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The electric shaver market size 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%.
The market is experiencing robust growth due to several key factors. There is a rising interest among men in grooming, driven by increased awareness of personal appearance and hygiene. This trend is particularly notable in developing countries such as India and China, where there is a large customer base with growing disposable incomes and an expanding middle class. Additionally, electric shavers offer numerous benefits, including convenience, efficiency, and skin-friendly features, which are appealing to a broad range of consumers. The rising trend of body hair removal further boosts the demand for electric shavers as individuals seek versatile grooming tools. Moreover, while the demand for laser hair removal is on the rise, electric shavers remain a popular and accessible option for many, reinforcing the market's expansion. The electric shaver market report also offers information on several market Companies, 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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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).
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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.
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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 other 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 Companies, which will assist in creating efficient business plans.
Based on our research output, there has been a positive impact on the market growth. The rising interest among men in grooming is notably driving the electric shaver market growth, although factors such as the 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 in 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.
The rising interest among men in grooming is one of the key factors driving the growth of the global 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.
The rising trend of body hair removal will fuel the 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.
The rise in demand for laser hair removal is a major challenge for 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 the 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 Companies in these markets. The business partnerships, including licensing, collaboration, and franchising between Companies 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.
This market research and growth report analyzes the market’s competitive landscape and offers information on several market Companies, including:
This statistical study of the electric shaver market encompasses successful business strategies deployed by the key Companies. The electric shaver market is fragmented and the Companies are deploying organic and inorganic growth strategies to compete in the market.
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.
The market is witnessing significant growth driven by electric shavers with ergonomic design, fast charging time, and premium cordless electric shavers offering 90 minutes of runtime and digital battery indicators. Despite the high initial costs and availability of cheap substitutes, R&D of eco-friendly products and brand promotions boost market appeal. Features like built-in pop-up trimmers, blades of rotary shavers, and multi-directional shaving heads cater to both dry and wet conditions, ensuring grip and comfort while reducing skin irritation, cuts, abrasions, and discomfort associated with traditional shaving methods like hair removal wax. Compact lithium batteries provide long-lasting battery life, making these shavers travel-friendly and suitable for working professionals. However, the market faces challenges from disposable razor blades, fake personal care products, and cultural trends favoring traditional shaving methods. Pre-shave products and after-shave balms further enhance the shaving experience, while waterproof electric shavers and head shaving features cater to diverse consumer needs, including the removal of axillary hair.
The market is significantly influenced by a focus on health and hygiene, with salons increasingly adopting built-in pop-up trimmer models and digital battery indicators for tackling tough areas of the head. Shaving at a salon highlights the cost of an electric shaver and the cultural trend among South Korean males. Travel-friendly electric shavers with precision trimmers and electric shaver cleaning stations are becoming popular. Consumers seek electric shaver warranty, adjustable speed settings, and LED display electric shavers from popular electric shaver brands. Seasonal discounts, online electric shaver sales, and electric shaver reviews reflect consumer preferences. Technological advancements in electric shavers, eco-friendly packaging, and celebrity endorsements for electric shavers drive the market. Additionally, electric shaver accessories, maintenance kits, and replacement blades and foils meet diverse needs, boosted by the influence of social media.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Million for the period 2021 to 2025 for the following segments.
Electric Shaver Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.71% |
Market growth 2021-2025 |
USD 2.18 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.50 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
Europe at 33% |
Key consumer countries |
US, Germany, France, China, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope, Electric Shaver Market Industry Report |
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. |
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, Electric Shaver Market Growth Analysis |
Customization purview |
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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
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