Is hair removal cream safe?

Could you elaborate on the safety considerations of hair removal cream? Many individuals opt for this method as a quick and convenient alternative to shaving or waxing. However, are there any potential risks or side effects that should be taken into account? I'm particularly interested in understanding the chemical composition and how it interacts with the skin. Additionally, is it suitable for all skin types, or are there any contraindications that should be avoided? Providing a detailed answer with these considerations would greatly assist those considering the use of hair removal cream.