by Over the last few years, the availability of cost-effective and high-performance electric razors have enabled the shavers market to grow at a significant pace.
The global shavers market, which includes wet shavers (razors, blades) and dry shavers (electric razors), is estimated to be valued at US$ 34183.42 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 To 2031.
Shavers are personal grooming products used to trim or remove hair from the face or body. Wet shavers market include razors and blades that require shaving cream or gel and water, while dry shavers or electric shavers do not require any additional products and can be used on dry skin. Electric shavers offer convenience as they are easy to use, do not cause nicks or cuts, and provide a close, comfortable shave. The growing preference for dry shaving among millennial consumers due to their fast-paced lifestyle has been a major driver for the electric shavers market.
Key Takeaways
Key players operating in the shavers market are Fox-IT, Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc.
The Shavers Market Demand Developers are focusing on launching innovative products with advanced features like wet/dry capabilities, precision trimming, multiple blade options, long battery life, and smart connectivity.
Technological advancements like the integration of artificial intelligence, microcut technology, lithium-ion batteries, wireless charging, and skin detection sensors have enhanced the features of electric shavers, improving shaving efficiency and comfort.
Market Trends
Multi-functional shavers: Manufacturers are developing multi-functional shavers Market Size And Trends that can trim, edge, and shave the face and body. Products with hair clipper attachments, grooming kits, and travel lock features are gaining traction.
– Smart connected shavers: Major players are focusing on launching shavers with Bluetooth and Wi-Fi connectivity that can be controlled via mobile apps for customization, tracking shaving history, and software updates.
Market Opportunities
Personalization and customization: There is potential for shavers offering personalized settings for shaving patterns, speed, pressure, and facial mapping tailored to individual skin and hair types.
– Emphasis on skin care: Integrating ingredients like vitamins, moisturizers, and anti-acne/anti-irritants in shaving cartridges, foils, and trimmers can address consumers’ skin care needs during shaving.
Impact of COVID-19 on Shavers Market Growth
The outbreak of the COVID-19 pandemic has significantly impacted the Shavers Market Size And Trends During the initial lockdowns imposed worldwide, the demand and sales of shavers declined drastically as people stayed indoors. Shaving became less frequent as social interactions and workplace attendance reduced significantly. However, as lockdowns have eased in many parts of the world from mid-2021, the shavers market has started witnessing a revival. With offices and other social settings reopening, the need to maintain grooming and hygiene standards has driven consumers to purchase new shavers.
Manufacturers faced disruptions in their supply chains and production facilities during the peak of the pandemic. Restrictions on travel and transport led to shortages of raw materials and components. It also hampered their ability to ship finished products to markets. Though e-commerce helped drive some sales, overall revenues dropped in 2020. Brands focused on restoring supply chains and ramping up production in 2021. They also introduced attractive offers and deals to revive consumer demand in the post-pandemic recovery phase. Going forward, companies need to ensure resilience of their manufacturing and distribution infrastructure to deal with any future widespread public health crises.
Geographical Regions with Highest Shavers Market Value
The shavers market in terms of value is highly concentrated in North America and Western Europe. In North America, the United States accounts for the largest share due to high per capita income and spending on personal grooming products. The presence of leading global brands and extensive distribution channels further aid market growth in the region. In Western Europe, countries like Germany, France, the UK and Italy have emerged as major markets over the years. Mature markets in these nations combined with an emphasis on hygiene and appearance drive continued demand for shavers.
Fastest Growing Regional Market for Shavers
The Asia Pacific region is projected to be the fastest growing market for shavers globally during the forecast period. Factors such as rising disposable incomes, growing middle class populations and increasing awareness about personal care are fueling shavers sales across developing Asian countries. In particular, China and India represent highly lucrativeSHAVER markets. Improvements in online and offline retail infrastructure further aid penetration of international shaver brands in these high-potential Asian markets. Growing consciousness about hair removal along with changingstyling trends and male grooming habits would continue to boost shavers uptake across the Asia Pacific region in the coming years.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Priya Pandey
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