Electric Shaver Market Industry Analysis Report | 2024-2030

The Shavers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Shavers Global Market Report 2024, The shavers market size has grown strongly in recent years. It will grow from $26.83 billion in 2023 to $28.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to grooming and personal hygiene, growth in men’s grooming products, razor blade and electric shaver demand, fashion and grooming trends, aging population..

The shavers market size is expected to see strong growth in the next few years. It will grow to $37.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to sustainable and eco-friendly shaver materials, women’s grooming and inclusivity, ai-powered smart shavers, body hair grooming trends, personalized and customizable shaver settings, global expansion of grooming products.. Major trends in the forecast period include ai-powered skin analysis for shaver settings, shaver subscription and delivery services, 3d-printed and recyclable shaver materials, shavers with uv sterilization and disinfection, waterproof and shower-safe shavers, sustainable packaging and refilling options..

The increasing preference for grooming products significantly contributed to the growth of the shaver’s market. Grooming products refer to the products such as hair styling, beard grooming, and related shaving products. People are investing in grooming products to improve physical appearance, gain confidence, and have a competitive edge in terms of both career and personal growth. For instance, in November 2022, Gillette, a US-based brand which manufactures shaving systems and cartridges as well as Oral B toothbrushes, reported an 8.2% increase in quarterly income from operations to 6.2 billion rupees. Therefore, increasing preference for grooming products is expected to contribute to the growth of the shavers market.

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The shavers market covered in this report is segmented –

1) By Product: Electric Shavers, Non-electric Shavers

2) By Demographics: Men, Women

3) By Sales Channel: Hypermarkets or Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, Other Sales Channels

Product innovations are a key trend gaining popularity in the shavers market. Key players operating in the shaving market are focusing on developing new products to strengthen their position in the market. For instance, in January 2021 Xiaomi Youpin, a manufacturer launched a new MIJIA product first shaver to use a high-end direct-drive brushless motor. It is the new MIJIA Electric Shaver S700, which features ceramic blades and has a high-end direct-drive brushless motor that helps in increasing the service life of the product and is also highly resistant to corrosion, and is skin-friendly and provides a more efficient shaving experience to the user.

The shavers market report table of contents includes: