Shavers Market

The Shavers Market is Growing in Trends by Rising Disposable Income

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The shavers market offers a wide range of electric and non-electric shavers that provide a close, clean, and comfortable shave. Shavers have become an essential grooming product for both men and women due to their convenience, precision, and affordability. The rising working professional population along with increasing disposable income has boosted the demand for shavers across the globe.

The Global Shavers Market is estimated to be valued at US$ 3.50 billion in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024

Key Takeaways

Key players operating in the shavers market are Procter & Gamble, Philips, Panasonic, Harry’s, Edgewell Personal Care. Procter & Gamble leads the global shavers market with its Gillette brand providing high-quality razors and blade refills. Rapid urbanization and rising working women population has increased the demand for shavers in developing countries.

Growing demand in the market

The increasing focus on personal grooming and hygiene among both men and women has propelled the Shavers Market Growth. The fast-paced lifestyle has led to the growing popularity of electric shavers that offer a quick and hassle-free shave. Additionally, the rising awareness about skincare through social media marketing has encouraged people to shift from using blade razors to shavers.

Global expansion of the market

The shavers market is witnessing lucrative opportunities in developing regions owing to rising disposable incomes. Leading companies are expanding to untapped markets in South America, Middle East, and Asia Pacific through online platforms to tap the rising demand. Countries like China, India, Brazil are expected to contribute significantly to the global shavers market revenue during the forecast period.

Market Key Trends

One of the key trends gaining prominence in the shavers market is the increasing Shavers Market Challenges And Opportunities with advanced features. Manufacturers are focusing on integrating problem-solving technologies like flexible pivot heads, lithium-ion batteries with long runtime, waterproof bodies, skin-friendly blades, and travel locks in shavers. This is appealing to customers looking for high performance and convenience.

Porter’s Analysis

Threat of new entrants: Low set up and technology costs allow new firms to easily enter the shavers market. However, established brands have strong brand recognition and customer loyalty.

Bargaining power of buyers: Buyers have significant bargaining power in the shavers market due to the availability of substitute products and undifferentiated shavers offerings. Buyers can negotiate on price easily.

Bargaining power of suppliers: Suppliers of shavers parts and components face moderate bargaining power from buyers. Suppliers of specialized components have some pricing power.

Threat of new substitutes: Shavers face threat from substitutes like hair removal creams and waxing. However, their usage is limited for body parts.

Competitive rivalry: The shavers market is highly competitive with top brands continuously investing in innovation and marketing.

The value share of the shavers market is concentrated in North America and Europe due to high per capita income and demand for personal grooming products. The United States alone accounts for over 30% of the global shavers market value owing to frequent product launches catering to consumer needs.

The Asia Pacific region is expected to be the fastest growing market for shavers during the forecast period. Factors such as rising disposable incomes, growth of retail channels, and increasing focus on personal aesthetics will drive shavers market growth in the region, especially in India and China.

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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

About Author – Alice Mutum
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Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn