PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682817
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682817
The global shavers market is experiencing significant growth, driven by rapid urbanization, increasing consumer awareness of personal grooming, and rising disposable incomes. In 2024, the market size is estimated at USD 7.3 billion and is projected to reach USD 11.7 billion by 2032, advancing at a compound annual growth rate (CAGR) of 6.2% during the forecast period.
The expansion of the middle-class population has elevated the demand for various consumer goods, including high-quality shavers, particularly electric variants. The long-term cost savings associated with these devices further contribute to their growing adoption.
Key Insights
The market is categorized into foil, rotary, and wet/dry shavers. Each segment caters to different consumer preferences, offering varied shaving experiences and functionalities.
Shavers are distributed through hypermarkets/supermarkets, specialty stores, multi-brand stores, and online channels. The proliferation of e-commerce platforms has significantly boosted online sales, providing consumers with convenience and a broader range of options.
The market includes both corded and cordless shavers. Cordless shavers, offering portability and ease of use, are witnessing higher demand, aligning with the modern consumer's preference for convenience.
While males constitute the largest end-user category, there is a growing demand among females, reflecting the expanding market base for shavers.
The adoption of smart shavers, propelled by technological developments and customers' growing preferences for higher efficiency and convenience, is an important trend in the market. Facial features, hair density, and the shaving routine over time can all be evaluated with shavers equipped with artificial intelligence (AI) technology, enabling the device to adapt and optimize performance, offering a customized shaving experience. New electric shavers also incorporate extended battery life, fast charging, water-resistant properties, and adjustable settings for tailored grooming.
The Asia-Pacific region holds the largest market share and is also the fastest-growing region, driven by rapid urbanization, increasing disposable incomes, and a growing emphasis on personal grooming.
The shavers market is fragmented, with numerous players offering a variety of products to cater to diverse consumer needs. This fragmentation is due to the wide range of applications and the availability of shavers with different features and price points.