The use of alternatives to blades in wet shavers is anticipated to open up the new avenue for Shavers Market

Shavers Market

Shavers are used for hair removal from various body parts like face, legs, underarms etc. Wet shavers generally use blade pivoting system with protective shaving guard and moisturizing lubricants. Dry shavers use rotary system without the need of water or gel. Shavers are available in both electric and manual options in various price ranges.

The global Shavers Market is estimated to be valued at US$ 29,673.1 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growth in male grooming trend is one of the major driver for the shavers market globally. Increasing awareness regarding personal hygiene and rising disposable income is shifting consumer preference towards better shaving solutions driving the market growth. Changing lifestyle patterns has made personal grooming an important part of daily routine. On the other hand, time constraint has increased the popularity of electric shavers as they are easier and faster to use compared to manual shavers. Technological advancements in shavers like pivoting blade systems, additional accessories and battery operated variants allowing cordless usage have expanded market reach.

Segment Analysis

The shaver market is segmented on the basis of product type which includes foil shavers, rotary shavers, and wet/dry shavers. The wet/dry shavers segment currently dominates the market, accounting for over 35% share, as these shavers can be used both with shaving gel/cream as well as water, providing convenience to users.

PEST Analysis

Political: There are no significant political risks affecting the shaver market.
Economic: The shaver market is experiencing strong growth due to rising disposable incomes in developing nations leading to higher spending on personal grooming products.
Social: Growing social acceptance of neatly trimmed facial hair among men is driving the demand for shavers. Also, an increasing number of women are using shavers for hair removal.
Technological: Major players are introducing shavers with advanced features such as flex/pivoting heads, lithium-ion batteries providing longer runtime, travel locks, and waterproofing.

Key Takeaways

The Global Shavers Market Demand is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing focus on personal grooming and hygiene. The market size for 2023 is US$ 29,673.1 Mn.

Regional analysis: Asia Pacific dominates the global shavers market, accounting for around 35% share. China represents the fastest growing market due to rising living standards and growing youth population. North America is another major region led by the US.

Key players: R&D. Koninklijke Philips N.V., Panasonic Corporation, and Procter & Gamble are among the major participants. Philips has led the market for decades with its flagship product, the Norelco brand. Panasonic also has a strong presence backed by its Nanotech blade technology providing a close, comfortable shave. Procter & Gamble competes through its Braun brand offering premium shavers.

Get more insights on this topic:

https://www.pressreleasebulletin.com/shavers-market-growth-market-size-share-analysis/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more