Shavers Market is ready to Dazzle worldwide- let’s see how?

 

Shavers

Waxing is one of the most popular procedures for removing hair, although it is more painful and expensive than shaving. Electric shavers, such as epilators and trimmers, are in high demand across the world since they eliminate the need for repeated purchases. Women are increasingly using shavers to shave their legs and armpits. They are long-lasting, simple to use, and inexpensive. Cartridges, disposables, and electrics are the three types. They may be found at supermarkets and hypermarkets, as well as convenience stores and online.

Out of these, the internet channel is one of the fastest-growing channels since it allows manufacturers to contact their targeted consumers while also being more cost-effective than other distribution channels like retail storefronts. In terms of revenue, the Global Shavers market is expected to reach over US$ 51 billion by the end of 2027, with a CAGR of 8% throughout the forecast period (2019-2027).

Market Restraints-

The market is projected to be hampered by low shaver uptake by women in developing nations such as Asia, Africa, and Latin America, who are less concerned about personal grooming than women in industrialised countries. According to a study conducted by Coherent Market Insights, 56.2 percent of 1,000 Japanese women aged 20 to 69 years did not remove body hair. This is projected to limit market expansion.

Electric shavers are uncomfortable on ling hair and can cause razor bumps and acne due to tiny nicks on the skin. The use of shavers is projected to be limited as a result of this. They must also be handled with caution. Over the forecast term, all of these issues are expected to stifle shaver market expansion.

Market Opportunities-

Due to fast urbanisation and rising disposable income in Asia Pacific, Latin America, and Africa, electric shavers offer prospective applications in emerging nations. As a result, they are spending more money on high-end grooming products, which is projected to drive market development in the near future. India's Households: Gross Disposable Income data was recorded as 131,525,002.483 INR million in March 2018, according to CEIC Data. This is an increase over the previous month's figure of 119,566,177.097 INR million.

The increased number of working women is expected to present a considerable potential for shavers Market. Women's labour force participation in India has decreased from 30.4 percent in 1990 to 23.4 percent in 2019, according to Catalyst statistics. In 2018, 57.1 percent of women in the United States were employed, compared to 69.1 percent of all men. Furthermore, in 2019, Australia's female labour force participation rate was 61.1 percent.