“Global Electric Shavers Market to reach a market value of USD 14.1 Billion by 2030 growing at a CAGR of 6%”
The Global Electric Shavers Market size is expected to reach $14.1 billion by 2030, rising at a market growth of 6.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,36,543.4 thousand units, experiencing a growth of 5.8% (2019-2022).
Online platforms enable consumers to compare it easily based on features, customer reviews, and prices. Therefore, the Online segment captured $2,061.7 million revenue in the market in 2022. This transparency empowers consumers to make well-informed purchasing decisions. Detailed product descriptions and specifications are readily available on e-commerce platforms, helping consumers understand the features and functionalities of this before making a purchase. Specialized e-commerce platforms may provide expert recommendations, grooming tips, and insights into the latest trends, creating a comprehensive shopping experience for consumers interested in this. Events such as Cyber Monday, Black Friday, and holiday sales provide electric shaver manufacturers and retailers opportunities to offer competitive pricing, driving increased sales during peak shopping. As digital commerce continues to evolve, its impact on the market will likely shape consumer preferences and industry dynamics.
As disposable income increases, individuals may be more willing to invest in grooming tools with convenience and advanced features. Once considered a luxury item, it become more accessible to a broader population segment. With higher disposable income, consumers may opt for premium or luxury products that offer additional features, innovative technologies, and a superior grooming experience. Higher disposable income often leads to an increased focus on quality and durability. Consumers are willing to invest in grooming tools that provide efficient functionality and offer longevity and advanced features. Additionally, many modern electric shavers feature multi-blade systems that coordinate to capture and cut hair effectively. These systems enhance the overall shaving experience and contribute to a more comfortable result. Technologically advanced shavers may include features that automatically adjust the cutting angle and pressure based on the contours of the user's face. This ensures a consistent and efficient shave across different areas. Some electric shavers incorporate quick-charge functionality, allowing users to get sufficient power for a single shave with a short charging period. This addresses the needs of users with busy schedules. Waterproof designs facilitate easy cleaning under running water, ensuring that the electric shaver remains hygienic and ready for the next use. As technology continues evolving, the market will likely witness further innovation.
However, many individuals have long-standing habits and preferences for traditional razors. These preferences are often based on familiarity, comfort, and established grooming routines, making it challenging for this to sway consumers to change their habits. Traditional razors are often perceived as more cost-effective for the initial purchase. Electric shavers, especially those with advanced features, may have a higher upfront cost, deterring price-conscious consumers. Some individuals prefer the manual control provided by traditional razors, allowing them to achieve specific shaving styles and detailing. This may be perceived as less precise in comparison, impacting their appeal among those with specific grooming preferences. Electric shaver manufacturers need to compete in terms of product features, brand building, and marketing effectiveness. Due to the above factors, market growth will be hampered in the coming years.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on distribution channel, the market is fragmented into health & beauty stores, online, supermarkets & hypermarkets, and others. In 2022, the supermarkets & hypermarkets segment held the highest revenue share in the market. Some supermarkets and hypermarkets have online platforms or partnerships with e-commerce websites where customers can explore and purchase personal care items, including this. Supermarkets and hypermarkets may promote personal care products, including this, through seasonal or promotional displays. These displays are often strategically placed to attract the attention of shoppers. Some discount supermarkets have online platforms where customers can explore and purchase personal care items, including this, at discounted prices.
By end user, the market is classified into male and female. In 2022, the male segment registered the highest revenue share in the market. Men who prefer or need to shave daily appreciate it for their gentleness. The reduced risk of irritation allows for regular use without causing discomfort. It offers precise control over shaping and detailing facial hair. This is beneficial for achieving specific beard styles and sideburn shapes or maintaining clean lines along the jawline and neckline. These are generally easy to clean, with many models featuring washable components. This simplifies the maintenance process and ensures that the shaver remains hygienic.
On the basis of product, the market is segmented into trimmers/clippers, rotary shavers, and foil shavers. The rotary shavers segment acquired a substantial revenue share in 2022. Rotary shavers often have blades that move in a circular motion, reducing the direct friction between the blades and the skin. This design can contribute to a smoother shaving experience and may be less likely to cause skin irritation than some foil shavers. The design of rotary shaver blades often contributes to their durability. While regular maintenance is recommended, the robust construction of the blades enhances their longevity. Rotary shavers are generally known for their relatively quiet operation. The circular motion of the blades produces less noise compared to the oscillating motion of foil shavers.
Free Valuable Insights: Global Electric Shavers Market size to reach USD 14.1 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America region covered a considerable revenue share in 2022. The availability of cordless and rechargeable products enhances convenience and flexibility, allowing users to groom without being tethered to a power source. This has become particularly popular in North America, where consumers appreciate mobility and portability. The availability of online reviews and influencer marketing has shaped consumer perceptions and purchasing decisions. Consumers in North America often rely on reviews and recommendations from peers, experts, and influencers when choosing electric shavers.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 9 Billion |
| Market size forecast in 2030 | USD 14.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6% from 2023 to 2030 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 336 |
| Number of Tables | 690 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Distribution Channel, End User, Region |
| Country scope |
|
| Companies Included | 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 |
By End User (Volume, Thousand Units, USD Billion, 2019-2030)
By Product Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography
This Market size is expected to reach $14.1 billion by 2030.
Rising disposable income of individuals are driving the Market in coming years, however, High competition with traditional razors restraints the growth of the Market.
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
In the year 2022, the market attained a volume of 1,36,543.4 thousand units, experiencing a growth of 5.8% (2019-2022).
The Trimmers / Clippers segment is leading the Market by Product Type in 2022; there by, achieving a market value of $6.3 billion by 2030.
The Europe region dominated the Market by Region in 2022; there by, achieving a market value of $4.8 billion by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 