Shavers Market is ready to reach around US$ 51 Billion by 2027 with 8% CAGR

 

Shavers Market

Waxing is one of the most popular hair removal methods, but it is more painful and expensive than shaving. Electric shavers, such as epilators and trimmers, are gaining popularity around the world because they eliminate the need for recurring purchases. Shavers are also becoming more popular among women for shaving their legs and armpits. They are long-lasting, simple to use, and reasonably priced.

Shavers are classified into three types: cartridge, disposable, and electric. They can be found in supermarkets and hypermarkets, convenience stores, and online.  Out of which, the online channel is one of the fastest-growing channels as it helps the manufacturer to reach their product to the targeted consumer and are also affordable as compared to other distribution channels such as retails stores.

The global Shavers Market is projected to reach around US$ 51 billion by the end of 2027, in terms of revenue, growing at CAGR of 8% during the forecast period (2019-2027).

Technological advancements, such as the introduction of electric shavers, are expected to drive market growth over the forecast period. For example, Manchester United and Remington collaborated in September 2019 to launch a co-branded product line. The exclusive collection includes grooming and hair styling products that feature club colours and the iconic Manchester United crest. Electric shavers, beard trimmers, hairdryers, clippers, and styles are all included.

The increasing use of celebrity endorsements by shaver manufacturers to promote their products through electronic and print media is expected to boost market growth. Many well-known celebrities, such as actors and athletes, are actively promoting various brands of shavers, increasing the visibility and acceptability of shaver products among consumers.  Hence, growing celebrity endorsement is projected to accelerate market growth.

Women in developing countries such as Asia, Africa, and Latin America are less concerned about personal grooming than women in developed countries, which is expected to stymie market growth. Electric shavers are painful on the hair and can cause small nicks on the skin, which can lead to razor bumps and acne. This is expected to limit the use of shavers. They must also be handled with caution. All of these factors are expected to impede shaver market growth over the forecast period.

The rising popularity of body hair removal, such as shaving their legs, armpits, and chest, is expected to fuel demand for shavers, propelling market growth. Shaving is less expensive and less painful than waxing, which is driving demand for electric and non-electric shavers because they are more comfortable for removing hair from private body parts. This is expected to help the market grow.  Because of rapid urbanisation and rising disposable income in Asia Pacific, Latin America, and Africa, electric shavers have potential opportunities in developing countries. This is increasing their spending on high-end grooming products, which will drive market growth in the near future.

Growing demand for female razors due to an increasing population of working women around the world is expected to boost shaver market growth. In February 2015, Energizer Holdings, Inc. introduced the Schick Hydro Silk Trimstyle, a hybrid razor for women that is part razor and part bikini trimmer. As a result, the increasing availability of female razors is expected to accelerate market growth.

Panasonic Corporation, Conair Corporation, Koninklijke Philips N.V., The Procter & Gamble Company, Energizer Holdings, Inc., Spectrum Brands Holdings, Inc., Wahl, Clipper Corporation, Super-Max Limited, and SOCIÉTÉ BIC SA are key players in the global Shavers market.