Depilatories experienced a marginal upturn in demand in 2020, driven by the most popular format of hair removers/bleaches. Unsure of the length of the lockdown, many consumers wanted to ensure that they were able to continue maintaining personal grooming routines with beauty salons forced to close as they were deemed non-essential businesses.
Depilatories became increasingly competitive in 2020 due to greater exposure amongst consumers to the variety of options available online compared to limited choices offered by drugstores/parapharmacies and leading distribution channel, modern grocery retailers. This was supported by a notable increase in online advertising during the first half of the year for depilatories as the pandemic emerged.
Reckitt Benckiser (Philippines) Inc retained its dominance of depilatories in 2020, benefiting from its leadership of the most popular format, hair removers/bleaches with its brand Veet. The latter offers a range of products including Veet Brightening Hair Removal Cream which claims to produce visibly brighter skin due to the use of microbeads.
Volume sales of depilatories are predicted to remain static and undynamic heading into the forecast period, although the category will see more dynamic volume growth from 2023 onwards. With further restrictions in place, some consumers are likely to have taken a more relaxed approach to their personal grooming routines after a year of lockdowns, resulting in prolonging the length of time between depilation.
Players are likely to look to innovation to add interest and value to depilatories due to competition from both beauty salon services, and DIY products that some consumers traditionally try through the use of natural ingredients such as sugar, lemon juice and salt to create and alternative sugar wax. This trend has been supported by the internet and social media with articles and online tutorials appearing for natural treatments, which claim to be less harmful to the skin and can have longer lasting results.
The distribution of depilatories in the Philippines has potential to further expand over the forecast period in favour of e-commerce, as players and retailers look for ways to extend their consumer reach, particularly amongst tech-savvy younger consumers, who tend to spend longer periods of time on their digital devices and are increasingly exposed to and influenced by online promotions, advertising, and social media collaborations. Moreover, heavy discounting tends to occur more frequently online compared to physical retailers, with the likes of Watsons benefiting from an omnichannel strategy.
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Understand the latest market trends and future growth opportunities for the Depilatories industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Depilatories research and analysis database.
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