SHAVERS MARKET ANALYSIS
The global shavers market is estimated to be valued at USD 3.50 Bn in 2024 and is expected to reach USD 5.55 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.
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The shavers market is expected to witness positive growth over the forecast period owing to rising male grooming trends and increasing demand for shavers suitable for various beard styles. Growing social media influence has been promoting different facial hair styles among younger consumers, driving the need for versatile shavers and trimmers. Furthermore, rising disposable incomes in developing regions is increasing the consumer ability to spend of premium electric and battery-operated shavers. Shavers that cater to the male population offering various length settings, precision trimming, and waterproof capabilities have gained popularity.
Focus on Personal Grooming Habits
The rising focus on personal grooming and hygiene among both men and women across the globe has been a major driver for the shavers market in recent years. There is an increasing awareness about the importance of maintaining a well-groomed appearance and look presentable at all times. More people are paying attention to keeping their facial hair neatly trimmed to style it as per the latest trends. Shavers help achieve that perfect stubble or clean-shaven look with ease. Beauty standards advocated by celebrities and social media influencers have made facial hair grooming a routine for many. With busy lifestyles and tight schedules, people want solutions that can help save time in their daily grooming habits. Wet shavers whether electric or manual provide an effortless way to neatly trim facial hair within minutes. The variety of shavers suited for different hair textures, skin types, and styles has encouraged people to experiment more with their looks. Advanced features like waterproof capabilities, Li-ion batteries, and quick charging have made shavers much more convenient to use on-the-go. Trimmer attachments allow achieving different lengths precisely. Wet shavers with LED displays provide visibility and control while shaving. All of this has brought wet shavers to the forefront as a daily grooming essential for an increasing number of individuals.
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Rise of Male Grooming Industry
The male grooming industry has witnessed tremendous growth over the past decade driven by changing attitudes towards masculinity. The stigma around men caring for personal appearance and hygiene has reduced significantly. More men are incorporating multi-step skincare routines into their self-care habits just like women. Whereas earlier male grooming was limited to trimming facial stubble, it now incorporates various categories including hair styling, skincare, deodorants, fragrances, and others.
With the advent of social media, the visibility of male celebrities and influencers stylizing their looks through well-groomed hair and facial hair has proliferated. What was once considered vain for men is now portrayed as taking pride in oneself. Beauty product companies too have recognized this shift and cater their marketing campaigns towards the male audience. As caring for skin health and appearance becomes normalized among men, their spending on beauty products is also on the rise. Shavers have emerged as one of the key beauty essentials for men, and they are now considered as important as trimming nails or brushing teeth.
Key Takeaways from Analyst:
The global shavers market is expected to witness steady growth over the next five years. Traditional wet shaving is being gradually replaced by dry shaving methods like electric shavers and beard trimmers. This shift is mainly driven by the convenience offered by dry shavers.
Younger consumers in particular prefer the hassle-free usage of electric razors compared to disposable blades. High disposable incomes especially in developed nations also allow consumers to opt for more premium electric shavers.
North America represents the largest base for shavers currently. However, the Asia Pacific region is estimated to witness the fastest growth in the coming years driven by a vast population, growing income levels and changing grooming habits.
Market Challenges: High price of advanced shavers
The high price of advanced shavers is significantly restraining the growth of the global shavers market. With the introduction of modern shavers equipped with latest technologies like wet/dry usage, pivoting heads, LED displays and many more, their prices have also increased substantially. Most of the premium electric shavers from top brands are available in the price range of $100-$300. This puts them out of reach for price sensitive consumers in developing nations and those on lower income groups even in developed countries. Secondly, factors like economic slowdown during Covid pandemic and rising inflation across the world have further squeezed household budgets. People are becoming value conscious and reluctant to spend large sums on shavers when basic models do the job adequately at much lower costs. Affordability is a major concern especially in the current scenario where disposable incomes have come under pressure. Many users prefer to stick to cheaper disposable razors rather than shelling out a few hundred dollars on an expensive electric shaver upfront.
Market Opportunities: Emergence of green products
The emergence of green products provides significant opportunity for growth in the global shavers market. Consumers are increasingly concerned about sustainability and the environmental impact of their purchases. They want options that are made from renewable, recycled, and recyclable materials that reduce waste. A recent survey by the United Nations Environment Programme suggests over 70% of global consumers want companies to provide more environmentally friendly products. Shavers brands that embrace this consumer demand for sustainable solutions will be well positioned for future market leadership. Transitioning blade production and packaging to use renewable plastics, recycled metals, and bio-based polymers can capture this consumer interest while reducing environmental footprint. Marketing these “green” shavers as sustainable, planet-friendly choices will appeal greatly to younger generations in particular. Several companies have already begun implementing improvements in product design and materials sourcing to respond to this demand for eco-friendly offerings.
