmented. Despite the fairly high barriers to entry, new players do tend to appear in the category with some regularity, although it is uncommon for new brands to survive for any length of time in what has become a highly competitive category.

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Depilatories in Latvia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Depilatories industry in Latvia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Depilatories industry in Latvia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Depilatories in Latvia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Depilatories in Latvia?
  • What are the major brands in Latvia?
  • What is the most prevalent format in hair removal products?
  • What are the key product development trends in razors and blades?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Beauty and Personal Care market research database.

Depilatories in Latvia - Category analysis

HEADLINES

PROSPECTS

Rising environmental awareness continues to discourage consumption of depilatories
Low per capita usage of depilatories means considerable room for further sales growth
Growth set to be supported by rising incomes and rising female employment levels

COMPETITIVE LANDSCAPE

The dominance of the leading players presents barriers to entry
More intense competition translates into lower unit prices
Fragmentation continues to define category outside of the dominant leaders

CATEGORY DATA

Table 1 Sales of Depilatories by Category: Value 2013-2018
Table 2 Sales of Depilatories by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Depilatories: % Value 2014-2018
Table 4 LBN Brand Shares of Depilatories: % Value 2015-2018
Table 5 Forecast Sales of Depilatories by Category: Value 2018-2023
Table 6 Forecast Sales of Depilatories by Category: % Value Growth 2018-2023

Beauty and Personal Care in Latvia - Industry Overview

EXECUTIVE SUMMARY

Improving economy, rising income levels and freer spending all support sales growth
Sales of natural and organic products continue to gather pace
Major multinationals remain in the lead despite the increasingly stiff challenge from emerging local players
New product development in 2018 focuses on natural products offered by local players
Few major changes expected over the forecast period, with sales set to continue rising slowly but steadily

MARKET DATA

Table 7 Sales of Beauty and Personal Care by Category: Value 2013-2018
Table 8 Sales of Beauty and Personal Care by Category: % Value Growth 2013-2018
Table 9 GBO Company Shares of Beauty and Personal Care: % Value 2014-2018
Table 10 NBO Company Shares of Beauty and Personal Care: % Value 2014-2018
Table 11 LBN Brand Shares of Beauty and Personal Care: % Value 2015-2018
Table 12 Penetration of Private Label in Beauty and Personal Care by Category: % Value 2013-2018
Table 13 Distribution of Beauty and Personal Care by Format: % Value 2013-2018
Table 14 Distribution of Beauty and Personal Care by Format and Category: % Value 2018
Table 15 Forecast Sales of Beauty and Personal Care by Category: Value 2018-2023
Table 16 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources