The shavers market comprises of a variety of products including electric shavers and blade razors that are used for shaving purposes. Shavers help remove unwanted facial and body hair from the skin. Electric shavers provide a hassle-free shaving experience and allow for a close and comfortable shave. Meanwhile, blade razors such as cartridge and safety razors give a very close shave. The need for shavers arises due to societal and workplace norms of remaining clean shaven. The global male grooming industry has also been witnessing high growth, encouraging greater spending on products like shavers.
The Global shavers market is estimated to be valued at US$ 21.9 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 - 2028.
Key Takeaways
Key players operating in the shavers market are Procter & Gamble, Koninklijke Philips N.V., Panasonic Corporation, The Gillette Company, and Braun GmbH.
The Shavers Market Growth provides high opportunities in the developing countries of Asia Pacific and Latin America owing to increasing disposable incomes, growing awareness about male grooming, and adoption of Western lifestyles in these regions. International players are expanding their presence through partnerships with local retailers to capitalize on these opportunities.
Major players are focusing on global expansion by strengthening their foothold in high growth regions through collaborations, mergers, and acquisitions. For instance, Procter & Gamble acquired Merck's consumer health business including its sun care brand to expand in Europe and Brazil. Companies are also launching region-specific products to cater to the needs and tastes of local consumers.
Market Drivers
One of the key drivers for the Shavers Market Challenges And Opportunities is the increasing spending on male grooming products. More men are adopting self-grooming routines to maintain their looks and hygiene. This has encouraged greater spending on products like shavers, trimmers, hair gels, deodorants and fragrances.
Market Restraints
High price points of advanced electric shavers is a major challenge restraining widespread adoption. Many consumers in price-sensitive developing regions opt for cheaper disposable razors instead of high-cost electric options. Lack of adequate shaving skills among some men to avoid cuts and nicks during shaving also discourages usage of shavers at times.
Segment Analysis
The shavers market can be segmented into electric shavers and non-electric shavers. Electric shavers dominate the market owing to their ease of use and convenient features. Within electric shavers, foil shavers dominate as they provide a close shave while being reasonably priced. Rotary shavers follow foil shavers in terms of market share. Rotary shavers deliver an even closer shave but tend to be more expensive than foil shavers. T-blade trimmers and other shavers constitute a minor share of the electric shavers segment.
Non-electric shavers include safety razors, cartridge razors, and disposable razors. In terms of shaving preference, disposable razors dominate the non-electric segment due to their affordability and convenience. Users find them more convenient than handling razor blades. However, safety razors are gaining some market share owing to environmental concerns around plastic waste from disposable razors.
Global Analysis
North America accounts for the largest share of the global shavers market owing to high demand for personalized grooming products. Asia Pacific follows North America and is also the fastest growing regional market. Improving living standards coupled with rising consciousness about personal care among consumers is fueling market growth in Asia Pacific. Within Asia Pacific, China represents the largest country market while India is growing at a rapid pace. Europe is another major regional market, wherein Germany, France, and the UK collectively account for a significant share.
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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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