Electric Shavers Market By Type (Foil Shavers, Rotary Shavers), Product (Rechargeable Shaver, Battery Type Shaver), End-User (Male & Female) And Region For 2024-2031

Electric Shavers Market Valuation – 2024-2031

Electric Shavers Market analyzes and gives insights into the numerous aspects that are likely to be present during the forecast period, as well as their effects on market growth. The increase in beauty consciousness among the people is driving the expansion of the electric shavers industry. The market size surpass USD 12.40 Billion valued in 2023 to reach a valuation of around USD 19.60 Billion by 2031.

Electric Shavers Market size is rising at a faster speed with notable growth rates over the last few years, and it is expected that the market will increase significantly in the anticipated time. The rising demand for cost-effective and efficient electric shavers is enabling the market grow at a CAGR of 5.5% from 2024 to 2031.

Electric Shavers MarketDefinition/ Overview

Electric shavers use oscillating or revolving blades behind a metal guard to remove undesirable body hair. The electric shaver is the most convenient method of shaving. Electric shavers are mainly divided into two typesfoil shavers and rotary shavers. A foil electric shaver has two or more cutting blades that vibrate and cut hairs through small pores in the foil. Rotary shavers have a faceplate with rotating blades that collect and cut hair.

Electric shavers are used to remove hair from the chest, abdomen, legs, head, underarms, and other parts of the body. Men typically use an electric shaver to remove facial hair, while women use it to remove hair from their legs and underarms.

Electric shavers enable closer shaves without causing skin irritation, and they are more enjoyable and convenient to use. Using electric shavers is also cost-effective in the long run. Electric shavers are used as grooming equipment by men. Shaving is a regular ritual for many professionals, therefore electric shavers save them time and money when compared to older methods of shaving. Electric shavers are becoming increasingly popular among men and women seeking to improve their appearance due to changing fashion trends.

How the Technological Advancements and Innovation are Growing for the Electric Shavers Market?

The electric shavers industry is significantly driven by ongoing technological developments and improvements. Manufacturers spend in research and development to improve electric shavers’ performance, efficiency, and user experience.

Electric shavers are increasingly using precision sensors and smart technologies. This incorporates Bluetooth connectivity, mobile app compatibility, and auto-adjustment settings for skin type and hair thickness. Consumers seeking ease and a better grooming experience are increasingly drawn to advanced cutting elements, ergonomic designs, and self-cleaning features. Technological advances not only differentiate items in a competitive market, but also increase consumer interest and acceptance, resulting in significant market growth.

The global electric shaver market is adapting to changes in customer tastes and grooming routines. Electric shavers offer a quick and effective alternative to traditional razors, meeting the growing need for time-saving solutions in busy lifestyles. Electric shavers, which can be used for both dry and wet shaving, are becoming increasingly popular among consumers due to their ease of use, quick results, and adaptability.

Furthermore, shifting societal expectations around personal grooming and appearance contribute to the increasing acceptance and use of electric shavers. The need for well-groomed facial hair, combined with the impact of grooming trends in popular culture, has resulted in a growing demand for electric shavers among men and, increasingly, women. Manufacturers are adjusting their product offers to satisfy these evolving demands, which lead to the sustained growth of the market.

What are the Key Challenges Faced by the Electric Shaver Market?

Intense market competition and saturation in the electric shavers industry is characterized by fierce competition between major companies and a slew of new entrants. The market has been saturated with comparable products, making it difficult for producers to differentiate their offerings. The market for electric shavers is competitive, with options ranging from entry-level to premium. Brand recognition and product innovation are key to success. Manufacturers strive to differentiate themselves in a competitive market by offering distinctive selling points such as superior technology, design aesthetics, or sustainability elements. Maintaining market share and profit margins is a significant problem that requires ongoing innovation and effective marketing initiatives.

Intense market competition and saturation in the electric shavers industry is characterized by fierce competition between major companies and a slew of new entrants. The market has been saturated with comparable products, making it difficult for producers to differentiate their offerings. The market for electric shavers is competitive, with options ranging from entry-level to premium. Brand recognition and product innovation are key to success. Manufacturers try to distinguish themselves in a competitive market by offering distinctive selling points such as superior technology, design aesthetics, or sustainability elements. Maintaining market share and profit margins is a significant problem that requires ongoing innovation and effective marketing initiatives.

Category-Wise Acumens

How Demand for Foil Shavers Affect Electric Shavers Market?

The electric shaver market is seeing an increase in demand for foil shavers due to changing customer preferences and grooming practices. Foil shavers contain a thin, perforated foil covering the blades, allowing for a smooth and precise shave. This type of electric shaver is gaining favor among consumers who value a clean and precise shaving experience.

Foil Shaver’s are ideal for those with sensitive skin due to their foil design, which minimizes blade contact with the skin and reduces discomfort. Foil shavers are becoming increasingly popular due to their ability to easily capture and trim longer hairs, making them a preferred option for consumers who may not shave daily.

