The shavers market involves the manufacturing and sales of products that are used for shaving facial and bodily hair. Shavers include electric and non-electric razors. Some key types of shavers available in the market are rotary shavers, foil shavers, wet/dry shavers, and disposable razors. Shavers provide a close, smooth shave and help maintain personal hygiene and grooming. Consumers are increasingly preferring shavers over traditional blade razors due to their convenience, ease of use, and safety.
The Global Shavers Market is estimated to be valued at US$ 3.50 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 To 2031
Key Takeaways
Key players: Key players operating in the shavers market are Ellirt B.V, Kirembko B.V., Heat and Control, Inc., Vanmark Equipment LLC, TOMRA, Guangzhou Electric Equipment Group Co., Ltd., and Frenchfriesmachine. These players are focusing on new product launches and innovations to improve product functionality and convenience.
Growing demand: There is a Shavers Market Growth among male and female consumers due to increasing disposable incomes, expanding retail distribution, and rising focus on personal grooming and hygiene. The market is witnessing high demand for electric shavers that provide a hassle-free shaving experience.
Technological advancements: Manufacturers are investing heavily in R&D to develop advanced shavers with new technologies. Some new products feature multiple blade systems, pivot and flexing mechanisms for a close shave, waterproof capabilities, lithium-ion batteries, and smart connectivity via apps.
Market Trends
Increasing online sales: Online retail sales of shavers are gaining traction due to purchase convenience and doorstep delivery options. Various e-commerce giants offer a wide assortment of shavers at affordable prices online.
Male grooming trend: The male grooming trend is impacting the shavers market positively. Rising focus on self-care regimens among men is driving the demand for premium shavers tailored to male skin and hair types.
Market Opportunities
Premium and personalized shavers: Manufacturers have an opportunity to develop more personalized shavers tailor-made for individual consumer needs through AI-based customization options and detailed skin mapping technology.
Subscription and refill-based business models: Adopting subscription and automatic refill models for shaver cartridges and blades can help players boost recurring revenues while also improving customer retention.
Impact of COVID-19 on Shavers Market Growth
The COVID-19 pandemic has significantly impacted the growth of the Shavers Market Challenges And Opportunities. During the initial lockdown phase, the market experienced a decline in demand as personal grooming became a low priority amid financial uncertainties and rising health concerns. However, with the lifting of restrictions and reopening of markets, demand has started recovering steadily. Now people are paying more attention to personal hygiene and self-grooming necessities as the restrictions have led to the cancellation of salon visits.
Many parts of the supply chain were disrupted during the lockdowns due to restrictions on transportation and manufacturing. This led to shortages and increased the prices of raw materials like steel and plastics required for shaver manufacturing. Production volumes also reduced sharply. The market players faced challenges in ensuring smooth supply to retailers and e-commerce channels. However, with restrictions easing, supply chain operations are returning to normalcy.
Going forward, the market is expected to grow at a healthy pace. Increased focus on self-care and personal grooming habits developed during the pandemic will boost demand. Rising disposable incomes in developing regions will drive the market further. Market players are launching affordable shavers and subscription models to attract new customers. Focus on omnichannel distribution and leveraging direct-to-consumer channels will aid growth. While risks of repeated outbreaks remain, the market is well-positioned to navigate future challenges.
In terms of regions, North America accounted for the largest share of the global shavers market value in pre-COVID times due to high per capita spending on personal care products. However, the Asia Pacific region is expected to emerge as the fastest growing market in the post-COVID period. Rising incomes, growing millennial population attracted to male grooming products, and increased availability of affordable shavers are fueling market growth in the region. Countries like China, India and other Southeast Asian markets will drive the vast majority of new demand. Europe and Latin America are also recovering steadily and offer substantial growth opportunities.
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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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