Shaving Industry Overview
The global shaving market size was valued at USD 4.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2028.
The market is majorly driven by the rapidly expanding cosmetic industry. Also, the rising demand for razors & blades is propelling the industry’s growth. Personal care products are one of the most growing segments in the cosmetics industry as they have become an important part of fashion. The worldwide market is growing as a result of a rising number of individuals being involved in corporate culture and placing a value on personal grooming. Thus, increased expenditure on personal care products is expected to fuel the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Shaving Market
Furthermore, the growth is predicted to be aided by a higher quality of living and rising disposable income levels. The closure of factories owing to the COVID-19 pandemic resulted in a decrease in shaving products manufacturing. This affected the overall industry. Due to the worldwide shutdown, all online platforms, retailers, and retail establishments were closed. This restricted the trade of these items, which, in turn, hampered shaving product sales across the globe. The global market is expected to witness strong growth post-pandemic as shaving products have become a necessity in every household.
The pandemic had also impacted logistics suppliers and farmworkers. Due to nationwide lockdowns, all the shops and industries were closed, which adversely affected the sales. Increasing demand for chemical-free and organic shaving products is expected to be the key trend transforming the global market. Due to increased consumer knowledge of the detrimental effects of some chemical compounds often used in shaving creams and other grooming products, the demand for organic, clean-label, and natural products has increased in the global market. The emergence of the premiumization trend in organic shaving products, along with the rising influence of clean-label components, is further contributing to the market growth.
Chemicals in excessive quantities can have an adverse impact on the skin, thus manufacturers are focusing on replacing them with organic and natural components. In addition, to improve the shaving experience, manufacturers are introducing products with unique aromas and ingredients like cocoa butter and activated carbon. This factor is predicted to increase product demand over the forecast timeline. Increasing awareness regarding the importance of shaving care products is another factor driving the market. Demand from consumers for different types of shaving products is leading to innovation in the industry. However, factors, such as the trend of keeping full bread and the popularity of electronic trimmers, may hinder market growth over the forecast period.
Browse through Grand View Research’s Beauty & Personal Care Industry Research Reports.
- Wet Shave Market – The global wet shave market size was valued at USD 11.2 billion in 2018 and is estimated to progress at a CAGR of 9.5% from 2019 to 2025 owing to an increasing number of people becoming a part of corporate culture and giving importance to personal grooming. The market is anticipated to be driven by increasing spending on personal care products and continuous innovations with regard to wet shave products.
- E-commerce Market – The global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. Increasing penetration of the internet is bolstering the smartphone-using population across the world.
Shaving Market Segmentation
Grand View Research has segmented the global shaving market on the basis of product, distribution channel, and region:
Shaving Product Outlook (Revenue, USD Million, 2017 – 2028)
- Razors & Blades
- Beard Moisturizer, Pre-shave Cream
- After-shave emulsion
Shaving Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
Shaving Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- April 2019: Gillette Venus, a Procter & Gamble brand, established a partnership with Vera Bradley to create a razor collection for women.
Key Companies profiled:
Some prominent players in the global shaving market include
- Beiersdorf AG
- Church & Dwight Co, Inc.
- Reckitt Benckiser Group plc
- Procter & Gamble
- Oriflame Holding AG
- Koninklijke Philips N.V.
- Syska India Ltd.
- Harry’s Inc.
- Societe BIC S.A. (BIC)
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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