Shavers Global Market Report 2024

A shaver is a personal grooming tool designed to achieve a well-balanced shave, combining closeness with gentleness. It operates by ensuring that the blades come in contact with the skin, facilitating the cutting of stubble, even in the nooks and crannies of the face. Shavers are known for their durability, longevity, and their ability to provide a high-quality shaving experience.

The main types of shavers are electric shavers and non-electric shavers. Electric shavers are equipped with gears, wheels, and bearings that lift and cut whiskers directly from the skin. These shavers are suitable for use by both men and women, and they are available through various sales channels, including hypermarkets, supermarkets, specialty stores, multi-brand retailers, online platforms, and other sales outlets.

The shavers market research report is one of a series of new reports that provides shavers market statistics, including shavers industry global market size, regional shares, competitors with a shavers market share, detailed shavers market segments, market trends and opportunities, and any further data you may need to thrive in the shavers industry. This shavers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The shavers market size has grown strongly in recent years. It will grow from $26.83 billion in 2023 to $28.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%.
The growth observed in the historical period can be attributed to factors such as increased emphasis on grooming and personal hygiene practices, the expansion of men's grooming product markets, growing demand for razor blades and electric shavers, evolving fashion and grooming trends, and the influence of an aging population.

The shavers market size is expected to see strong growth in the next few years. It will grow to $37.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to several factors, including the adoption of sustainable and eco-friendly materials in shavers, the growing focus on women's grooming and inclusivity, the emergence of AI-powered smart shavers, trends in body hair grooming, the demand for personalized and customizable shaver settings, and the global expansion of grooming product markets. Key trends expected in the forecast period include the integration of AI-powered skin analysis for personalized shaver settings, the introduction of shaver subscription and delivery services, the use of 3D-printed and recyclable materials in shaver manufacturing, the incorporation of UV sterilization and disinfection features in shavers, the development of waterproof and shower-safe shavers, and a shift towards sustainable packaging and refilling options.

The growth of the shaver's market has been significantly influenced by the increasing preference for grooming products. Grooming products encompass a range of items such as hair styling, beard grooming, and related shaving products. Individuals are investing in grooming products not only to enhance their physical appearance but also to boost confidence and gain a competitive edge in both personal and professional growth. For instance, in November 2022, Gillette, a U.S.-based brand specializing in shaving systems and cartridges, as well as Oral B toothbrushes, reported an 8.2% increase in quarterly income from operations, reaching 6.2 billion rupees. Therefore, the growing preference for grooming products is anticipated to contribute significantly to the shavers market's growth.

The ascent of e-commerce is expected to drive the future growth of the shavers market. E-commerce, involving the online buying and selling of goods and services, provides a convenient platform for purchasing shavers. It offers a broad selection, competitive pricing, and the convenience of doorstep delivery, enhancing the overall shaving shopping experience. As of September 2022, consumer e-commerce constituted 30% of the UK's overall retail sector, marking a significant increase from 20% in 2020, according to the International Trade Administration. The annual e-commerce revenue in the UK exceeded $120 billion, with 82% of people making at least one online purchase in 2021. Therefore, the rise of e-commerce is a key driver behind the growth of the shavers market.

Product innovation is a prominent trend gaining traction in the shavers market. Key players in the shaving market are actively developing new products to strengthen their market positions. For instance, in January 2021, Xiaomi Youpin, a manufacturer, launched a groundbreaking product in the form of the MIJIA Electric Shaver S700. This shaver features ceramic blades and incorporates a high-end direct-drive brushless motor, enhancing the product's service life, corrosion resistance, and skin-friendliness, providing users with a more efficient shaving experience.

Major companies operating in the shavers market are directing their focus on shaving units with more blades to gain a competitive advantage. Shavers equipped with multiple blades generally offer a closer and smoother shave by efficiently cutting hair, reducing the need for multiple passes. In May 2023, Panasonic Holdings Corporation, a Japanese electronics company, introduced its first 6-blade shaver, the Arc6. Engineered to remove thick stubble efficiently, the Arc6 can trim four times as many challenging, long, and flat-lying hairs in a single stroke compared to the Panasonic Arc5 5-blade razors. The Arc6 features two finishing blades, two lifting blades, and two innovative thick stubble blades with a hypoallergenic stainless steel coating, delivering a premium shaving experience.

In November 2021, Edgewell Personal Care Company, a U.S.-based multinational consumer goods company, completed the acquisition of Billie Inc. for $310 million. This strategic move aims to strengthen Edgewell's presence in the Beauty & Personal Care sector and solidify its leading position in the women's shave category. Billie Inc., a U.S.-based digitally native, direct-to-consumer brand, focuses on providing high-quality shaving and premium body care products for women.

Major companies operating in the shavers market include Koninklijke Philips N.V., The Procter & Gamble Company, Panasonic Corporation, Wahl Clipper Corporation, Conair Corporation, Super-Max Limited, Société Bic S.A., Havells India Limited, Spectrum Brands Holdings Inc., Edgewell Personal Care LLC, Remington Products Company L.P., Helen of Troy Limited, Harry's Inc., The Eltron Corporation, Ningbo Kaili Electrical Appliance Co. Ltd., Philips Norelco, Braun GmbH, MANGROOMER, Andis Company, Maxam Company, Vivitar Corporation, Optimus Corporation, Emjoi Corporation, Epilady Inc., Eternal Products, GEORGE CHARALAMBIDIS LYMBERPA S.A., Ladygroomer, Perfect Life Ideas, PriTech International Inc.

Asia-Pacific. was the largest region in the shavers market in 2023. The regions covered in the shavers market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the shavers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The shaver market consists of sales of foil, rotary and single blade shaver. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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