The shavers market has witnessed significant growth over the past few years owing to the rising consciousness about personal grooming and hygiene among the male population globally. Shavers have become an essential grooming product for men to keep their face clean-shaven. Various product improvements including multi-blade systems, magnetic levitation trimmers, and lithium-ion batteries have made modern shavers highly efficient and convenient to use.
The Global Shavers Market is estimated to be valued at US$ 3.50 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024
Key Takeaways
Key players: Key players operating in the shavers market are Procter & Gamble, Philips, Panasonic Corporation, Société BIC, Edgewell Personal Care, Conair Corporation, Remington Products, Helen of Troy Limited, Harry’s Inc.
Key opportunities: Increasing disposable incomes in developing countries are expected to boost the Shavers Market Growth. Rising online sales of grooming products also provide lucrative growth opportunities.
Global expansion: Major players are focusing on expanding their footprint in high-growth markets like China, India, Brazil, and Argentina to gain market share. Acquisitions and partnerships with local distributors help brands penetrate regional markets.
Market Drivers
The growth of the Shavers Market Challenges And Opportunities can majorly be attributed to the rising cosmetic consciousness among male consumers globally. With increasing focus on appearance and grooming, shaving has become a daily routine for men. Rapid urbanization coupled with the growing working professional population has boosted demand for convenient personal care products. The emergence of new applications like body shaving and trimming has further augmented market growth. Easy availability through multiple retail channels and inexpensive pricing also support the increased adoption of shavers.
PEST Analysis
Political: In some countries, regulations related to privacy and security for internet-connected devices can impact the shavers market.
Economic: Changes in disposable personal income levels can influence consumer spending on shavers. During economic downturns, demand may decline as people cut back on unnecessary expenses.
Social: Shaving trends and preferences differ across cultures and age groups. Younger consumers are more open to new designs and technologies compared to older users.
Technological: Advancements like integrated trimming functions, waterproof capabilities and battery improvements are enhancing the user experience. Connected shavers with app control and sensor feedback are also gaining traction.
Geographical Concentration
North America accounts for the largest share of the global shavers market in terms of value. The region’s developed markets and high per capita spending on personal care contribute to its leading position.
Fastest Growing Region
Asia Pacific is projected to register the fastest growth over the forecast period. Rising incomes, growing male grooming awareness and increasing product choices are driving higher sales volumes across developing Asian countries.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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