Anticipated Growth in Revenue:
Electric Shavers Market was valued USD 17.30 Bn in 2023 and is expected to reach USD 23.26 Bn by 2030, at a CAGR of 4.32% during a forecast period.
Electric Shavers Market Overview:
The global Electric Shavers market was valued at USD 17.30 billion in 2023 and is projected to reach USD 23.26 billion by 2030, growing at a CAGR of 4.32% during the forecast period. The market growth is driven by rising fashion trends, increasing beauty consciousness among men and women, and the growing demand for technologically advanced and quality electric shavers. The market also benefits from the increasing economy, population growth, and rise in disposable income.
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Electric Shavers Market Scope:
This report provides a comprehensive analysis of the global electric shavers market, covering market dynamics, segmentation, regional analysis, and the impact of COVID-19. It includes detailed insights into market drivers, restraints, opportunities, and trends over the forecast period from 2024 to 2030. The report also offers a competitive analysis of key players, their strategies, and market positioning, along with PEST, PORTER’s, and SWOT analyses to help stakeholders prioritize their efforts and investments.
Electric Shavers Market Drivers:
Several factors are driving the growth of the electric shavers market:
- Rising Fashion Trends and Beauty Consciousness: Increased awareness of personal appearance among both men and women has led to a higher demand for electric shavers.
- Technological Advancements: The availability of electric shavers with turbo and multi-blade precision units that offer faster and cleaner shaves through dense hair is boosting market demand.
- Economic Growth and Disposable Income: An improving global economy, growing population, and rising disposable incomes are contributing to the increased demand for electric shavers.
- Salon and Parlor Usage: The widespread use of electric shavers in salons and parlors further drives market growth.
Electric Shavers Market Segmentation:
by Product
Foil Shavers
Rotary Shavers
Wet/Dry Shavers
Accessories
Clippers
by Distribution Channel
Health and Beauty Stores
General Merchandising/Mass Stores
Super Markets and Hyper Markets
Others
by End User
Male
Female
Electric Shavers Market Key Players: The key players are
1. Conair Corporation
2. Helen of Troy Limited
3. Philips Electronics N.V.
4. The Procter & Gamble Company
5. Braun GmbH.
6. Remington Products Company
7. Eltron Company
8. Izumi Products Company
9. BaByliss
10.Koninklijke
11.Panasonic Corporation
12.The Gillette Company
13.Spectrum Brands Holdings Inc.
14.Wahl Clipper Corporation
15.SHAVERS ELECTRIC LLC
16.Havells India Ltd.
17.Clean Shave
18.Bic
19.MANGROOMER
20.Andis Company
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Electric Shavers Market Regional Analysis:
The market is analyzed across five major regions: North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America.
- Asia Pacific: This region is expected to witness significant growth due to increasing beauty consciousness, rising disposable income, and large populations in countries like China and India. The region offers massive market potential for electric shavers.
- North America and Europe: These regions are driven by product innovations related to style, long life, low maintenance cost, and ease of use. The high awareness and adoption rates in these regions support market growth.
- MEA and Latin America: These regions are also expected to contribute to market growth, albeit at a slower pace compared to Asia Pacific.
COVID-19 Impact Analysis on Electric Shavers Market:
The COVID-19 pandemic has had varying impacts on the electric shavers market across different regions and segments. The lockdowns implemented to curb the spread of the virus disrupted supply chains and affected market dynamics. However, the report analyzes both the short-term and long-term impacts, providing insights that help decision-makers formulate strategies for recovery and future growth. The pandemic has led to a greater emphasis on personal grooming and hygiene, which has positively influenced the demand for electric shavers.
Key Questions Answered in the Electric Shavers Market Report are:
- What will be the CAGR of the Electric Shavers market during the forecast period?
- Which segment emerged as the leading segment in the Electric Shavers market?
- Which are the prominent players in the Electric Shavers market?
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