by Shavers are cutting devices typically used to remove or trim facial hair and body hair. Electric shavers automatically cut hair by rotation or reciprocating blades or micro cutters. Shavers are used for shaving purposes by both men as well as women. Shavers come in a variety of forms such as rotary shavers, foil shavers, and trimmer. In addition, shavers are increasingly becoming multipurpose devices capable of wet and dry shaving, trimming, edging and precision styling. The global shavers market is dominated by electric shavers owing to their ease of use. Major manufacturers are focusing on developing shavers with advanced battery technologies, multiple blade systems and precision trimmers for personal grooming.
The global shavers market is estimated to be valued at US$ 29673.1 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing demand of electric shavers: The demand of electric shavers is growing at a significant rate owing to factors such as their ease of use, mobility and convenience. With growing awareness about personal grooming, consumers are increasingly adopting electric shavers for close and comfortable shave. This provides an opportunity for manufacturers to develop more advanced features in electric shavers such as battery life, multi-blade system etc.
Increasing spending on personal grooming: With growing disposable income and changing lifestyles globally, consumers are willing to spend more on personal grooming products such as shavers. Personal grooming is an important aspect of corporate grooming or attending social gatherings which in turn is promoting sales of shavers. Manufacturers can strengthen their market position by promoting grooming as an essential part of lifestyle.
Segment Analysis
The global shavers market is dominated by the electronic segment which holds around 70% market share due to rise in demand for convenience. Within the electronic segment, the rotary shavers sub-segment is the most dominating owing to the smooth shaving experience offered and ability to handle different beard types and textures.
PEST Analysis
Political: The regulations around product quality and standards ensure better consumer experience in the shavers market. Economic: Rise in disposable incomes is driving demand for premium shavers across regions. Social: Growing focus on personal grooming and style statement is propelling market growth. Technological: Integration of new technologies like lithium ion batteries and precision trimming is enhancing product effectiveness.
Key Takeaways
The Global Shavers Market Growth is expected to witness high over the forecast period of 2023 to 2030 driven by growing focus on personal grooming. The electronic shavers dominated with around 70% share owing to convenience offered. Regionally, North America held the largest share due to growing male grooming trend.
Regional analysis: North America led the shavers market accounting for over 35% share due to rising male grooming awareness in countries like US and Canada. Asia Pacific registered fastest growth on back of large population, increasing disposable incomes and urbanization in India and China.
Key players operating in the shavers market are Fox-IT (Part of NCC Group), Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc. The established players are focusing on new product launches and expanding regional presence to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