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Insights by Product Type: Convenience and affordability drive the growth of non-electric shavers
In terms of product type, the non-electric segment is expected to contribute 77.5% share of the market in 2024, owing to its convenience and affordability. Non-electric shavers do not require charging and can be used directly after purchase. This makes these shavers convenient to use while traveling or in situations where an electric outlet may not be available. Additionally, non-electric shavers tend to be more affordable than electric shavers. Their simple mechanism without a motor brings down manufacturing costs. This lower price point allows non-electric shavers to attract a wide consumer base. Features like ease of use and lightweight construction further contribute to their popularity. Non-electric shavers require minimal learning curve and can be operated with one hand. Their portability makes them suitable for use anywhere and anytime. Consumers appreciate not having to deal with charging cables or remember to charge devices regularly. Overall, consumers continue to choose non-electric shavers as they meet basic shaving needs in an affordable and hassle-free manner.
Insights by End User: Ever evolving male grooming trends promote electric shavers
In terms of end user, the male consumer segment contributes the 61.6% share in 2024, due to evolving notions of male grooming and hygiene. Traditionally, wet shaving was the predominant method for men. However, increased awareness about skin care and a busier lifestyle are encouraging adoption of electric shavers. Electric shavers provide a close, smooth shave on par with blade razors while being less time consuming. Men are able to shave more often without irritation. Leading brands promote electric shavers as a hassle-free way for males to look well-groomed at all times. New innovations like skin-friendly blades, waterproof capabilities and intelligent sensors make the shaving experience more convenient. Popular culture has also glamorized males who pay attention to grooming. Social media influencers endorse electric shavers for their efficiency. Rising disposable incomes allow men to invest in such personal care electrical appliances as well. With greater emphasis on appearances, electric shavers fit well into modern lifestyles for consistent, convenient shaving.
Insights by Distribution Channel: Offline channels maintain strong foothold in shaver sales
In terms of distribution channel, the offline segment is expected to contribute 71.3% share in 2024, due to the ability to experience products first-hand. While online shopping is continually gaining traction, especially after the pandemic, there are certain advantages of offline retailers for shaving appliances. Consumers prefer touching, feeling, and inspecting shavers in person before purchasing since it is a personal care product category. This hands-on experience helps in comparing textures, weights and designs accurately. Shop assistants play an important role in demoing products and addressing shopper queries. Their expertise guides buyers in selecting the right shaver specifications for their needs. Offline stores showcase a wide assortment of products from varied brands under one roof, facilitating easier choices. Impulse buys are higher as consumers make instant decisions. Brand promotions, discounts and loyalty schemes run frequently in stores to boost footfalls. Established brick-and-mortar chains command consumer trust given their presence over time. Overall, the tangible shopping environment along with value-added services keep offline as the primary go-to avenue for evaluating and buying shavers.
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North America has established itself as the dominant region in the global shavers market over the past decade. The region is expected to account for a market share of 39.1% in 2024. With the presence of leading global brands such as Philips, Braun, and Gillette, the region enjoys strong brand loyalty among consumers. These companies have been marketing their products aggressively through various online and offline channels to boost sales. In addition, private label brands sold by major retailers like Walmart and Target have also captured a fair share of the market. Another key factor driving the North American market is product innovation. Brands regularly launch new variants with advanced features like skin detecting technologies, waterproof capabilities, and longer battery life. This keeps consumers interested in upgrading their shavers. Moreover, online retail has made a wide variety of shavers easily accessible to consumers. With one-click shopping and subscription options, consumers find it convenient to purchase shavers online. When it comes to imports and exports, the U.S. maintains a slight trade surplus in shavers helped by domestic manufacturing of some premium brands.
The Asia Pacific region has emerged as the fastest growing market for shavers globally over the past five years. Countries like India and China account for majority of the growth driven by changing social and lifestyle trends. With increasing disposable incomes, more men in tier-2 and tier-3 cities are adopting shavers replacing traditional wet shaving methods. E-commerce has played a vital role in expanding the reach of shaver brands in these markets. Asian manufacturers export a vast majority of shavers produced in the region. Countries like China, Japan, and South Korea have a strong manufacturing base and enjoy trade surpluses. At the same time, multinational brands are also focusing on these lucrative growth markets by setting up local operations, collaborating with domestic partners, or acquiring regional brands. Overall, the Asia Pacific shavers market remains very price-sensitive compared to mature markets, which makes it an attractive manufacturing destination.
Shavers Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 3.50 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 6.8% | 2031 Value Projection: | US$ 5.55 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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, SOCIÉTÉ BIC SA, ELEHOT STORE, HATTEKER, Havells India Ltd., SweetLF, VGR shaver, Razorline Manufacturing, Pearlshaving, Supreme Shavers India Pvt. Ltd., Shaver Manufacturing, and Kai India |
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| Restraints & Challenges: |
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*Definition: The global shavers market consists of companies that manufacture and sell razors and shaving systems for male and female use on a global scale. This includes wet and dry electric shavers, foil shavers, and cartridge and disposable razors. The market serves consumers across different age groups and cultures worldwide, offering innovative shaving technologies, and solutions to meet various shaving preferences and skin types.
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About Author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
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