Depilatories saw smaller growth in 2020 than compared to previous years. This is due to nationwide social distancing leading to fewer dressing up and grooming occasions, as people were spending more time at home.
Whilst the closures of spas due to COVID-19 in 2020 slowed down this trend, the overall rising prominence of permanent hair removal services in spas and beauty salons poses a threat to the development of depilatories through consumer channels. Also, due to the high number of such services appearing, competition is strong within the spas and beauty salons too, with average prices of the service being pushed down through numerous promotions.
Reckitt Benckiser Group Plc (RB) maintained its significant lead in depilatories in 2020, beyond which the category is highly fragmented with the majority of shares in “others”. The player offers a wide portfolio and, whilst its products tend to be more expensive than many other brands, consumers are willing to pay a higher price for quality and safety.
Depilatories is expected to recover in line with economic recovery and a return to pre-pandemic lifestyles over the forecast period. A bounceback is expected in 2020-2021, which will continue with healthy growth, albeit at a slightly slower rate than the bounceback level.
The strongest growth over the forecast period is expected in women's razors and blades, as female consumers are switching away from simply just using men’s razors and blades as unisex products, and are starting to pay more attention to products specifically designed for women. Nevertheless, there will continue to be a number of female consumers who still use men’s razors and blades, especially in rural areas.
The leading brands will continue to be those noted by name in depilatories over the forecast period. Namely, the leading Reckitt Benckiser Group, The Procter & Gamble Co and Oral-B (Vietnam) Ltd.
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Understand the latest market trends and future growth opportunities for the Depilatories industry in Vietnam 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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