The global shavers market is expected to increase from $19,112.9 million in 2014, and reach $29,777.2 million by 2020 at a CAGR of 7.9%. The non-electric shavers market is expected to witness fastest growth during the forecast period. Europe accounted for the largest shavers market in 2014; however, Latin America is expected to become the market leader during the forecast period.
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The increasing urbanization level, growing housing industry, and up surging disposable incomes are the key drivers for the global shavers market. The increasing consciousness about appearance in both men and women are propelling the shavers market’s growth. A few shifts in trends have been observed in the men and women shaving, which is providing benefits to the shavers market.
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These trends include body hair removal by men and facial shaving by women. The growing trend of sporting beard is emerging as a market restraint, which is also being encouraged by the athletes and film stars. The underpenetrated rural markets in the developing countries, increasing number of female consumers, and improvement in shaver technology are providing significant growth opportunities to the shaver market during the forecast period.
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According to a recent study published in the Journal of Sexual Medicine, wherein 1,100 male and female students across two universities from U.S. had participated, 95% of the participants agreed that they remove their pubic hair at least once in a week. Approximately 90% of women in Australia and 99% in the U.K. shave their legs and armpits, which is leading to high sales of shavers and epilators from female consumers in these countries.
With the increasing urbanization, the importance of appearance has also become significant; which is consequently fueling the growth of beauty and grooming products. This includes electric and non-electric shavers as well, which are one of the most inherent grooming products in day-to-day life.
Shavers Market by Segment
Blades and Accessories
Shavers Market by End-user
Shavers Market by Distribution Channel
Supermarkets and Hypermarkets
Shavers Market by Geography
Middle East & Africa
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