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Innovation-Based Discernment To Drive The Foil Shavers Market

Innovation-Based Discernment To Drive The Foil Shavers Market

Personal appearance has taken paramount importance in the lives of consumers. Proper grooming and professional appearance have become important attributes to gain respect at the workplace. The way people carry themselves creates an impression on co-workers and the management. The pressure and interest of looking good is equally important to both, men and women. Variations offered by trimmers and shavers have taken up the onus to drive the foil shavers market, globally. Convenience and comfort are the two pillars supporting rising demand for foil shavers. Electric shavers are highly preferred due to their convenience quotient. No lengthy preparation, no abrasion, cuts or irritation, and easy cleaning have augmented the sales of electric shavers in recent times. On the back of these factors, global sales of foil shavers are expected to top US$ 5.4 Bn in 2030. According to the report by Persistence Market Research, the foil shavers market is estimated to register a steady CAGR of more than 3% during the forecast period of 2020-2030.

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Key Takeaways from Foil Shavers Market Study
• The market represents a moderately consolidated competitive landscape, where a majority of key players maintain their strategic focus on pricing strategy, brand identity, product strategy, digital advertising of products, and remodelling the supply chain network.
• Persistence Market Research identifies North America as the largest market for foil shavers, with a share of 27% through 2030, followed by Europe, attributable to the fact that, customers across these regions have higher spending index, and give prime importance to convenience and comfort.
• Men and women are equally giving focus to physical appearance, and taking practical measures to seek good looks.
• By end user, men account for a larger share as compared to women, primarily because of the growing trend of men’s grooming.
• By price range, at more than 40% share, demand for foil shavers priced below US$ 45 dominates the market. However, technological advancements are set to drive demand for foil shavers ranging from US$ 45 – US$ 85.
• After initial logistic hiccups due to the onset of COVID-19, demand for essential consumer goods is soaring. A prime reason for increase in sales of foil shavers is at-home grooming due to lockdowns and fear of contamination.
• The market in Germany is set to witness a CAGR of more than 5% through 2030.
• Sales of foil shaves across Japan are slated to expand, in value, at a CAGR of over 7% from 2020 to 2030.

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Key Market Players
The report underlines groundbreaking insights into the competitive scenario of the foil shavers market, along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain include Wahl Clipper Corporation, Panasonic Corporation, Koninklijke Philips N.V., Braun GmbH, Havells India Limited, Carrera (Safilo Group S.p.A), Conair Corporation (Jarden), Gamma+ LLC, Bevel (Walker and Company), Mangroomer, Remington, and Andis Company, Inc., among others.

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