Global Heated Razor Starter Kit Market Insights Covering Market Dynamics and Competitive Scenario through 2027
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The heated razor starter kit market comprises of two segments which are segmented by application into elderly, adults and teenagers and by distribution channel into offline retail stores and online. The global heated razor starter kit market is estimated to grow at a moderate CAGR over the forecast period (2020-2027).
Rapid Urbanization coupled with High Disposable Incomes
The growth of the market is driven by several factors such as rapid urbanization and a growing adult working population with disposable incomes, who are attracted to such luxury products, owing to the comfort derived from using these products along with various other features. As per a report of the World watch Institute, around two-thirds of the global population belong to the working age group, which is considered as the highest share of working population in the past 60 years and this figure is anticipated to grow throughout the second half of the century. There has also been a rise in the number of internet users and smartphone users across the globe, owing to internet becoming an important tool for handling various activities. The number of online transactions performed by users have been increasing every day that can be completed within minutes, instead of having to be physically available at every place.
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The adult population falling under the application segment is set to witness a decent growth, owing to the availability of huge disposable incomes and their attraction towards luxury consumer goods that provide comfort for the user. The online segment falling under distribution channel segment is anticipated to witness a steady growth, owing to the large working population finding online segment to be lucrative and convenient, as they have to only place the order online and the product is delivered at the doorstep of the consumer.
The global heated razor starter kit market is segmented into five major regions comprising of North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The market in North American region is estimated to witness a decent growth in heated razor starter kit market, owing to the presence of the only manufacturer of such heated razors and the huge working young adult population with high disposable incomes that are attracted towards these products, which is predicted to drive the growth of the market over the forecast period. The market in Asia Pacific region is anticipated to grow at a rapid pace, owing to a huge young skilled adult working population that are possessing high disposable incomes and are attracted towards luxury consumer goods that offer convenience to its users.
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However, heated razor starter kit market may suffer from some limitations such as inadequate levels of awareness among the general population and these heated razors are costly and are affordable mainly for the high-end premium consumers, which may temporarily act as major restraints to the growth of the market over the forecast period.
This report currently states that there is only one key player by the brand name of Gillette that is owned by Procter & Gamble Company (PG) which is operating in the global heated razor starter kit market, as it is a new product that has been launched containing unique features. The outlining enfolds key information of the company which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global heated razor starter kit market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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