Foil Shavers Market expected to propel market growth at a CAGR of over 3% through 2030

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.

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.

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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.

"Social standards of beauty among men and women and inclination toward convenience and speed are redefining the foil shavers landscape," says an analyst at Persistence Market Research.

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COVID-19 Impact on Market
The COVID-19 pandemic resulted in a supply-demand gap. Complete lockdowns, total shutdown of all industries, and havoc in the industrial space resulted in a dip in production during the pandemic. However, small electronic appliance manufacturers increased their production capacities after lockdowns eased, successfully catering to rising demand for essential appliances across regions.

Demand for essential consumer goods has experienced a steep hike since the 1st quarter of 2020, and is expected to drive the sales of foil shavers going forward. On the hindsight, fear of contamination and total shutdowns have resulted in a surge in the trend of at-home grooming, and consequent increased demand for foil shavers.

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

• Panasonic Corporation
• Wahl Clipper 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
• Andis Company, Inc.
• Other Players (As Requested)

Know More about Report Inclusions
Persistence Market Research published a new market report on the foil shavers market, covering global industry analysis of 2015-2019 and forecasts for 2020 to 2030. This research report provides compelling insights on the basis of price range, end user, and sales channel, across all major regions.

The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.

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This release was published on openPR.