Manufacturers in the global Electric Shavers Market are responding to this trend by offering innovative features and advancements to foil shaver designs. Advanced foil technologies, such as multidimensional cutting components and flexible foils that conform to facial contours, contribute to a more personalized shaving experience. As consumers seek personalized grooming solutions, the demand for foil shavers highlights the importance of product diversity in the electric shaver market. Manufacturers should strategically cater to users’ specific needs and preferences to maximize the benefits of foil shaver technology.

Will Demand for Electric Shaver Among Men Favor Market?

As of 2023, males controlled the market in terms of revenue. Electric shavers are especially popular among men who enjoy or need to shave on a daily basis due to their softness. Compared to traditional razors, electric shavers have a lower risk of irritation, allowing for frequent use without discomfort. Furthermore, they offer fine control for shaping and trimming facial hair, which is useful for creating certain beard styles, sideburn shapes, and keeping clean lines around the jawline and neckline.

Another advantage of electric shavers is their simplicity of cleaning. Many types include washable components, which simplifies maintenance and ensures hygiene. This function adds to the attraction of electric shavers among consumers by increasing convenience and ease of usage. Overall, the male segment continues to generate significant revenue in the electric shaver market, thanks to the product’s ability to address men’s grooming needs effectively and efficiently.

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Country/Region-wise Acumens

How Electric Shaver Market Fare in Asia Pacific?

The Asia Pacific region is emerging as a key driver of the growing demand in the global Electric Shavers Market. This increase can be defined by a variety of factors, including the region’s growing population, rapid urbanization and rising disposable incomes. As economies in Asia Pacific grow, customer preferences change toward more complex grooming options. Electric shavers are gaining popularity among both men and women in the region as a result of these shifting dynamics.

The cultural emphasis on personal grooming in many Asian nations, along with a tech-savvy customer base, has considerably boosted the region’s electric shaver market. Manufacturers in the worldwide Electric Shavers Market are deliberately focusing on the Asia Pacific market, adapting their products to meet the unique needs and preferences of the region’s diversified consumer base.

Furthermore, the expansion of e-commerce platforms in Asia Pacific has significantly increased the availability of electric shavers to a larger audience. This has made it easier for consumers to research and purchase items, resulting in higher usage of electric shavers.

How Europe Dominates the Market Share for the Electrical Shaver Market?

Europe’s electric shaver market is rapidly expanding, driven by developed countries like Germany, France, and Italy. Germany is a well-established and mature market that dominates Europe’s electric shaver business, accounting for 18.21% of total market share.

However, the nation is expected to have the slowest growth rate among European countries until 2030. The country is home to enterprises like Braun (P&G), who offer a diverse range of products and prosper in the market. Braun just introduced the CoolTec electric shaver, which uses cooling technology to reduce discomfort and provide a more comfortable shaving experience.

Europe’s grooming trends combine traditional patterns with modern efficiency, leading to increased demand for accurate electric shavers in a culture that values refined grooming practices and different beard styles. The combination of tradition and technology has resulted in a robust market for sophisticated, skin-friendly grooming instruments in the electric shaving sector. The increased disposable income in European nations enables customers to invest in premium shavers, adding to the growing demand in the electric shaver market share.

Trading Economics research shows that Europe’s disposable personal income increased by 3.30% between 2021 and 2022. The region’s inflation rate is expected to reach 6.1% by 2023, according to the European Commission. Rising inflation in Europe could affect consumer spending and market dynamics for the electric shaver business.

Competitive Landscape

The Electric Shavers Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the Electric Shavers Market include

Conair LLC (American Securities LLC), Koninklijke Philips N.V., The Procter & Gamble Company, Panasonic Corporation, Spectrum Brands Holdings, Inc., Havells India Ltd., Wahl Clipper Corporation, Xiaomi Corporation, Sakar International, Inc., Helen of Troy Limited, Philips Norelco, Braun, Remington, Panasonic, BIC, MANGROOMER, Andis, Vivitar, Optimus, LADYGROOMER, PRITECH, Eternal, Perfect Life Ideas, Epilady.

Latest Developments

• In October 2023, Gillette relaunched its ‘Choose Your Game Face’ ad to celebrate its extended partnership as the official shave and beard care provider for the Toronto Raptors.
• In August 2023, Bevel, a grooming product company, announced its entry into the electric shaver market. The new shaver features a dermatologist-tested swivel head with three foil cutting elements.
• In May 2023, Conair LLC established a distribution center in Washington County, strategically located for easy access to consumer markets and transportation. This program has a good impact on the electric shaver market and the region’s economy.

Report Scope

Electric Shavers Market, By Category

Type

• Foil Shavers
• Rotary Shavers
• Wet/ Dry Shavers
• Accessories
• Clippers

Product

• Rechargeable Shaver
• Battery Type Shaver

End-User

• Male
• Female

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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