Cosmetic Wax Market: Introduction
- Cosmetic wax is generally used in cosmetics and for personal care & grooming applications. It provides texture and structure to cosmetic products including lip balms, lipsticks, creams, and lotions. Natural, semi-synthetic, and synthetic waxes are a mix of esters, alcohols, and fatty acids. Cosmetic wax is broadly used in personal care formulations to modify skin feel and improve the performance of the product. It is majorly used for the process of hair removal, known as waxing. Beeswax is a cosmetic wax which is naturally produced by honeybees.
Increase in population of working women and rising disposable income drives the market
- The increase in number of working women indirectly affects the cosmetic wax market. Rise in disposable income has increased the spending power of users. Women nowadays are more independent and spend accordingly to their needs. The impact of the beauty industry and social media influence are encouraging women to look more presentable which ultimately increases the usage of cosmetic products. These factors majorly lead to the expansion of the cosmetic wax market.
Growing beauty and fashion industry to impact growth of the global cosmetic wax market
- Cosmetic wax is generally used in cosmetic products and for hair removal purposes. It is majorly used to beautify the skin. Growth of the beauty and fashion industry is expected to positively impact the cosmetic wax market. People in the film industry and beauty & fashion industry need to groom themselves regularly and remain presentable which boosts the usage of cosmetic wax. Also, the extensive usage of cosmetic wax containing products such as lip balms, lipsticks, creams, and lotions in these industries are projected to drive the sales of cosmetic wax in the near future.
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Rising trend of natural products to create more opportunities in the cosmetic wax market
- Nowadays, people are increasingly demanding natural products due to concerns about health and skin care. The growing awareness about benefits of natural products is set to create more opportunities for the natural cosmetic wax market in the coming years.
Asia Pacific to Lead the Global Cosmetic Wax Market
- In terms of region, the global cosmetic wax market can be divided into North America, Asia Pacific, Europe, and Middle East & Africa.
- Country-level analysis of North America includes Canada, the U.S., and Rest of North America. Analysis and forecast of the cosmetic wax market in Asia Pacific features India, China, Japan, and Rest of Asia Pacific. Similarly, Europe includes markets across the U.K., Germany, France, and Rest of Europe. Middle East & Africa cosmetic wax market includes South Africa, GCC countries, and Rest of Middle East & Africa. The South America is segmented into Brazil, and Rest of South America for the analysis of the cosmetic wax market.
- Asia Pacific is likely to witness maximum demand for cosmetic wax from 2019 to 2027 followed by North America.
- Leading manufacturers of cosmetic wax have extensive distribution networks along with deep product penetration. Several manufacturers of cosmetic wax are focusing on innovation in their products and manufacturing products with more variations.