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The electric shaver market share is expected to increase by USD 2.18 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.71%.
This electric shaver market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric shaver market segmentations by distribution channel (retail outlets and online retail) and geography (North America, Europe, APAC, South America, and MEA). The electric shaver market report also offers information on several market vendors, including Andis Co., Conair Corp., Havells India Ltd., Koninklijke Philips NV, Panasonic Corp., Shanghai Flyco Electrical Appliance Co. Ltd. , The Procter and Gamble Co., Wahl Clipper Corp., Wenzhou Iweel Electric Co. Ltd. , and Xiaomi Corp. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising interest among men in grooming is notably driving the electric shaver market growth, although factors such as rise in demand for laser hair removal may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric shaver industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Electric Shaver Market Driver
The rising interest among men in grooming is one of the key factors driving the growth of the global electric shaver market. The transformation in the socio-economic scenario in major countries such as the US and the UK has led to an evolution in the concepts of beauty, wellness, and grooming. These ideas, which were traditionally considered female-centric, are becoming increasingly gender-neutral. People have become more confident about embracing their individuality. The millennials are less confined by traditional gender roles and conventional norms. As the world is getting more competitive, men are also feeling the pressure to perform well in all spheres and are paying more attention to personal grooming. Marketers are capitalizing on this trend to gain market shares in the growing male grooming market. Globalization has led to the expansion of the highly educated and competitive elite class and upper middle class. The subsequent improvement in lifestyle has resulted in an increase in the demand for a range of premium grooming products such as electric shavers. Major electric shaver brands such as P&G, Panasonic, Conair, and Philips are diversifying their portfolio to include high-end products that cater to the demands of such customers.
Key Electric Shaver Market Trend
The rising trend of body hair removal will fuel the global electric shaver market growth. Besides an increase in appearance consciousness among consumers, there are several other reasons for the rise in the preference for body hair removal. For instance, the removal of hair is prescribed by religious customs such as tonsure, a traditional aspect of Christianity, Buddhism, Islam, and Judaism. Also, the demand for body hair removal is increasing among sportspersons, such as professional footballers and road cyclists. In the case of a crash or tackle, the absence of leg hair helps in cleaning the wounds and treating the injuries faster. The absence of hair reduces friction and increases comfort and effectiveness. Professional swimmers also shave the hair off their arms, legs, and torso to reduce drag and provide a heightened feel for the water by removing the exterior layer of dead skin. Some professional soccer players also shave their legs to wear shin guards to avoid or treat skin rashes efficiently if required. The increasing need for body hair removal due to reasons such as religious norms, sports activities, and surgical needs will increase the demand for shaving products such as electric shavers.
Key Electric Shaver Market Challenge
The rise in demand for laser hair removal is a major challenge for the global electric shaver market growth. The growing demand for alternative hair removal solutions such as laser technology will negatively impact the sales of electric shavers. In December 2006, the US Food and Drug Administration approved the first at-home laser hair remover developed by P&G's Gillette and Palomar Medical Technologies. Other manufacturers have also launched similar products. The rising demand for laser hair removal is due to its advantages such as long-lasting results, the option to selectively target the hair leaving the surrounding skin undamaged, less pain, and speed of the treatment. These treatments are especially popular in developed countries due to the increased accessibility, awareness, and popularity of laser treatments. Emerging countries have seen a phenomenal increase in the availability of advanced medical laser treatments during the last few years due to the increased business expansion of leading vendors in these markets. The business partnerships, including licensing, collaboration, and franchising between vendors and healthcare clinics, have led to the establishment of many laser clinics. The increase in accessibility of advanced laser treatment will increase the adoption of laser procedures in the market, negatively affecting the market during the forecast period.
This electric shaver market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global electric shaver market as a part of the global personal products market within the global household and personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric shaver market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the electric shaver market encompasses successful business strategies deployed by the key vendors. The electric shaver market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electric shaver market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the electric shaver market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global household and personal products market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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33% of the market’s growth will originate from Europe during the forecast period. Germany, France, and UK are the key markets for electric shaver market in Europe. Market growth in this region will be faster than the growth of the market in regions.
The rising interest among men in grooming will facilitate the electric shaver market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in focus was heavily impacted by the COVID-19 crisis in 2020. The governments of various countries implemented restrictions to prevent the further spread of COVID-19. These restrictions included the temporary shutdown of non-essential businesses, travel bans and restrictions, adherence to social distancing guidelines, and quarantines. As a result, consumers preferred to buy essential goods rather than non-essential ones. The supply chain, production, and distribution channels of luxury products were affected during the pandemic due to the implementation of containment measures in the region. In Europe, retail stores started closing in early March 2020 and gradually started to reopen in June 2020, and by August 2020, most had reopened. Along with the reopening of the retail stores, the increasing adoption of online retailing channels is expected to drive the electric shaver market during the forecast period.
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The electric shaver market share growth by the Retail outlets' segment will be significant during the forecast period. The global electric shaver market by retail outlets is driven by the increased comfort provided by these stores that enable users to do one-stop shopping and make a brand comparison on a wide range of products. The steady rise in the number of stores, such as specialty stores, particularly in the beauty and self-care market, is the major reason for the large share of this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the electric shaver market size and actionable market insights on post COVID-19 impact on each segment.
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Electric Shaver Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.71% |
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Market growth 2021-2025 |
$ 2.18 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.50 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
Europe at 33% |
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Key consumer countries |
US, Germany, France, China, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Andis Co., Conair Corp., Havells India Ltd., Koninklijke Philips NV, Panasonic Corp., Shanghai Flyco Electrical Appliance Co. Ltd. , The Procter and Gamble Co., Wahl Clipper Corp., Wenzhou Iweel Electric Co. Ltd. , and Xiaomi Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution channel
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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