Shaver is basically categorized as a razor that is used to remove the hair without any pain. They can be classified into cartridge, disposable, and electric, electric shaves include epilators and trimmers which are more in demand due to their advanced and easy to use features. Moreover, shavers are affordable and are durable in nature. Shaver's can also be inferior-quality razors and blades which are produced by small manufacturers. Shavers are safe for all types of skin and are reusable hence they save lots of the spending. Blades used in the cartridge are rust-proof and hence do not cause any skin infections, therefore they are safe. They are popular among both men as well as women due to a growing sense of fashion among the population.
The global shavers market is estimated to account for around US$ 25.4 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 8% during the forecast period (2019-2027)
A growing sense of fashion coupled with the rising popularity of grooming products is primarily fueling the market growth of Shaver. The rising population of metrosexual men is expected to foster the market growth of shavers. According to the Coherent Market Insights analysis, the male toiletries market in the U.S. is growing at approximately 6% per year, in which, razors and blades are witnessing the highest growth. Moreover, sales of grooming products in Asia is growing at a faster rate than that of personal care products in the region.
Untapped rural markets in emerging countries are expected to create lucrative growth opportunities in the years to come. Many consumers in rural areas of developing countries such as India opt for cheap quality safety razors and blades produced by small regional vendors in the unorganized sector. According to the Coherent Market Insights analysis, over two-third of the population in India lives in rural areas, which presents significant growth opportunities for the organized sector.
The trend of sporting beard among men as visible symbols of a man’s personality is expected to hinder the market growth. There has been a growing trend of sporting a beard among, which has adversely affected the shaver market in the recent few years. According to a survey by USA TODAY Sports of photo day portraits of players from five randomly selected baseball clubs in the U.S. in 2015, approximately one in two players sported some facial hair.
On the basis of the product type, the non-electric segment dominated the global shavers market in 2018 with a 77.5% of market share in terms of value, followed by electric.
Growing demand for multi-blade razors with lubricant stripes is expected to foster market growth over the forecast period. For instance, in November 2015, Gillette launched new Fusion ProShield with lubrication before and after the blades to shield against irritation during every shave – no matter how many shave strokes a person takes. Hence, this is expected to fuel the market growth of the shavers.
Many manufacturers are adopting a smart strategy for enhancing the distribution channel of products in order to reach the targeted customer is expected to accelerate market growth. For instance, in April 2019, Digital direct-to-consumer (DTC) razor brand Harry's is moving into the offline retail space, striking a deal with Boots to sell its products sold in 300 UK stores. Therefore, increasing adoption of such a strategy for strengthening the distribution channel will favor the market growth.
Key players operating in global shavers market include 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
Few Recent Developments
The Procter & Gamble Company
By Product Segment
By Distribution Channel