The metrosexual clean-shaven look has given way to the rugged, masculine, and bearded look of the 21st century. A beard is one of the most prominent symbols denoting a man’s personality and the latest trend seems to be favoring its growth.
The global shavers market is projected to grow at a significant rate as an increasing number of men and women seek out shaving products to maintain their routine hygiene or to attract eyeballs. The global shavers market can be segmented into electric and traditional shavers and are sold in supermarkets, ecommerce portals or through other distribution channels.
Persistence Market Research has taken an in-depth look at the global shavers market in its upcoming report titled ‘Shavers Market: Global Industry Analysis 2012–2016 & Forecast 2017–2025’. The global shavers market is expected to grow to a value of approx. US$ 32 billion and record a modest CAGR of 4.3% for the period 2017-2025.
Region – APAC the Future of the Global Shavers Market
The APAC shavers market is predicted to be worth more than US$ 12 billion by the end of the forecast period. Within APAC, India is the country to look out for as the world’s second largest nation has a relatively younger population when compared to China.
Nonetheless, Europe has a greater revenue share primarily because customers on this continent are affluent and more likely to purchase electronic shavers as opposed to traditional shavers that are preferred in emerging economies in APAC and MEA.
Product Type – High Growth Estimated in the Electric Shavers Market
The electric shavers market is anticipated to witness a higher CAGR of 4.5% over the eight-year forecast period in comparison to non-electric shavers. Electric trimmers and clippers are particularly popular amongst both men and women and had a revenue share of 44% in 2016.
End User – Men Largest Consumers of Shavers in the Shavers Market
It is not an even split between men and women in the global shavers market as the former have a market value share of over 3/5th to the latters’ 2/5th. Beards are back in vogue now and have replaced the clean-shaven look as the ‘fashion trend’ to follow.
This should fuel the demand for both electric and non-electric shavers in the global shavers market.
The other channels segment has a market share of more than 50% and is unlikely to ceded this position anytime soon in the global shavers market. This can be primarily attributed to the booming demand for shavers in emerging economies.
The online segment is estimated to have the minimal growth rate during this period.
The companies profiled in the global shavers market report are Panasonic Corporation, Société BIC SA, The Procter & Gamble Company, Koninklijke Philips N.V., Edgewell Personal Care, Conair Corporation, Remington Products Co. LLC, Helen of Troy Limited, Harry’s Inc., Dollar Shave Club, The Eltron Company, Wahl Clipper Corporation, Super-Max Limited, Andis Company, Ningbo Kaili Holding Group Co., Kai Corporation, Parker Safety Razor, Dorco USA, Mers Solutions Ltd., and Havells India Limited.
Shaver manufacturers are entering into agreements with online retailers to expand their customer base by delivering premium shavers at a reasonable price by eliminating the middlemen. This strategy is supported by aggressive global expansion by opening physical stores and ecommerce websites dedicated to emerging economies.
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Companies are also trying to cater to female customers by launching dedicated female shavers to meet the need of all-purpose shavers, mainly due to the desire for bikini grooming and female face shaving observed worldwide. In addition, the greater acceptance of premium priced shavers is driving consumers towards new and innovative shavers available in the global shavers market, maximizing revenue potential.
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