New Research on Shavers Market Expected to Reach US$70.24 Billion by 2024

Shavers market has shown significant growth over the years owing to the rising need of removing facial hair among the male population. Rising consciousness towards personal grooming and increasing preferences towards shaving products for removing body hair are triggering the growth of the global shavers market.

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The market for shavers market is mainly driven by the consciousness towards personal grooming, increase in female shaving products and transition in focus from facial hair removal to body shaving among the male population. In recent year’s population from both the genders are inclined towards personal grooming. Consumers have shown inclination towards shaving body hair such as chest hair, arm pits, legs and arms.

Increasing acceptance of spending on personal care products among men is also resulting towards the positive impact upon the global shavers market. Further, the rising purchasing power of the consumers residing in the developing countries is another major factor that is fueling the growth of the shavers market. Additionally, increasing endorsements by celebrities for shaving products has also urged the population to opt for shaving products as well. Thus, the impact of this driver is medium at present and the same is expected to be high by the end of the forecast period.

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The shavers market is also driven by the increasing demand for shaving products among the female population. Few factors include rising female workforce, and increasing awareness about hygiene among others. Currently, females have become more conscious about their outlook and removal of body hair is one of the prime concerns among the population. Females are also driven towards removing their body hair due to societal and/or media pressure. Peer pressure is another major factor that has led this population towards shaving.

Global Shavers Market: Future Potential

Further, exposure towards varieties of shaving products for females by way of advertising through television and print media among others is another major factor that has led females towards the purchase of shaving products, which in turn has shown a positive impact on the growth of the shavers market. The impact of this driver is expected to strengthen by the end of the forecast period.

On the other hand, weak female target audience coupled with high prices of electric shavers is restraining the global shavers market in recent years. Females are targeted as a lucrative segment but exposure regarding the usages of shaving products is weak in the developing countries thus restraining the global shavers market. Electric shavers are relatively expensive compared to their non-electric counterparts. Due to this, the penetration rate of such products are very less since majority of the consumers refrain themselves from purchasing such products.

Moreover, adoption of greener alternatives is generating opportunities to the global shavers market. Increasing awareness towards protecting the environment, recyclable razors and electric shavers are preferred and are thus generating opportunities to the global shavers market.

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Global Shavers Market: Segmentation

By different product type the market of global shavers has been segmented into electric shavers and non-electric shavers. Non electric shavers dominated the market over the years due their low price compared to the electric shavers. The market has been further segmented by end use and distribution channel. By end use the global shavers market has been segmented into male and female. Shavers used by male dominated the market in 2015 as it is considered as an essential necessity, although women are also considered as a lucrative target audience for the manufacturers in recent years for the shaving products.

By distribution channel the shavers market has been segmented into health and beauty stores, general merchandising or mass stores, super markets and hyper markets and others. Super Markets and Hyper Markets dominated the global shavers market in 2015. By geography the global shavers has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe dominated the both electric shavers and non-electric shavers. Asia Pacific showed the fastest growth in 2015 for the global shavers market.

The global shavers market can be segmented as follows:-

By Product Type

·         Electric

·         Non-Electric

By End User

·         Male

·         Female

By Distribution Channel

·         Health and Beauty Stores

·         General Merchandising/Mass Stores

·         Super Markets and Hyper Markets

·         Others

By Geography

·         North America

·         Europe

·         Asia Pacific

·         Middle East

·         Africa

·         Latin America

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