In 2019, worldwide sales of shavers accounted for revenues worth US$ 25 Bn. A new research published by Persistence Market Research (PMR) indicates that mounting sales of electric shavers compared to their non-electric counterparts attribute to improved availability, high speed, comfort, convenience, reliability, and ease of use of the former. Electric trimmers, followed by rotary shavers, are projected for a third of electric shaver sales at a global level. Growth of beard grooming as the top trend over the recent past is expected to account for high market value share of electric trimmers.
Over half the revenues of shavers market are contributed by male consumers which is further complemented by increasing preference for body hair removal among men. The trend of body hair removal is peaking which would remain among the key factors pushing shaver sales in the near future.
The report opines that increasing availability of premium products on retail shelves, convenient shaving products, and technological advancements such as high precision blades and advanced technological features such as connectivity with apps are likely to be contributing to the build-up of shavers market during forecast period (2019-2029).
Key Takeaways - Shavers Market Study
- Increasing spending of electronics companies in R&D to enhance efficiency of shavers is shaping the market at a global level.
- Companies are focusing on introducing competitively priced products in shavers and shaving products category.
- Asia Pacific and Latin America are expected to remain lucrative for investors in shavers market. Market attractiveness of Latin America is attributed to wider penetration of key players in Latin American market.
- Although males continue to be the prominent consumer cluster, the female consumer base has been expanding at a significant rate in recent past. Increasing product awareness and availability are expected to provide tailwinds to sales of shavers for females, especially in developing economies.
- Potential growth opportunities for market are particularly spotted in GCC countries owing to widening female consumer base in these countries.
- Online retail is projected to retain substantial contribution to the growth of shavers market, particularly in BRIC countries.
High Quality, Economic Price – Key to Penetrate Developing Markets
Some of the key players identified across the value chain of the global shavers market include Koninklijke Philips N.V., Conair Corporation, Remington Products Co. LLC (Spectrum Brands Holdings, Inc.), Dollar Shave Club, The Eltron Company, Wahl Clipper Corporation, Super-Max Limited, Andis Company, Inc., Kai Corporation, Parker Safety Razor, Ningbo Kaili Holding Group Co., Ltd., Dorco USA, Havells India Limited and others. The market for shavers is highly competitive, and private label brands are expected to enjoy above average growth in revenues, particularly in developing markets such as Latin America. Leading shaver manufacturers are focusing on scratch resistant features in new offerings, in addition to their durability and even heat distribution that accounts for high quality and convenience of shavers.
More about Shavers Market Report
Persistence Market Research, in its new offering, brings to fore an unbiased analysis of the global shavers market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the shavers market on the basis of product type (electric shavers and non- electric shavers), end user (male and female), and distribution channel (supermarkets & hypermarkets, online retailing, and others) across seven major regions. The electric shaver and non-electric shaver is further bifurcated into electric clippers/trimmers, rotary shavers, and foil shavers (electric shavers) and Safety Razors, Cartridge Razors (non-electric shavers).
About the Consumer Goods Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the consumer goods team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the consumer goods industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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