Shavers Market - Overview and Outlook by Potential Growth 2024-2032

Shavers Market Synopsis:

Shavers Market Size Was Valued at USD 3.3 Billion in 2023, and is Projected to Reach USD 5.6 Billion by 2032, Growing at a CAGR of 6.2% From 2024-2032.

The shavers market therefore entails the international systems, parties or industries that are involved in the manufacturing, supply and retailing of personals’ massaging tools for shaving or removal of hair. Such devices include electric and non-electric shavers meant for shaving as well as facial and body grooming, with accuracy, ease and speed. There exist various statuses of the products in the market including the products for beard and body trim and grooming, special products for sensitive skin and for particular style purposes. While grooming trends have changing, so has the shavers market, known through technological improvement, growth in urbanization and improved awareness on hygiene. As more consumers is becoming conscious about selecting long-lasting shaving gear that won’t harm their skin, moreover showing efficient performance, manufacturers have not ceased to expand their exports within a broad range while targeting for the varying population.

Global shavers market has shown immense growth in the last few years due to factors such as increase in discretionary income, increasing urban population, and changing lifestyle. Towards this direction, consumers are constantly adding modern grooming tools like the electric shavers to their collections because they help shave time and give professional results with grooming. Consumers are now going for the 3 in 1, 4 in 1 shavers that can be used for beard trimming, hair clipping as well as shaving facial hair. However, constant improvements of the blade, ergonomic aspects and other added features made these devices more comfortable and precise to use causing this products’ popularity.

At regional level, the factors which influence the market are cultural aspects regarding grooming, size of the population and extent of technology awareness. North America and Europe particularly have continuously displayed a stable demand for electric shavers due to high purchasing power with an inclination to luxury shaving products. At the same time, the usage of these tools is rapidly growing in such regions as Asia-Pacific and the Latin America due to the augmentation of people’s awareness of personal sanitation and rise in percentage of middle class residing in urban areas. This dual regional trend shall be seen placing the global shavers market on a growth trajectory during the forecast period.

Shavers Market Trend Analysis:

Rise of Smart Shavers

• The current trend in the shavers market is the incorporation of artificial intelligence components and connectivity knobs to the smart shavers. Such progressive gadgets deliver features like instant coaching on how to shave, custom trimmer settings, as per the skin type, and signals for blade change. A few even have mobile app connectivity so the application can monitor one’s shaving regime and recommend suitable ones. With people valuing things that are convenient, personal and automatic, many connected shavers brands notably those targeting the younger generation are adopting the smart shavers. There is a trend that this approach will change the personal grooming by making it in harmony with the IoT devices usage.

Expansion in Emerging Markets

• The growth for the shavers market can be identified in the Asia-Pacific, African and Latin American nations. Growing populations in Asian countries, higher disposable income per capita, and an improving sense of how personal grooming is important have been fueling the electric and non-electric shaver markets across these areas. Further, the emphasis is on the development of low-cost products in the form of battery-operated devices appealing to rural and semi-urban populace. Investing in localized advertisement, distribution exertions, and local product customization are also additional measures that are deepening the market reach in such areas. With these markets due to grow even further, they will play a bright role in boosting the total sales of the global shavers market.

Shavers Market Segment Analysis:

Shavers Market is Segmented on the basis of Type, Distribution Channel, End User, And Region

By Type, Electric, Non-electric segment is expected to dominate the market during the forecast period

• These shavers are likely to act as the leaders in the shavers market in the forthcoming years due to their user-friendliness, time-saving capabilities and adaptability. These grooming devices have gained popularity among consumers as the best machines when it comes to grooming solutions especially among the urban dwellers. Functions like the cordless use, showerproof, pack with rechargeable batteries make the electric shavers to fit in the modern life. Additional features of high-tech hair care appliances include self-sharpening blades and skin-friendly setting options make them even more attractive.
• Conventional wet and dry shavers still has a big market share especially in areas with low electricity and those clients who prefer manual shaving. These shavers are best suited for simplicity, cheap and are normally very durable. The manufacturers are also advancing in this segment by developing ergonomic looks and skin-sensitive material to create the best shaving experience. The electric and non-electric segment is a nice combination, meeting consumer requirements for various types of products, thus avoiding an excessive rate of market development.

By Distribution Channel, Online, Offline segment expected to held the largest share

• Sensor based and the traditional offline segment includes the retail stores, supermarket, specialty shops are expected to dominate the product this year. Offline channels are preferred by consumers mainly due to the tangible benefits of the product and packing before purchasing it. In this segment, retailers are also simultaneously making an effort to lure consumers into shopping with features like live demonstrations, special offers and attractive after-sale services. All these factors explain why the sales that are being made, and have continued to be made are predominantly offline.
• But the online segment is gradually becoming more popular due to an increase in the number of people using e-shops and the possibility of home delivery. Through online channels consumers have a broader offer, constant information concerning price offers and customers’ feedbacks to make a right decision. Furthermore, through the use of digital media campaigning and steps, such as social media, brands the savvy tech-consuming population enabling online sales. Manufacturers can therefore use this dual ‘‘channel’’ type to effectively penetrate the market and increase organizational sales.

Shavers Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America is leading the shavers market in 2023 with a market share of around 35%. Activities that have contributed to leadership of this region include high consumer expenditure on grooming products, technology adoption and access to a formidable distribution channel. For instance, there has been a continuing high demand for electric shavers in the United States mainly due to demand for premium and versatile shavers. Secondly, people’s consciousness of environment friendly grooming products has forced manufacturers to expand rights in this sector. North America is ready to rule the market even in the forecast period, due to its well developed market and consistent progress.

Active Key Players in the Shavers Market:

• Andis Company (USA)
• Beurer GmbH (Germany)
• Conair Corporation (USA)
• Havells India Ltd (India)
• Koninklijke Philips N.V. (Netherlands)
• Panasonic Corporation (Japan)
• Procter & Gamble Co. (USA)
• Remington Products Company (USA)
• Shenzhen Smate Technology Co., Ltd. (China)
• Spectrum Brands Holdings, Inc. (USA)
• Syska (India)
• Wahl Clipper Corporation (USA)
• Xiaomi Corporation (China)
• Zhejiang VGR Electric Appliance Co., Ltd. (China)
• Zhejiang Xingyi Metal Products Co., Ltd. (China)
• Other Active Players