Shavers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global shavers market is poised for robust expansion during forecast period. By the end of 2031, the market is expected to reach a substantial valuation of around US$ 53 billion, marking a substantial increase from its current estimated size of approximately US$ 31 billion in 2024.

Innovation and Technological Advancements Drive Competition

Shaver manufacturers are leaving no stone unturned in their pursuit of technological advancement and product innovation. To maintain a competitive edge, major companies are actively investing in Research and Development (R&D) efforts. Prominent participants in the industry include Koninklijke Philips N.V., Panasonic Corporation, and Procter & Gamble, who are at the forefront of driving product innovation.

Key market players are increasingly focusing on providing high-performance shavers with extended battery life and additional features. Product design is also a key area of emphasis, with companies striving to create unique offerings that stand out in the market.

Market Analysis and Influential Factors

The shavers market is experiencing growth influenced by factors such as the expanding female consumer segment, increasing disposable shaver usage, and a rising demand for premium grooming products. Continuous technological advancements are expected to fuel even stronger market growth in the coming years.

Partnerships between leading companies and a growing demand for user-friendly products are projected to drive sales in the market. Consumers are increasingly seeking convenience and cost-effectiveness, bringing beauty experiences into their homes.

Sustainability practices and ongoing technological innovations are anticipated to further boost market expansion, maintaining a substantial CAGR through 2031.

The Impact of the Shift from Store-based to Online Retailing

The surge in online retailers has made online shopping a popular choice in recent years. Online merchants have an advantage in offering specialized items not readily available in traditional brick-and-mortar stores. Moreover, the convenience of doorstep delivery associated with online retailing enhances the overall shopping experience.

The fast-paced lifestyle of consumers, coupled with attractive discounts offered by online retailers, has led to a shift towards online shopping. This trend is expected to further accelerate market expansion.

Challenges of High Prices in Electric Shavers

While consumers prefer high-performance products, the high prices of electric shavers have limited their adoption. Cheaper alternatives in the form of traditional grooming products have posed competition to electric shavers. Manufacturers of electric shavers are facing challenges in identifying suitable markets for growth due to the high cost of their products and the evolving preferences of consumers.

Moreover, the preference of baby boomers and older individuals for parlors and salons over DIY grooming is also impacting the market to some extent.

Country-wise Insights

Enhanced Digital Ecosystem Network Fuels U.S. Shaver Market Growth

The United States benefits from high digital penetration, enabling businesses to significantly expand their reach. The burgeoning e-commerce network has led to a shift in shaving product sales from offline to online platforms. Online discounts and grooming offers have further accelerated shaver sales, making it easier for consumers to compare prices and products. The improved digital environment in the U.S. is expected to drive the growth of shaver usage and sales.

Indian Millennials Unlock Growth Opportunities

India's majority population consists of millennials who are increasingly gravitating towards luxury grooming items and technologically advanced devices. Rural regions offer untapped potential markets for grooming products, presenting an opportunity for industry players to increase profits. As Indian millennials become more beauty-conscious, they are willing to invest more in grooming, supporting the adoption of shavers in the country.

Customization & Personalization Boost U.K. Shaver Adoption

Consumer demand for customized grooming equipment, especially shavers, is on the rise in the United Kingdom. Players are responding by offering personalized shavers, with options like customized Gillette razor handles featuring team logos or unique designs. Personalization extends to handles, blades, and designs, attracting a broader clientele in the UK.

Aggressive Expansion in China Drives Shaver Sales

China has witnessed consistent growth in shaver sales over the past decade, propelling its shaver market to rapid expansion. The country's booming economy, characterized by business competence and rising consumer goods demand, positions China as a major global manufacturer of consumer products. Continued development, driven by industrial imports, exports, production, and investments, is expected. The consolidation of emerging firms is likely to further stimulate shaver sales in China.

Competitive Landscape

Market participants are actively seeking innovative ways to reduce operational costs while increasing production efficiency. These efforts are in response to rising input costs and the power wielded by retailers. Established companies are examining their operational chains from both input and output perspectives. Building strategic relationships with key suppliers or players to achieve greater efficiency is expected to help reduce operational expenses.

Key Companies Profiled

• Panasonic Corporation
• Société BIC SA
• The Procter & Gamble Company
• Koninklijke Philips N.V.
• Edgewell Personal Care
• Conair Corporation
• Remington Products Co. LLC (Spectrum Brands Holdings, Inc.)
• Helen of Troy Limited
• Harry’s Inc.
• Dollar Shave Club
• The Eltron Company
• Wahl Clipper Corporation
• Super-Max Limited
• Andis Company, Inc.
• Ningbo Kaili Holding Group Co., Ltd.

Key Segments Covered in Shavers Industry Research

Shavers Market by Product Type:

• Electric Shavers
• Electric Clippers/Trimmers
• Rotary Shavers
• Foil Shavers
• Non-electric Shavers
• Safety Razors
• Cartridge Razors

Shavers Market by End User:

• Male
• Female

Shavers Market by Sales Channel:

• Hypermarkets/Supermarkets
• Specialty Stores
• Multi-brand Stores
• Online Retailers
• Other Sales Channels

Shavers Market by Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

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